Delek US (NYSE:DK) Price Target Raised to $34.00

Delek US (NYSE:DK) had its target price upped by Piper Sandler from $29.00 to $34.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

DK has been the topic of several other reports. Scotiabank reiterated a “sector perform” rating and issued a $20.00 price target (up from $14.00) on shares of Delek US in a research note on Friday, July 11th. Raymond James Financial increased their price target on shares of Delek US from $26.00 to $33.00 and gave the company an “outperform” rating in a research note on Tuesday, September 9th. Morgan Stanley increased their price target on shares of Delek US from $15.00 to $19.00 and gave the company an “underweight” rating in a research note on Wednesday, July 16th. TD Cowen dropped their price target on shares of Delek US from $18.00 to $15.00 and set a “sell” rating on the stock in a research note on Friday, August 8th. Finally, Wolfe Research upgraded shares of Delek US from a “peer perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Wednesday, September 3rd. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $24.69.

Delek US Stock Down 2.8%

DK stock opened at $27.88 on Thursday. The company’s 50 day moving average price is $24.95 and its 200 day moving average price is $19.57. The company has a debt-to-equity ratio of 10.48, a quick ratio of 0.50 and a current ratio of 0.80. Delek US has a fifty-two week low of $11.02 and a fifty-two week high of $32.61. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -2.27 and a beta of 1.09.

Delek US (NYSE:DK) last released its earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.36. Delek US had a negative net margin of 7.11% and a negative return on equity of 79.27%. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same period in the prior year, the firm earned ($0.92) earnings per share. The business’s quarterly revenue was down 16.4% compared to the same quarter last year. On average, equities research analysts anticipate that Delek US will post -5.5 EPS for the current fiscal year.

Delek US Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were given a dividend of $0.255 per share. The ex-dividend date was Monday, August 11th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.7%. Delek US’s dividend payout ratio (DPR) is -8.30%.

Insider Activity

In other news, CFO Robert G. Wright sold 7,135 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 48,294 shares in the company, valued at approximately $1,412,116.56. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Delek US

A number of hedge funds have recently modified their holdings of DK. Northern Trust Corp grew its position in shares of Delek US by 8.0% during the fourth quarter. Northern Trust Corp now owns 903,840 shares of the oil and gas company’s stock worth $16,721,000 after acquiring an additional 66,815 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Delek US by 14.4% during the fourth quarter. Ameriprise Financial Inc. now owns 792,111 shares of the oil and gas company’s stock worth $14,654,000 after purchasing an additional 99,521 shares during the period. Deutsche Bank AG lifted its holdings in shares of Delek US by 39.2% during the fourth quarter. Deutsche Bank AG now owns 448,119 shares of the oil and gas company’s stock worth $8,290,000 after purchasing an additional 126,222 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Delek US by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,088 shares of the oil and gas company’s stock worth $668,000 after purchasing an additional 1,227 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Delek US by 1,199.2% during the fourth quarter. Millennium Management LLC now owns 870,257 shares of the oil and gas company’s stock worth $16,100,000 after purchasing an additional 803,274 shares during the period. 97.01% of the stock is currently 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.