Citigroup Cuts Delek US (NYSE:DK) Price Target to $33.00

Delek US (NYSE:DK) had its target price trimmed by Citigroup from $37.00 to $33.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Delek US from $42.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, January 15th. Raymond James Financial upped their price target on shares of Delek US from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. The Goldman Sachs Group upped their target price on Delek US from $28.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Morgan Stanley raised their price objective on shares of Delek US from $34.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, November 14th. Finally, Wall Street Zen upgraded shares of Delek US from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Delek US has an average rating of “Hold” and an average price target of $38.85.

Delek US Price Performance

Delek US stock opened at $28.67 on Monday. The company has a debt-to-equity ratio of 7.12, a quick ratio of 0.58 and a current ratio of 0.86. Delek US has a 52 week low of $11.02 and a 52 week high of $43.50. The stock has a market capitalization of $1.72 billion, a P/E ratio of -3.51 and a beta of 0.81. The stock has a fifty day moving average of $32.19 and a 200-day moving average of $31.03.

Delek US (NYSE:DK) last released its earnings results on Friday, November 7th. The oil and gas company reported $7.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $6.85. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Delek US had a negative return on equity of 56.40% and a negative net margin of 4.83%.The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.45) earnings per share. On average, sell-side analysts expect that Delek US will post -5.5 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Robert G. Wright sold 5,643 shares of Delek US stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $41.46, for a total value of $233,958.78. Following the completion of the sale, the executive vice president owned 41,269 shares in the company, valued at $1,711,012.74. The trade was a 12.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joseph Israel sold 20,028 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $41.12, for a total transaction of $823,551.36. Following the completion of the sale, the executive vice president owned 62,793 shares of the company’s stock, valued at $2,582,048.16. The trade was a 24.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 59,354 shares of company stock valued at $2,446,658 in the last ninety days. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Delek US

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. bought a new stake in Delek US during the 3rd quarter worth approximately $27,000. AlphaQuest LLC grew its position in Delek US by 7,331.8% in the 2nd quarter. AlphaQuest LLC now owns 1,635 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 1,613 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Delek US during the 3rd quarter worth approximately $44,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Delek US during the third quarter valued at approximately $59,000. Finally, CWM LLC grew its stake in Delek US by 56.8% in the 2nd quarter. CWM LLC now owns 3,634 shares of the oil and gas company’s stock valued at $77,000 after purchasing an additional 1,316 shares during the period. 97.01% of the stock is owned by institutional investors.

About Delek US

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.