Wells Fargo & Company Boosts Delek US (NYSE:DK) Price Target to $21.00

Delek US (NYSE:DK) had its price target increased by Wells Fargo & Company from $20.00 to $21.00 in a research report released on Tuesday, Benzinga reports. They currently have an underweight rating on the oil and gas company’s stock.

DK has been the subject of a number of other research reports. Scotiabank lowered 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 research note on Friday, July 12th. JPMorgan Chase & Co. dropped their price objective on Delek US from $25.00 to $23.00 and set an underweight rating on the stock in a research note on Tuesday, July 2nd. Mizuho cut their target price on Delek US from $31.00 to $27.00 and set an underperform rating on the stock in a research report on Thursday, June 20th. TD Cowen lowered their target price on Delek US from $19.00 to $18.00 and set a sell rating for the company in a report on Thursday, August 8th. Finally, Wolfe Research assumed coverage on Delek US in a report on Thursday, July 18th. They set an underperform rating and a $19.00 price target on the stock. Six research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Delek US presently has an average rating of Hold and a consensus price target of $25.40.

Delek US Stock Down 2.9 %

Shares of DK opened at $19.74 on Tuesday. The company has a market capitalization of $1.27 billion, a PE ratio of -15.92 and a beta of 1.19. The stock’s 50-day moving average price is $21.90 and its two-hundred day moving average price is $25.72. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 2.50. Delek US has a 12 month low of $19.33 and a 12 month high of $33.60.

Delek US (NYSE:DK) last announced its 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. 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 for the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the prior year, the business posted $1.00 earnings per share. The firm’s revenue was down 18.4% on a year-over-year basis. On average, analysts anticipate that Delek US will post -2.87 EPS for the current year.

Delek US Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were paid a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.02 dividend on an annualized basis and a yield of 5.17%. This is an increase from Delek US’s previous quarterly dividend of $0.20. Delek US’s payout ratio is -82.26%.

Insiders Place Their Bets

In other news, Director Richard J. Marcogliese bought 2,750 shares of Delek US stock in a transaction dated Wednesday, June 12th. The stock was purchased at an average price of $23.99 per share, for a total transaction of $65,972.50. Following the purchase, the director now directly owns 42,863 shares in the company, valued at approximately $1,028,283.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Delek US news, Director Richard J. Marcogliese purchased 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was bought at an average cost of $23.99 per share, with a total value of $65,972.50. Following the completion of the transaction, the director now owns 42,863 shares of the company’s stock, valued at approximately $1,028,283.37. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Avigal Soreq acquired 5,651 shares of the business’s stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $20.42 per share, for a total transaction of $115,393.42. Following the transaction, the chief executive officer now owns 188,881 shares of the company’s stock, valued at approximately $3,856,950.02. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 2,854 shares of company stock valued at $65,603. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

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

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.