Delek US (NYSE:DK) Price Target Cut to $19.00 by Analysts at Piper Sandler

Delek US (NYSE:DK) had its target price lowered by Piper Sandler from $25.00 to $19.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. Piper Sandler’s target price indicates a potential downside of 3.55% from the company’s previous close.

DK has been the subject of several other reports. Wells Fargo & Company lifted their target price on shares of Delek US from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. upgraded shares of Delek US from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $23.00 to $26.00 in a report on Tuesday, September 10th. Scotiabank lowered their price target on Delek US from $27.00 to $25.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Wolfe Research started coverage on Delek US in a research report on Thursday, July 18th. They issued an “underperform” rating and a $19.00 target price for the company. Finally, Morgan Stanley decreased their price objective on shares of Delek US from $24.00 to $22.00 and set an “underweight” rating for the company in a report on Monday, September 16th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Delek US has a consensus rating of “Hold” and a consensus price target of $24.73.

Delek US Stock Down 3.1 %

Shares of Delek US stock opened at $19.70 on Friday. The company’s fifty day simple moving average is $20.98 and its two-hundred day simple moving average is $25.16. The company has a market cap of $1.26 billion, a P/E ratio of -15.89 and a beta of 1.14. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 2.50. Delek US has a 12-month low of $18.35 and a 12-month high of $33.60.

Delek US (NYSE:DK) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($1.42) by $0.50. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same period last year, the business posted $1.00 earnings per share. Delek US’s quarterly revenue was down 18.4% compared to the same quarter last year. Research analysts anticipate that Delek US will post -2.87 EPS for the current year.

Insider Activity

In other news, CEO Avigal Soreq acquired 5,651 shares of Delek US stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of $20.42 per share, with a total value of $115,393.42. Following the transaction, the chief executive officer now directly owns 188,881 shares of the company’s stock, valued at approximately $3,856,950.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Delek US

A number of hedge funds have recently added to or reduced their stakes in DK. Quarry LP acquired a new stake in Delek US in the second quarter valued at approximately $43,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Delek US during the first quarter worth $172,000. TFO Wealth Partners LLC raised its holdings in shares of Delek US by 627,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 6,275 shares of the oil and gas company’s stock worth $162,000 after purchasing an additional 6,274 shares during the last quarter. Bailard Inc. acquired a new stake in Delek US during the second quarter valued at $201,000. Finally, Capstone Investment Advisors LLC acquired a new stake in Delek US during the first quarter valued at $265,000. 97.01% of the stock is currently owned by institutional investors.

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.