Piper Sandler Trims Delek US (NYSE:DK) Target Price to $19.00

Delek US (NYSE:DK) had its price target decreased by analysts at Piper Sandler from $25.00 to $19.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Piper Sandler’s target price points to a potential downside of 2.91% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Mizuho raised Delek US from an “underperform” rating to a “neutral” rating and cut their price target for the stock from $28.00 to $26.00 in a research report on Monday. Scotiabank dropped their target price on Delek US from $27.00 to $25.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company boosted their price target on Delek US from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Tuesday, September 3rd. TD Cowen cut their target price on shares of 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 shares of Delek US in a research note on Thursday, July 18th. They issued an “underperform” rating and a $19.00 target price for the company. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $24.73.

Delek US Stock Performance

Shares of NYSE:DK traded down $0.75 on Friday, hitting $19.57. 162,414 shares of the company were exchanged, compared to its average volume of 1,030,745. The stock’s 50 day moving average price is $21.04 and its 200 day moving average price is $25.20. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 2.50. The firm has a market capitalization of $1.26 billion, a P/E ratio of -15.78 and a beta of 1.14. Delek US has a 1-year low of $18.35 and a 1-year high of $33.60.

Delek US (NYSE:DK) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.50. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.31 billion. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. Delek US’s quarterly revenue was down 18.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 EPS. Sell-side analysts predict that Delek US will post -2.87 EPS for the current year.

Insider Buying and Selling

In related news, CEO Avigal Soreq purchased 5,651 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $20.42 per share, for a total transaction of $115,393.42. Following the purchase, the chief executive officer now directly owns 188,881 shares of the company’s stock, valued at $3,856,950.02. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Quarry LP purchased a new position in shares of Delek US during the 2nd quarter worth $43,000. TFO Wealth Partners LLC increased 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 during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Delek US in the 1st quarter valued at approximately $172,000. Bailard Inc. bought a new stake in Delek US in the second quarter valued at about $201,000. Finally, Chesapeake Capital Corp IL bought a new position in Delek US during the second quarter worth $223,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

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.