Wells Fargo & Company Cuts Delek US (NYSE:DK) Price Target to $18.00

Delek US (NYSE:DK) had its price target cut by equities researchers at Wells Fargo & Company from $21.00 to $18.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “underweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 8.21% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Scotiabank lowered their price objective on shares of Delek US from $27.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Piper Sandler dropped their price target on shares of Delek US from $25.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. StockNews.com lowered Delek US from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. Morgan Stanley lowered their target price on Delek US from $24.00 to $22.00 and set an “underweight” rating on the stock in a research note on Monday, September 16th. Finally, 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 note on Monday, September 16th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.82.

Delek US Price Performance

NYSE:DK traded down $0.06 during trading hours on Wednesday, reaching $19.61. 295,547 shares of the company’s stock were exchanged, compared to its average volume of 1,039,809. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 2.50. The company has a market capitalization of $1.26 billion, a P/E ratio of -15.81 and a beta of 1.13. Delek US has a 12 month low of $18.25 and a 12 month high of $33.60. The business’s 50-day simple moving average is $20.21 and its two-hundred day simple moving average is $24.39.

Delek US (NYSE:DK) last released its 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. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the firm posted $1.00 earnings per share. The firm’s quarterly revenue was down 18.4% compared to the same quarter last year. Sell-side analysts expect that Delek US will post -3.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Delek US news, CEO Avigal Soreq purchased 5,651 shares of the stock in a transaction dated Friday, August 9th. The shares were bought at an average cost of $20.42 per share, with a total value of $115,393.42. Following the completion of the transaction, the chief executive officer now owns 188,881 shares in the company, valued at $3,856,950.02. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Delek US

Hedge funds and other institutional investors have recently modified their holdings of the stock. Encompass Capital Advisors LLC acquired a new position in Delek US during the 2nd quarter valued at $22,833,000. Point72 Asset Management L.P. bought a new stake in shares of Delek US in the second quarter valued at about $19,806,000. SIR Capital Management L.P. grew its position in Delek US by 37.2% during the second quarter. SIR Capital Management L.P. now owns 876,133 shares of the oil and gas company’s stock worth $21,693,000 after buying an additional 237,734 shares in the last quarter. Acadian Asset Management LLC increased its stake in Delek US by 627.2% during the first quarter. Acadian Asset Management LLC now owns 266,663 shares of the oil and gas company’s stock valued at $8,191,000 after acquiring an additional 229,992 shares during the period. Finally, Highland Peak Capital LLC bought a new position in Delek US during the second quarter valued at about $5,241,000. Institutional investors and hedge funds 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.