Wells Fargo & Company Has Lowered Expectations for Delek US (NYSE:DK) Stock Price

Delek US (NYSE:DK - Get Free Report) had its target price dropped by investment analysts at Wells Fargo & Company from $16.00 to $11.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the oil and gas company's stock. Wells Fargo & Company's price objective would indicate a potential downside of 14.54% from the stock's previous close.

Several other equities research analysts have also weighed in on the company. Morgan Stanley lowered their price objective on Delek US from $19.00 to $18.00 and set an "underweight" rating on the stock in a research note on Friday, March 14th. Mizuho cut their price objective on Delek US from $25.00 to $22.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Scotiabank lowered their target price on shares of Delek US from $24.00 to $14.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Wolfe Research raised shares of Delek US from an "underperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Finally, Piper Sandler decreased 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. Five research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $17.48.

Delek US Stock Performance

Shares of DK traded up $0.70 on Wednesday, reaching $12.87. 1,192,238 shares of the stock traded hands, compared to its average volume of 1,214,083. The firm has a market cap of $804.67 million, a price-to-earnings ratio of -2.65 and a beta of 1.04. Delek US has a 12 month low of $11.03 and a 12 month high of $30.13. The stock's 50-day moving average price is $15.06 and its 200-day moving average price is $17.12. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.04 and a quick ratio of 0.67.

Delek US (NYSE:DK - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The oil and gas company reported ($2.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.53) by ($1.01). The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.58 billion. Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The company's quarterly revenue was down 39.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.46) EPS. Equities analysts forecast that Delek US will post -5.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mark Wayne Hobbs acquired 2,800 shares of the company's stock in a transaction that occurred 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 completion of the acquisition, the chief financial officer now owns 49,138 shares of the company's stock, valued at $673,190.60. This trade represents a 6.04 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders acquired a total of 5,055 shares of company stock valued at $70,787 over the last ninety days. Insiders own 1.90% of the company's stock.

Institutional Trading of Delek US

A number of institutional investors and hedge funds have recently modified their holdings of DK. Ion Asset Management Ltd. grew its holdings in Delek US by 16.5% during the fourth quarter. Ion Asset Management Ltd. now owns 3,455,000 shares of the oil and gas company's stock valued at $63,918,000 after purchasing an additional 488,509 shares during the period. State Street Corp boosted its position in shares of Delek US by 8.0% during the third quarter. State Street Corp now owns 3,019,307 shares of the oil and gas company's stock worth $56,612,000 after purchasing an additional 223,110 shares in the last quarter. Barclays PLC grew its holdings in shares of Delek US by 23.1% in the 4th quarter. Barclays PLC now owns 1,842,035 shares of the oil and gas company's stock valued at $34,078,000 after buying an additional 345,210 shares during the period. Geode Capital Management LLC raised its stake in Delek US by 4.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,459,301 shares of the oil and gas company's stock worth $27,368,000 after buying an additional 63,502 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in Delek US by 21.9% during the fourth quarter. Nuveen Asset Management LLC now owns 1,005,309 shares of the oil and gas company's stock worth $18,598,000 after acquiring an additional 180,498 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

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.