Credit Suisse Group Trims Delek US (DK) Target Price to $59.00

Delek US (NYSE:DK) had its price target cut by Credit Suisse Group from $67.00 to $59.00 in a research note published on Tuesday, The Fly reports. They currently have an outperform rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley increased their target price on shares of Delek US from $58.00 to $62.00 and gave the company an overweight rating in a research report on Monday, July 16th. Raymond James decreased their target price on shares of Delek US from $70.00 to $60.00 and set a strong-buy rating for the company in a research report on Monday, September 24th. ValuEngine raised shares of Delek US from a hold rating to a buy rating in a research report on Tuesday, September 4th. Goldman Sachs Group cut shares of Delek US from a conviction-buy rating to a buy rating in a research report on Tuesday. Finally, TheStreet lowered shares of Delek US from a b- rating to a c+ rating in a research note on Thursday, July 5th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $51.27.

Shares of DK opened at $38.76 on Tuesday. Delek US has a fifty-two week low of $25.02 and a fifty-two week high of $61.57. The company has a market capitalization of $3.56 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 0.86 and a beta of 1.41. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.36 and a quick ratio of 0.96.

Delek US (NYSE:DK) last announced its quarterly earnings results on Tuesday, August 7th. The oil and gas company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.11). Delek US had a return on equity of 12.23% and a net margin of 3.69%. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.51 billion. As a group, equities analysts expect that Delek US will post 4.93 EPS for the current year.

In other Delek US news, Director David Wiessman sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $54.10, for a total transaction of $3,246,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Virginia Retirement Systems ET AL increased its stake in shares of Delek US by 9.4% in the second quarter. Virginia Retirement Systems ET AL now owns 13,900 shares of the oil and gas company’s stock worth $697,000 after acquiring an additional 1,200 shares during the period. First Midwest Bank Trust Division increased its stake in shares of Delek US by 13.2% in the second quarter. First Midwest Bank Trust Division now owns 11,345 shares of the oil and gas company’s stock worth $569,000 after acquiring an additional 1,322 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Delek US by 20.7% in the first quarter. Russell Investments Group Ltd. now owns 7,800 shares of the oil and gas company’s stock worth $317,000 after acquiring an additional 1,337 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Delek US by 2.3% in the first quarter. The Manufacturers Life Insurance Company now owns 60,596 shares of the oil and gas company’s stock worth $2,466,000 after acquiring an additional 1,387 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Delek US in the second quarter worth $105,000. Institutional investors and hedge funds own 97.67% 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'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.

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