Delek US (NYSE:DK) Price Target Raised to $59.00 at Wells Fargo & Company

Delek US (NYSE:DK) had its price target boosted by Wells Fargo & Company from $54.00 to $59.00 in a research report report published on Tuesday,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

Several other research firms also recently weighed in on DK. JPMorgan Chase & Co. lowered their price target on shares of Delek US from $42.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Delek US in a research note on Wednesday, January 21st. Piper Sandler lowered their target price on Delek US from $47.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Scotiabank upgraded Delek US to a “hold” rating in a report on Friday, March 27th. Finally, Citigroup reduced their price target on Delek US from $37.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, January 26th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $41.46.

Delek US Trading Down 1.2%

DK stock opened at $45.19 on Tuesday. The company has a market capitalization of $2.70 billion, a PE ratio of -129.13, a price-to-earnings-growth ratio of 1.41 and a beta of 0.75. The company has a debt-to-equity ratio of 5.89, a quick ratio of 0.53 and a current ratio of 0.82. Delek US has a one year low of $11.02 and a one year high of $48.32. The company’s 50 day moving average price is $37.22 and its two-hundred day moving average price is $35.26.

Delek US (NYSE:DK) last announced its quarterly earnings data on Friday, February 27th. The oil and gas company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.63. Delek US had a negative net margin of 0.21% and a negative return on equity of 13.55%. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the prior year, the company earned ($2.54) EPS. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, analysts predict that Delek US will post -5.5 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, March 2nd. Delek US’s dividend payout ratio (DPR) is -291.43%.

Insider Activity

In related news, Director Shlomo Zohar sold 22,029 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $44.83, for a total transaction of $987,560.07. Following the transaction, the director owned 18,989 shares in the company, valued at $851,276.87. The trade was a 53.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Denise Clark Mcwatters sold 11,988 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $41.33, for a total value of $495,464.04. Following the transaction, the executive vice president directly owned 74,196 shares of the company’s stock, valued at $3,066,520.68. The trade was a 13.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 172,095 shares of company stock valued at $7,257,409. 3.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Delek US

Several hedge funds have recently made changes to their positions in DK. Vanguard Group Inc. raised its holdings in shares of Delek US by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company’s stock valued at $187,773,000 after acquiring an additional 38,577 shares in the last quarter. Ion Asset Management Ltd. lifted its stake in Delek US by 1.8% in the second quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company’s stock worth $79,296,000 after acquiring an additional 67,490 shares during the period. State Street Corp boosted its holdings in Delek US by 3.4% in the fourth quarter. State Street Corp now owns 2,639,447 shares of the oil and gas company’s stock valued at $78,286,000 after acquiring an additional 87,846 shares in the last quarter. Morgan Stanley increased its position in Delek US by 24.7% during the 4th quarter. Morgan Stanley now owns 2,033,037 shares of the oil and gas company’s stock valued at $60,300,000 after purchasing an additional 403,059 shares during the period. Finally, Barclays PLC increased its position in Delek US by 29.4% during the 3rd quarter. Barclays PLC now owns 1,873,578 shares of the oil and gas company’s stock valued at $60,460,000 after purchasing an additional 425,896 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Delek US Company Profile

Delek US Holdings, Inc (NYSE: DK) is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.