Wells Fargo & Company Forecasts Strong Price Appreciation for Delek US (NYSE:DK) Stock

Delek US (NYSE:DK - Free Report) had its price objective raised by Wells Fargo & Company from $15.00 to $16.00 in a research note published on Friday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the oil and gas company's stock.

DK has been the topic of several other reports. Wolfe Research raised shares of Delek US from an "underperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Piper Sandler reduced their price objective on shares of Delek US from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Mizuho lowered their target price on shares of Delek US from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. JPMorgan Chase & Co. upped their price target on shares of Delek US from $21.00 to $22.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley lowered their price objective on Delek US from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. Five investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $20.40.

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Delek US Trading Down 1.0 %

NYSE DK traded down $0.16 on Friday, hitting $15.93. The company's stock had a trading volume of 1,227,418 shares, compared to its average volume of 1,140,694. The company's 50-day moving average is $17.28 and its 200 day moving average is $17.91. The firm has a market cap of $995.83 million, a PE ratio of -3.28 and a beta of 1.14. Delek US has a 1-year low of $13.40 and a 1-year high of $33.60. 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 - Get Free Report) last announced its earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) 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 analyst estimates of $2.58 billion. Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The firm's quarterly revenue was down 39.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.46) earnings per share. As a group, analysts predict that Delek US will post -5.5 earnings per share for the current fiscal year.

Delek US Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, March 3rd were given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date of this dividend was Monday, March 3rd. Delek US's payout ratio is -11.54%.

Insider Buying and Selling

In other Delek US news, CFO Mark Wayne Hobbs purchased 2,800 shares of Delek US stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $13.70 per share, with a total value of $38,360.00. Following the transaction, the chief financial officer now owns 49,138 shares in the company, valued at $673,190.60. This trade represents a 6.04 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have bought 5,055 shares of company stock valued at $70,787. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Clifford Capital Partners LLC bought a new position in Delek US in the 3rd quarter valued at about $7,504,000. JPMorgan Chase & Co. raised its stake in shares of Delek US by 76.8% in the third quarter. JPMorgan Chase & Co. now owns 482,169 shares of the oil and gas company's stock worth $9,041,000 after purchasing an additional 209,474 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Delek US by 4.5% in the third quarter. Geode Capital Management LLC now owns 1,459,301 shares of the oil and gas company's stock valued at $27,368,000 after purchasing an additional 63,502 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Delek US by 6.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 766,807 shares of the oil and gas company's stock valued at $14,186,000 after buying an additional 45,017 shares during the last quarter. Finally, Summit Trail Advisors LLC bought a new stake in Delek US during the fourth quarter worth $565,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.