Morgan Stanley Boosts Delek US (NYSE:DK) Price Target to $15.00

Delek US (NYSE:DK) had its price objective raised by research analysts at Morgan Stanley from $14.00 to $15.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “underweight” rating on the oil and gas company’s stock. Morgan Stanley’s price target indicates a potential downside of 17.87% from the stock’s current price.

A number of other brokerages have also issued reports on DK. Piper Sandler decreased their price target on Delek US from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Raymond James decreased their price objective on Delek US from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Mizuho upgraded shares of Delek US from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $22.00 to $23.00 in a report on Tuesday, May 13th. The Goldman Sachs Group lowered their price target on shares of Delek US from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. Finally, Scotiabank decreased their price objective on Delek US from $24.00 to $14.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Delek US has an average rating of “Hold” and a consensus target price of $17.10.

Delek US Stock Performance

Delek US stock traded down $0.59 during mid-day trading on Monday, reaching $18.26. 232,960 shares of the stock traded hands, compared to its average volume of 1,265,813. Delek US has a 12-month low of $11.03 and a 12-month high of $28.91. The business’s 50-day moving average is $14.44 and its 200-day moving average is $16.66. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.04 and a quick ratio of 0.67. The stock has a market capitalization of $1.11 billion, a PE ratio of -3.75 and a beta of 0.74.

Delek US (NYSE:DK) last announced its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported ($2.32) EPS for the quarter, missing analysts’ consensus estimates of ($2.27) by ($0.05). The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.56 billion. Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. Delek US’s quarterly revenue was down 18.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.41) earnings per share. As a group, sell-side analysts predict that Delek US will post -5.5 EPS for the current fiscal year.

Insider Transactions at Delek US

In other Delek US news, CFO Mark Wayne Hobbs acquired 2,800 shares of the stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $13.70 per share, with a total value of $38,360.00. Following the completion of the purchase, the chief financial officer now owns 49,138 shares in the company, valued at $673,190.60. This trade represents a 6.04% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 5,055 shares of company stock worth $70,787 in the last quarter. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DK. Yaupon Capital Management LP purchased a new position in shares of Delek US during the first quarter worth approximately $3,095,000. Empowered Funds LLC lifted its position in shares of Delek US by 1.8% during the 1st quarter. Empowered Funds LLC now owns 341,913 shares of the oil and gas company’s stock valued at $5,153,000 after acquiring an additional 5,981 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Delek US by 3,979.8% in the 1st quarter. Jones Financial Companies Lllp now owns 20,399 shares of the oil and gas company’s stock worth $307,000 after acquiring an additional 19,899 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Delek US by 3.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,190 shares of the oil and gas company’s stock valued at $560,000 after purchasing an additional 1,102 shares in the last quarter. Finally, Ion Asset Management Ltd. raised its holdings in Delek US by 6.4% during the first quarter. Ion Asset Management Ltd. now owns 3,676,400 shares of the oil and gas company’s stock worth $55,403,000 after purchasing an additional 221,400 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.