Morgan Stanley Has Lowered Expectations for Delek US (NYSE:DK) Stock Price

Delek US (NYSE:DK) had its price objective decreased by analysts at Morgan Stanley from $19.00 to $18.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “underweight” rating on the oil and gas company’s stock. Morgan Stanley’s price target would indicate a potential upside of 14.98% from the stock’s previous close.

Several other research firms have also recently weighed in on DK. Mizuho cut their price objective on Delek US from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Wells Fargo & Company cut their price objective on Delek US from $17.00 to $15.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 26th. Wolfe Research raised Delek US from an “underperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. boosted their price objective on Delek US from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler cut their price objective on Delek US from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Five investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat, Delek US currently has a consensus rating of “Hold” and a consensus target price of $20.30.

Delek US Trading Up 7.1 %

NYSE DK opened at $15.66 on Friday. The company has a market cap of $978.64 million, a price-to-earnings ratio of -3.22 and a beta of 1.15. Delek US has a 52 week low of $13.40 and a 52 week high of $33.60. The business has a 50 day moving average price of $17.60 and a 200-day moving average price of $18.10. The company has a quick ratio of 0.67, a current ratio of 1.04 and a debt-to-equity ratio of 3.18.

Delek US (NYSE:DK) last announced its earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.53) by ($1.01). The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The firm’s quarterly revenue was down 39.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.46) EPS. As a group, equities analysts expect that Delek US will post -5.5 earnings per share for the current fiscal year.

Insider Transactions at Delek US

In other Delek US news, CFO Mark Wayne Hobbs acquired 2,800 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $13.70 per share, for a total transaction of $38,360.00. Following the acquisition, the chief financial officer now owns 49,138 shares in the company, valued at $673,190.60. This represents a 6.04 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders bought 5,925 shares of company stock worth $85,778. 0.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Rubric Capital Management LP bought a new position in Delek US during the 3rd quarter valued at approximately $37,500,000. Philosophy Capital Management LLC bought a new position in Delek US during the 3rd quarter valued at approximately $21,471,000. Millennium Management LLC increased its position in Delek US by 1,199.2% during the 4th quarter. Millennium Management LLC now owns 870,257 shares of the oil and gas company’s stock valued at $16,100,000 after buying an additional 803,274 shares in the last quarter. Deprince Race & Zollo Inc. bought a new position in Delek US during the 4th quarter valued at approximately $13,680,000. Finally, FMR LLC increased its position in Delek US by 47.3% during the 3rd quarter. FMR LLC now owns 1,707,773 shares of the oil and gas company’s stock valued at $32,021,000 after buying an additional 548,777 shares in 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.