Morgan Stanley Has Lowered Expectations for Delek US (NYSE:DK) Stock Price

Delek US (NYSE:DK) had its target price dropped by research analysts at Morgan Stanley from $19.00 to $18.00 in a report released on Friday,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 upside of 16.77% from the company’s previous close.

Several other brokerages have also commented on DK. Mizuho decreased their price objective on shares of Delek US from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. JPMorgan Chase & Co. boosted their price target on shares of Delek US from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Piper Sandler cut their price target on Delek US from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Wells Fargo & Company cut their price objective on shares of Delek US from $17.00 to $15.00 and set an “underweight” rating for the company in a research report on Wednesday, February 26th. Finally, Wolfe Research upgraded shares of Delek US from an “underperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Five equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.30.

Delek US Price Performance

NYSE DK traded up $0.80 during trading on Friday, hitting $15.42. 486,044 shares of the stock traded hands, compared to its average volume of 1,132,543. The company has a market capitalization of $963.64 million, a P/E ratio of -3.18 and a beta of 1.15. Delek US has a 12-month low of $13.40 and a 12-month high of $33.60. The firm has a 50-day simple moving average of $17.66 and a 200-day simple moving average of $18.14. The company has a quick ratio of 0.67, a current ratio of 1.04 and a debt-to-equity ratio of 3.18.

Delek US (NYSE:DK) last issued its quarterly earnings data on Tuesday, February 25th. The oil and gas company reported ($2.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.53) by ($1.01). The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The company’s revenue for the quarter was down 39.8% on a year-over-year basis. During the same quarter last year, the company earned ($1.46) earnings per share. As a group, analysts predict that Delek US will post -5.5 EPS for the current year.

Insider Buying and Selling

In other Delek US news, CFO Mark Wayne Hobbs bought 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $13.70 per share, with a total value of $38,360.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders purchased 5,925 shares of company stock valued at $85,778. Insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Delek US

A number of hedge funds have recently bought and sold shares of the business. Rafferty Asset Management LLC grew its position in shares of Delek US by 0.7% during the fourth quarter. Rafferty Asset Management LLC now owns 114,701 shares of the oil and gas company’s stock worth $2,122,000 after buying an additional 797 shares in the last quarter. Sei Investments Co. boosted its stake in Delek US by 2.3% during the 4th quarter. Sei Investments Co. now owns 52,595 shares of the oil and gas company’s stock valued at $973,000 after acquiring an additional 1,192 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Delek US by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,088 shares of the oil and gas company’s stock worth $668,000 after acquiring an additional 1,227 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in Delek US by 7.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 18,254 shares of the oil and gas company’s stock worth $342,000 after acquiring an additional 1,292 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position in shares of Delek US by 728.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,491 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 1,311 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.