Delek US (DK) Price Target Increased to $53.00 by Analysts at Morgan Stanley

Delek US (NYSE:DK) had its target price increased by investment analysts at Morgan Stanley from $44.00 to $53.00 in a note issued to investors on Monday. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Morgan Stanley’s price target would suggest a potential upside of 15.92% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Delek US from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Scotiabank reiterated a “buy” rating and issued a $43.00 target price on shares of Delek US in a research note on Wednesday, January 10th. Royal Bank of Canada reiterated a “buy” rating and issued a $41.00 target price on shares of Delek US in a research note on Tuesday, January 30th. Citigroup lifted their target price on shares of Delek US from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Finally, Deutsche Bank lifted their target price on shares of Delek US from $43.00 to $46.00 and gave the company a “hold” rating in a research note on Monday, March 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $40.53.

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Shares of DK opened at $45.72 on Monday. The stock has a market cap of $3,715.94, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 1.79 and a beta of 1.43. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.98 and a quick ratio of 0.68. Delek US has a 12 month low of $20.65 and a 12 month high of $45.95.

Delek US (NYSE:DK) last announced its quarterly earnings results on Monday, February 26th. The oil and gas company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Delek US had a net margin of 3.99% and a return on equity of 5.99%. The company’s revenue for the quarter was up 129.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.44) earnings per share. sell-side analysts anticipate that Delek US will post 2.47 earnings per share for the current fiscal year.

Delek US declared that its board has authorized a stock repurchase program on Monday, February 26th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the oil and gas company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In related news, insider Daniel L. Gordon sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $37.57, for a total value of $93,925.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin L. Kremke sold 3,400 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $37.01, for a total transaction of $125,834.00. The disclosure for this sale can be found here. Insiders sold a total of 210,109 shares of company stock valued at $7,832,256 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. acquired a new stake in Delek US during the 3rd quarter worth $273,000. Deutsche Bank AG grew its holdings in Delek US by 276.9% during the 4th quarter. Deutsche Bank AG now owns 854,054 shares of the oil and gas company’s stock worth $29,838,000 after acquiring an additional 627,451 shares during the period. Swiss National Bank grew its holdings in Delek US by 2.4% during the 4th quarter. Swiss National Bank now owns 123,419 shares of the oil and gas company’s stock worth $4,312,000 after acquiring an additional 2,900 shares during the period. BlackRock Inc. grew its holdings in Delek US by 3.1% during the 4th quarter. BlackRock Inc. now owns 5,148,200 shares of the oil and gas company’s stock worth $179,880,000 after acquiring an additional 154,903 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Delek US by 371.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 458,456 shares of the oil and gas company’s stock worth $12,254,000 after acquiring an additional 361,162 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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Delek US Company Profile

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company's Refining segment processes crude oil and other purchased feedstocks 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 terminals.

Analyst Recommendations for Delek US (NYSE:DK)

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