Delek US (NYSE:DK) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Delek US (NYSE:DK) had its price objective raised by Morgan Stanley from $38.00 to $40.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 0.64% from the stock’s current price.

DK has been the topic of a number of other research reports. Scotiabank upgraded shares of Delek US to a “hold” rating in a research report on Friday, March 27th. JPMorgan Chase & Co. cut their target price on shares of Delek US from $42.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, January 15th. Wall Street Zen upgraded shares of Delek US from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. TD Cowen raised their target price on shares of Delek US from $28.00 to $44.00 and gave the company a “hold” rating in a research report on Thursday, March 5th. Finally, Citigroup raised their target price on shares of Delek US from $33.00 to $44.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Delek US has a consensus rating of “Hold” and an average target price of $44.15.

Delek US Price Performance

NYSE:DK traded up $0.44 during mid-day trading on Friday, reaching $40.26. The stock had a trading volume of 205,414 shares, compared to its average volume of 1,511,007. The stock has a 50-day simple moving average of $40.86 and a two-hundred day simple moving average of $36.35. The stock has a market capitalization of $2.41 billion, a PE ratio of -115.20, a P/E/G ratio of 0.97 and a beta of 0.68. The company has a debt-to-equity ratio of 5.89, a current ratio of 0.82 and a quick ratio of 0.53. Delek US has a 12 month low of $12.66 and a 12 month high of $48.32.

Delek US (NYSE:DK) last announced its quarterly earnings data on Friday, February 27th. The oil and gas company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.63. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Delek US had a negative net margin of 0.21% and a negative return on equity of 13.55%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm posted ($2.54) earnings per share. On average, equities analysts anticipate that Delek US will post 1.38 earnings per share for the current year.

Insider Activity at Delek US

In other news, EVP Denise Clark Mcwatters sold 11,988 shares of Delek US stock in a transaction on Friday, March 13th. The shares were sold at an average price of $41.33, for a total transaction of $495,464.04. Following the transaction, the executive vice president owned 74,196 shares in the company, valued at approximately $3,066,520.68. The trade was a 13.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shlomo Zohar sold 22,029 shares of Delek US stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $44.83, for a total transaction of $987,560.07. Following the transaction, the director owned 18,989 shares in the company, valued at approximately $851,276.87. This trade represents a 53.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 172,095 shares of company stock valued at $7,257,409 in the last quarter. Insiders own 3.56% of the company’s stock.

Hedge Funds Weigh In On Delek US

Hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its stake in Delek US by 95.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company’s stock worth $26,000 after buying an additional 432 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in Delek US during the third quarter worth $27,000. EverSource Wealth Advisors LLC raised its stake in Delek US by 173.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company’s stock worth $29,000 after buying an additional 614 shares during the last quarter. Torren Management LLC bought a new position in Delek US during the fourth quarter worth $40,000. Finally, Focus Partners Wealth bought a new position in Delek US during the third quarter worth $44,000. Institutional investors own 97.01% of the company’s stock.

Delek US Company Profile

Delek US Holdings, Inc (NYSE: DK) is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.