Wells Fargo & Company Forecasts Strong Price Appreciation for Delek US (NYSE:DK) Stock

Delek US (NYSE:DK) had its target price hoisted by Wells Fargo & Company from $11.00 to $15.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the oil and gas company’s stock.

A number of other equities analysts have also recently issued reports on DK. Scotiabank lowered their price objective on shares of Delek US from $24.00 to $14.00 and set a “sector perform” rating for the company in a research report on Friday, April 11th. Mizuho upgraded shares of Delek US from a “neutral” rating to an “outperform” rating and upped their price target for the company from $22.00 to $23.00 in a research report on Tuesday, May 13th. UBS Group decreased their price target on shares of Delek US from $21.00 to $13.25 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Morgan Stanley upped their price target on shares of Delek US from $14.00 to $15.00 and gave the company an “underweight” rating in a research report on Monday, May 19th. Finally, Piper Sandler decreased their price target on shares of Delek US from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Delek US has a consensus rating of “Hold” and a consensus target price of $17.60.

Delek US Price Performance

DK stock opened at $20.45 on Wednesday. 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 has a 12 month low of $11.03 and a 12 month high of $25.68. The firm has a market cap of $1.24 billion, a P/E ratio of -4.21 and a beta of 0.96. The company’s 50-day moving average price is $16.11 and its two-hundred day moving average price is $16.86.

Delek US (NYSE:DK) last released its earnings results on Wednesday, May 7th. The oil and gas company reported ($2.32) EPS for the quarter, missing the consensus estimate of ($2.27) by ($0.05). The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.56 billion. Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. Delek US’s quarterly revenue was down 18.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.41) earnings per share. On average, analysts anticipate that Delek US will post -5.5 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Monday, May 12th were given a dividend of $0.255 per share. The ex-dividend date was Monday, May 12th. This represents a $1.02 annualized dividend and a yield of 4.99%. Delek US’s payout ratio is presently -9.18%.

Institutional Investors Weigh In On Delek US

Several hedge funds have recently bought and sold shares of DK. Kawa Capital Management Inc lifted its holdings in shares of Delek US by 72.2% in the 1st quarter. Kawa Capital Management Inc now owns 400,000 shares of the oil and gas company’s stock worth $6,192,000 after acquiring an additional 167,750 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Delek US by 3.4% in the 1st quarter. Rhumbline Advisers now owns 121,201 shares of the oil and gas company’s stock worth $1,826,000 after acquiring an additional 4,031 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Delek US by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,871 shares of the oil and gas company’s stock worth $2,213,000 after acquiring an additional 9,827 shares during the last quarter. Yaupon Capital Management LP bought a new stake in shares of Delek US in the 1st quarter worth approximately $3,095,000. Finally, Empowered Funds LLC lifted its holdings in shares of Delek US by 1.8% in the 1st quarter. Empowered Funds LLC now owns 341,913 shares of the oil and gas company’s stock worth $5,153,000 after acquiring an additional 5,981 shares during the last quarter. 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.