TD Cowen Raises Delek US (NYSE:DK) Price Target to $36.00

Delek US (NYSE:DK) had its price objective boosted by stock analysts at TD Cowen from $28.00 to $36.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has a “hold” rating on the oil and gas company’s stock. TD Cowen’s price objective indicates a potential downside of 11.86% from the company’s previous close.

Several other research firms have also commented on DK. Piper Sandler upped their price objective on Delek US from $29.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, September 11th. JPMorgan Chase & Co. boosted their price objective on Delek US from $19.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. UBS Group increased their target price on shares of Delek US from $24.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, September 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Delek US in a report on Wednesday, October 8th. Finally, Morgan Stanley set a $34.00 target price on shares of Delek US and gave the stock an “equal weight” rating in a research note on Friday, October 3rd. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $36.62.

Delek US Price Performance

Shares of DK stock opened at $40.85 on Tuesday. The stock’s 50-day moving average is $34.30 and its 200 day moving average is $25.82. The company has a debt-to-equity ratio of 7.12, a current ratio of 0.86 and a quick ratio of 0.50. Delek US has a 1-year low of $11.02 and a 1-year high of $43.50. The company has a market cap of $2.45 billion, a P/E ratio of -5.01 and a beta of 0.99.

Delek US (NYSE:DK) last announced its earnings results on Tuesday, December 6th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter. Delek US had a negative return on equity of 56.40% and a negative net margin of 4.83%.The company had revenue of $2.96 billion for the quarter. Research analysts predict that Delek US will post -5.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Delek US

In other Delek US news, CFO Robert G. Wright sold 7,135 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $29.24, for a total transaction of $208,627.40. Following the sale, the chief financial officer directly owned 48,294 shares in the company, valued at approximately $1,412,116.56. The trade was a 12.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Ion Asset Management Ltd. raised its stake in 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 valued at $79,296,000 after purchasing an additional 67,490 shares during the last quarter. Barclays PLC increased its position in Delek US by 29.4% during the third quarter. Barclays PLC now owns 1,873,578 shares of the oil and gas company’s stock worth $60,460,000 after purchasing an additional 425,896 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Delek US by 113.5% in the 2nd 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 holdings in shares of Delek US by 40.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,474,083 shares of the oil and gas company’s stock worth $47,569,000 after purchasing an additional 423,017 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Delek US by 35.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,037,599 shares of the oil and gas company’s stock valued at $15,637,000 after buying an additional 270,792 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

About Delek US

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through Refining, Logistics, and Retail segments. The Refining segment processes crude oil and other feedstock for the manufacture of various grades of gasoline, diesel fuel, aviation fuel, asphalt, and other petroleum-based products that are distributed through owned and third-party product terminal.