Delek US (NYSE:DK) Shares Down 3.7% on Analyst Downgrade

Delek US Holdings, Inc. (NYSE:DK) was down 3.7% during trading on Friday after Piper Sandler lowered their price target on the stock from $25.00 to $19.00. Piper Sandler currently has a neutral rating on the stock. Delek US traded as low as $19.45 and last traded at $19.57. Approximately 141,882 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 1,030,632 shares. The stock had previously closed at $20.32.

Several other equities analysts have also recently commented on DK. Wells Fargo & Company raised their price target on shares of Delek US from $20.00 to $21.00 and gave the company an “underweight” rating in a research report on Tuesday, September 3rd. Scotiabank decreased their target price on Delek US from $27.00 to $25.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. TD Cowen cut their price target on Delek US from $19.00 to $18.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Mizuho upgraded Delek US from an “underperform” rating to a “neutral” rating and decreased their price objective for the company from $28.00 to $26.00 in a research note on Monday, September 16th. Finally, Wolfe Research began coverage on Delek US in a research report on Thursday, July 18th. They set an “underperform” rating and a $19.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.73.

Insider Transactions at Delek US

In related news, CEO Avigal Soreq acquired 5,651 shares of Delek US stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $20.42 per share, for a total transaction of $115,393.42. Following the transaction, the chief executive officer now owns 188,881 shares of the company’s stock, valued at $3,856,950.02. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Delek US

A number of hedge funds and other institutional investors have recently made changes to their positions in DK. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Delek US during the second quarter worth approximately $223,000. Point72 Asset Management L.P. purchased a new position in Delek US during the 2nd quarter worth $19,806,000. Quarry LP acquired a new position in Delek US in the second quarter valued at $43,000. Creative Planning raised its holdings in shares of Delek US by 126.8% in the second quarter. Creative Planning now owns 19,135 shares of the oil and gas company’s stock valued at $474,000 after buying an additional 10,697 shares during the last quarter. Finally, Algert Global LLC boosted its stake in shares of Delek US by 71.5% during the second quarter. Algert Global LLC now owns 140,623 shares of the oil and gas company’s stock worth $3,482,000 after buying an additional 58,627 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Delek US Stock Down 3.0 %

The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -15.90 and a beta of 1.14. The firm’s 50 day moving average price is $20.98 and its two-hundred day moving average price is $25.16. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.98 and a quick ratio of 0.58.

Delek US (NYSE:DK) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.50. Delek US had a negative return on equity of 4.53% and a negative net margin of 0.69%. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the business posted $1.00 EPS. The company’s revenue was down 18.4% on a year-over-year basis. As a group, sell-side analysts forecast that Delek US Holdings, Inc. will post -2.87 earnings per share for the current fiscal year.

Delek US Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were paid a $0.255 dividend. This is a boost from Delek US’s previous quarterly dividend of $0.20. This represents a $1.02 annualized dividend and a yield of 5.17%. The ex-dividend date of this dividend was Monday, August 12th. Delek US’s payout ratio is currently -82.26%.

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.