Delek US (NYSE:DK) Price Target Raised to $53.00 at Wells Fargo & Company

Delek US (NYSE:DK) had its price objective lifted by investment analysts at Wells Fargo & Company from $43.00 to $53.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 28.48% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Bank of America boosted their price target on Delek US from $14.00 to $24.00 and gave the company an “underperform” rating in a report on Wednesday, September 3rd. UBS Group lifted their price target on shares of Delek US from $24.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, September 2nd. Piper Sandler increased their price objective on shares of Delek US from $29.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. Scotiabank lifted their target price on Delek US from $20.00 to $33.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Delek US in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Delek US currently has a consensus rating of “Hold” and a consensus target price of $33.77.

Delek US Stock Performance

Shares of DK opened at $41.25 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 10.48. The business’s 50 day moving average is $33.63 and its two-hundred day moving average is $25.32. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -5.02 and a beta of 0.99. Delek US has a 52-week low of $11.02 and a 52-week high of $43.50.

Delek US (NYSE:DK) last announced its quarterly earnings data on Tuesday, December 6th. The oil and gas company reported $0.05 earnings per share for the quarter. The company had revenue of $2.96 billion during the quarter. Delek US had a negative net margin of 4.83% and a negative return on equity of 56.78%. Analysts forecast that Delek US will post -5.5 EPS for the current fiscal year.

Insider Activity

In related 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 owned 48,294 shares in the company, valued at $1,412,116.56. This trade represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Trading of Delek US

Hedge funds and other institutional investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Delek US in the first quarter valued at $13,728,000. Nuveen LLC bought a new stake in Delek US in the first quarter worth about $13,629,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in 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 valued at $33,926,000 after acquiring an additional 851,458 shares during the last quarter. Callodine Capital Management LP boosted its position in shares of Delek US by 1,827.6% during the 1st quarter. Callodine Capital Management LP now owns 674,661 shares of the oil and gas company’s stock valued at $10,167,000 after purchasing an additional 639,661 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of 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 purchasing an additional 423,017 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Delek US Company Profile

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.