Delek US (NYSE:DK) Price Target Cut to $33.00 by Analysts at Citigroup

Delek US (NYSE:DK) had its price target reduced by analysts at Citigroup from $37.00 to $33.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s price target indicates a potential upside of 19.02% from the stock’s current price.

A number of other brokerages have also recently weighed in on DK. TD Cowen lifted their target price on Delek US from $28.00 to $36.00 and gave the company a “hold” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. dropped their target price on shares of Delek US from $42.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, January 15th. Raymond James Financial raised their price target on shares of Delek US from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, October 17th. The Goldman Sachs Group increased their price objective on shares of Delek US from $28.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Finally, Morgan Stanley lifted their target price on shares of Delek US from $34.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, November 14th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Delek US presently has an average rating of “Hold” and a consensus target price of $39.00.

Delek US Trading Down 1.7%

NYSE DK traded down $0.49 during mid-day trading on Monday, reaching $27.73. 193,185 shares of the stock were exchanged, compared to its average volume of 1,545,980. Delek US has a 1-year low of $11.02 and a 1-year high of $43.50. The business’s fifty day simple moving average is $32.95 and its 200 day simple moving average is $31.03. The company has a debt-to-equity ratio of 7.12, a quick ratio of 0.58 and a current ratio of 0.86. The stock has a market capitalization of $1.67 billion, a PE ratio of -3.39 and a beta of 0.81.

Delek US (NYSE:DK) last announced its quarterly earnings data on Friday, November 7th. The oil and gas company reported $7.13 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $6.85. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.76 billion. Delek US had a negative return on equity of 56.40% and a negative net margin of 4.83%.The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.45) earnings per share. On average, research analysts anticipate that Delek US will post -5.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Reuven Spiegel sold 27,000 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $41.36, for a total value of $1,116,720.00. Following the sale, the executive vice president owned 23,020 shares in the company, valued at approximately $952,107.20. This represents a 53.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert G. Wright sold 2,303 shares of Delek US stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $40.43, for a total value of $93,110.29. Following the completion of the transaction, the executive vice president owned 38,966 shares of the company’s stock, valued at $1,575,395.38. This trade represents a 5.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 59,354 shares of company stock worth $2,446,658. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Delek US

A number of large investors have recently bought and sold shares of the business. Ion Asset Management Ltd. lifted its holdings in shares of Delek US by 1.8% in the 2nd quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company’s stock worth $79,296,000 after purchasing an additional 67,490 shares during the last quarter. Barclays PLC increased its stake in shares of Delek US by 29.4% in the third 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. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Delek US by 113.5% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,601,777 shares of the oil and gas company’s stock worth $33,926,000 after buying an additional 851,458 shares during the period. Allianz Asset Management GmbH raised its stake in Delek US by 40.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,474,083 shares of the oil and gas company’s stock valued at $47,569,000 after acquiring an additional 423,017 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Delek US by 6,300.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,306,269 shares of the oil and gas company’s stock worth $42,153,000 after purchasing an additional 1,285,861 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

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.