Morgan Stanley Cuts Delek US (NYSE:DK) Price Target to $22.00

Delek US (NYSE:DK) had its price target dropped by analysts at Morgan Stanley from $24.00 to $22.00 in a report issued on Monday, Benzinga reports. The firm currently has an “underweight” rating on the oil and gas company’s stock. Morgan Stanley’s price target would indicate a potential upside of 14.88% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Mizuho raised shares of Delek US from an “underperform” rating to a “neutral” rating and decreased their target price for the stock from $28.00 to $26.00 in a research note on Monday. StockNews.com raised shares of Delek US from a “sell” rating to a “hold” rating in a research report on Friday. Piper Sandler reduced their price objective on shares of Delek US from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. JPMorgan Chase & Co. upgraded shares of Delek US from an “underweight” rating to a “neutral” rating and upped their price target for the company from $23.00 to $26.00 in a research note on Tuesday, September 10th. Finally, Wolfe Research started coverage on shares of Delek US in a report on Thursday, July 18th. They issued an “underperform” rating and a $19.00 price target on the stock. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Delek US has an average rating of “Hold” and an average target price of $25.27.

Delek US Stock Performance

Shares of Delek US stock traded down $0.25 on Monday, reaching $19.15. 344,237 shares of the company were exchanged, compared to its average volume of 1,034,811. Delek US has a 1-year low of $18.35 and a 1-year high of $33.60. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.58 and a current ratio of 0.98. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -15.48 and a beta of 1.14. The company’s 50-day moving average is $21.25 and its two-hundred day moving average is $25.35.

Delek US (NYSE:DK) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $0.50. Delek US had a negative return on equity of 4.53% and a negative net margin of 0.69%. 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 company earned $1.00 earnings per share. Delek US’s quarterly revenue was down 18.4% compared to the same quarter last year. As a group, research analysts expect that Delek US will post -2.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Delek US

In related news, CEO Avigal Soreq purchased 5,651 shares of the stock in a transaction on Friday, August 9th. The shares were bought at an average price of $20.42 per share, for a total transaction of $115,393.42. Following the completion of the acquisition, the chief executive officer now directly owns 188,881 shares in the company, valued at approximately $3,856,950.02. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Trading of Delek US

Hedge funds and other institutional investors have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. bought a new position in Delek US during the first quarter worth about $31,000. Quarry LP bought a new stake in Delek US in the 2nd quarter valued at approximately $43,000. Allspring Global Investments Holdings LLC bought a new stake in Delek US in the 1st quarter valued at approximately $172,000. TFO Wealth Partners LLC lifted its stake in Delek US by 627,400.0% in the 4th quarter. TFO Wealth Partners LLC now owns 6,275 shares of the oil and gas company’s stock valued at $162,000 after acquiring an additional 6,274 shares in the last quarter. Finally, Bailard Inc. bought a new stake in Delek US in the 2nd quarter valued at approximately $201,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.