Delek US (NYSE:DK) Given New $23.00 Price Target at JPMorgan Chase & Co.

Delek US (NYSE:DK) had its price target lowered by JPMorgan Chase & Co. from $25.00 to $23.00 in a research report released on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the oil and gas company’s stock.

A number of other analysts also recently weighed in on the company. Wells Fargo & Company decreased their price target on Delek US from $26.00 to $25.00 and set an underweight rating on the stock in a research note on Thursday, June 6th. Scotiabank lifted their price target on Delek US from $25.00 to $27.00 and gave the company a sector perform rating in a research note on Thursday, April 11th. Mizuho decreased their price target on Delek US from $31.00 to $27.00 and set an underperform rating on the stock in a research note on Thursday, June 20th. Piper Sandler decreased their price target on Delek US from $30.00 to $25.00 and set a neutral rating on the stock in a research note on Friday, June 14th. Finally, Bank of America boosted their target price on Delek US from $30.00 to $32.00 and gave the stock a neutral rating in a research report on Friday, March 15th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $26.80.

Delek US Trading Down 1.2 %

Shares of DK stock opened at $24.68 on Tuesday. The business’s 50 day moving average is $26.27 and its two-hundred day moving average is $27.25. Delek US has a twelve month low of $21.68 and a twelve month high of $33.60. The company has a market capitalization of $1.58 billion, a P/E ratio of -19.90 and a beta of 1.19. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 2.40.

Delek US (NYSE:DK) last announced its earnings results on Tuesday, May 7th. The oil and gas company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.15. Delek US had a positive return on equity of 7.37% and a negative net margin of 0.48%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same period last year, the business posted $1.37 EPS. The company’s revenue was down 17.8% on a year-over-year basis. Equities analysts forecast that Delek US will post 0.5 EPS for the current year.

Delek US Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 17th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.05%. This is a boost from Delek US’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, May 16th. Delek US’s payout ratio is -80.65%.

Insider Transactions at Delek US

In related news, Director Richard J. Marcogliese purchased 2,750 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was bought at an average cost of $23.99 per share, with a total value of $65,972.50. Following the completion of the acquisition, the director now directly owns 42,863 shares in the company, valued at approximately $1,028,283.37. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 2,854 shares of company stock valued at $78,241 over the last three months. 0.35% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Delek US

Institutional investors have recently added to or reduced their stakes in the business. Spirit of America Management Corp NY acquired a new position in Delek US in the fourth quarter valued at $26,000. Newbridge Financial Services Group Inc. purchased a new stake in Delek US during the first quarter valued at about $31,000. Strs Ohio purchased a new stake in Delek US during the fourth quarter valued at about $95,000. Allspring Global Investments Holdings LLC purchased a new stake in Delek US during the first quarter valued at about $172,000. Finally, TFO Wealth Partners LLC grew its position in Delek US by 627,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 6,275 shares of the oil and gas company’s stock valued at $162,000 after acquiring an additional 6,274 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.