Wells Fargo & Company Issues Positive Forecast for Delek US (NYSE:DK) Stock Price

Delek US (NYSE:DK) had its target price hoisted by Wells Fargo & Company from $43.00 to $53.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

Several other equities research analysts have also recently weighed in on DK. Scotiabank increased their price target on Delek US from $20.00 to $33.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Citigroup reiterated a “neutral” rating and issued a $30.00 target price (up from $15.00) on shares of Delek US in a report on Wednesday, July 16th. UBS Group raised their price target on shares of Delek US from $24.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, September 2nd. Bank of America boosted their price target on shares of Delek US from $14.00 to $24.00 and gave the stock an “underperform” rating in a research report on Wednesday, September 3rd. Finally, Wall Street Zen raised shares of Delek US from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $34.31.

Delek US Price Performance

DK stock opened at $41.41 on Monday. The company has a market capitalization of $2.49 billion, a P/E ratio of -5.07 and a beta of 0.99. The company has a fifty day moving average price of $33.91 and a 200-day moving average price of $25.52. The company has a debt-to-equity ratio of 10.48, a quick ratio of 0.50 and a current ratio of 0.80. Delek US has a 52-week low of $11.02 and a 52-week high of $43.50.

Delek US (NYSE:DK) last posted its quarterly earnings data on Tuesday, December 6th. The oil and gas company reported $0.05 earnings per share for the quarter. The business had revenue of $2.96 billion during the quarter. Delek US had a negative return on equity of 56.78% and a negative net margin of 4.83%. As a group, equities analysts expect that Delek US will post -5.5 EPS for the current year.

Delek US Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 10th will be given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, November 10th. Delek US’s payout ratio is presently -8.30%.

Insider Transactions at Delek US

In other Delek US news, CFO Robert G. Wright sold 7,135 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $29.24, for a total value of $208,627.40. Following the completion of the sale, the chief financial officer directly owned 48,294 shares in the company, valued at approximately $1,412,116.56. This trade represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Delek US

Institutional investors and hedge funds have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. acquired a new position in Delek US during the first quarter worth $13,728,000. Nuveen LLC acquired a new position in Delek US during the 1st quarter valued at about $13,629,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Delek US by 113.5% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,601,777 shares of the oil and gas company’s stock worth $33,926,000 after purchasing an additional 851,458 shares in the last quarter. Callodine Capital Management LP raised its stake in shares of Delek US by 1,827.6% in the first quarter. Callodine Capital Management LP now owns 674,661 shares of the oil and gas company’s stock worth $10,167,000 after purchasing an additional 639,661 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its stake in shares of Delek US by 40.2% in the third quarter. Allianz Asset Management GmbH now owns 1,474,083 shares of the oil and gas company’s stock worth $47,569,000 after purchasing an additional 423,017 shares during the last quarter. Institutional investors 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.