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

Delek US (NYSE:DK) had its price objective boosted by equities researchers at Wells Fargo & Company from $54.00 to $59.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 25.96% from the stock’s current price.

DK has been the subject of several other research reports. Wall Street Zen upgraded Delek US from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. JPMorgan Chase & Co. dropped their price target on Delek US from $42.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, January 15th. Mizuho increased their price objective on shares of Delek US from $51.00 to $54.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Delek US in a research report on Wednesday, January 21st. Finally, Scotiabank upgraded shares of Delek US to a “hold” rating in a research report on Friday. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Delek US has a consensus rating of “Hold” and an average price target of $41.46.

Delek US Price Performance

DK stock opened at $46.84 on Tuesday. The firm has a 50-day moving average of $36.85 and a 200 day moving average of $35.14. The company has a market cap of $2.80 billion, a P/E ratio of -130.24, a PEG ratio of 1.47 and a beta of 0.75. Delek US has a 1 year low of $11.02 and a 1 year high of $48.32. The company has a debt-to-equity ratio of 5.89, a current ratio of 0.82 and a quick ratio of 0.53.

Delek US (NYSE:DK) last released its quarterly earnings data on Friday, February 27th. The oil and gas company reported $0.44 EPS for the quarter, beating the consensus estimate of ($0.19) by $0.63. Delek US had a negative return on equity of 13.55% and a negative net margin of 0.21%.The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period last year, the firm posted ($2.54) earnings per share. Delek US’s revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that Delek US will post -5.5 EPS for the current year.

Insider Buying and Selling at Delek US

In related news, EVP Joseph Israel sold 38,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $40.65, for a total value of $1,544,700.00. Following the completion of the transaction, the executive vice president directly owned 55,623 shares of the company’s stock, valued at approximately $2,261,074.95. This trade represents a 40.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Reuven Spiegel sold 20,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $42.84, for a total transaction of $856,800.00. Following the completion of the sale, the executive vice president owned 48,530 shares in the company, valued at $2,079,025.20. This represents a 29.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 172,095 shares of company stock worth $7,257,409. Company insiders own 3.56% of the company’s stock.

Hedge Funds Weigh In On Delek US

A number of institutional investors and hedge funds have recently made changes to their positions in DK. Caitong International Asset Management Co. Ltd grew its stake in shares of Delek US by 95.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company’s stock worth $26,000 after buying an additional 432 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Delek US during the 3rd quarter valued at about $27,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Delek US by 173.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 614 shares during the last quarter. Torren Management LLC purchased a new position in Delek US in the fourth quarter worth about $40,000. Finally, Focus Partners Wealth purchased a new position in Delek US in the third quarter worth about $44,000. 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.