Wells Fargo & Company Cuts Delek US (NYSE:DK) Price Target to $16.00

Delek US (NYSE:DK) had its price objective reduced by Wells Fargo & Company from $18.00 to $16.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “underweight” rating on the oil and gas company’s stock. Wells Fargo & Company‘s target price points to a potential downside of 15.43% from the stock’s current price.

DK has been the subject of several other reports. Scotiabank lowered their price objective on Delek US from $25.00 to $22.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Mizuho upgraded Delek US from an “underperform” rating to a “neutral” rating and decreased their price target for the stock from $28.00 to $26.00 in a research note on Monday, September 16th. Morgan Stanley decreased their price target on Delek US from $24.00 to $22.00 and set an “underweight” rating on the stock in a research note on Monday, September 16th. StockNews.com cut Delek US from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Finally, JPMorgan Chase & Co. reduced their price objective on Delek US from $26.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Six research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.80.

Delek US Stock Performance

Shares of DK stock traded up $0.50 on Monday, hitting $18.92. The company had a trading volume of 71,047 shares, compared to its average volume of 1,069,416. The firm has a market cap of $1.20 billion, a P/E ratio of -3.89 and a beta of 1.22. The company has a 50-day moving average price of $18.16 and a 200-day moving average price of $20.88. 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 has a twelve month low of $15.36 and a twelve month high of $33.60.

Delek US (NYSE:DK) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($1.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.71) by $0.26. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The company’s revenue for the quarter was down 34.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.02 EPS. As a group, equities research analysts predict that Delek US will post -4.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Delek US

Hedge funds have recently made changes to their positions in the company. Quarry LP purchased a new position in shares of Delek US during the second quarter worth about $43,000. Farther Finance Advisors LLC grew its holdings in shares of Delek US by 24.2% during the third quarter. Farther Finance Advisors LLC now owns 7,733 shares of the oil and gas company’s stock worth $145,000 after buying an additional 1,508 shares during the last quarter. Capstone Investment Advisors LLC purchased a new position in shares of Delek US during the third quarter worth about $193,000. Bailard Inc. purchased a new position in shares of Delek US during the second quarter worth about $201,000. Finally, MQS Management LLC purchased a new position in shares of Delek US during the third quarter worth about $201,000. Hedge funds and other institutional investors own 97.01% 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 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.