TD Cowen Lowers Delek US (NYSE:DK) Price Target to $18.00

Delek US (NYSE:DK) had its price target lowered by equities researchers at TD Cowen from $19.00 to $18.00 in a research report issued on Thursday, Marketbeat reports. The brokerage presently has a “sell” rating on the oil and gas company’s stock. TD Cowen’s price target points to a potential downside of 12.96% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company decreased their price objective on shares of Delek US from $25.00 to $20.00 and set an “underweight” rating for the company in a report on Tuesday, July 16th. Piper Sandler decreased their price objective on shares of Delek US from $30.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, June 14th. Mizuho decreased their price objective on shares of Delek US from $31.00 to $27.00 and set an “underperform” rating for the company in a report on Thursday, June 20th. Scotiabank reduced their target price on shares of Delek US from $27.00 to $25.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Finally, Wolfe Research started coverage on shares of Delek US in a report on Thursday, July 18th. They set an “underperform” rating and a $19.00 target price for the company. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Delek US currently has an average rating of “Hold” and an average target price of $25.30.

Delek US Stock Performance

Shares of NYSE:DK traded up $0.40 during trading hours on Thursday, hitting $20.68. The stock had a trading volume of 1,594,764 shares, compared to its average volume of 1,017,107. The stock’s fifty day simple moving average is $23.38 and its 200 day simple moving average is $26.58. Delek US has a 1-year low of $19.33 and a 1-year high of $33.60. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -16.68 and a beta of 1.19. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.64 and a current ratio of 1.04.

Delek US (NYSE:DK) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.50. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.31 billion. Delek US had a negative net margin of 0.48% and a positive return on equity of 7.37%. Delek US’s revenue was down 18.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.00 earnings per share. Sell-side analysts anticipate that Delek US will post -2.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Delek US

In other Delek US news, Director Richard J. Marcogliese acquired 2,750 shares of Delek US stock in a transaction that occurred on Wednesday, June 12th. The stock was acquired at an average price of $23.99 per share, with a total value of $65,972.50. Following the purchase, the director now owns 42,863 shares in the company, valued at $1,028,283.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 2,104 shares of company stock valued at $50,348 in the last quarter. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Delek US

Institutional investors and hedge funds have recently modified their holdings of the business. Highland Peak Capital LLC bought a new position in Delek US in the 2nd quarter worth $5,241,000. Renaissance Technologies LLC raised its holdings in Delek US by 8.6% in the 2nd quarter. Renaissance Technologies LLC now owns 298,469 shares of the oil and gas company’s stock worth $7,390,000 after acquiring an additional 23,628 shares during the period. Envestnet Asset Management Inc. raised its holdings in Delek US by 53.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 80,782 shares of the oil and gas company’s stock worth $2,000,000 after acquiring an additional 28,216 shares during the period. Thoroughbred Financial Services LLC raised its holdings in Delek US by 2.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 50,394 shares of the oil and gas company’s stock worth $1,247,000 after acquiring an additional 1,246 shares during the period. Finally, SIR Capital Management L.P. raised its holdings in Delek US by 37.2% in the 2nd quarter. SIR Capital Management L.P. now owns 876,133 shares of the oil and gas company’s stock worth $21,693,000 after acquiring an additional 237,734 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.