Delek US (NYSE:DK) Given New $19.00 Price Target at JPMorgan Chase & Co.

Delek US (NYSE:DK) had its price objective decreased by JPMorgan Chase & Co. from $26.00 to $19.00 in a research report sent to investors on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the oil and gas company’s stock.

Several other research analysts have also recently weighed in on DK. Wolfe Research started coverage on shares of Delek US in a research report on Thursday, July 18th. They issued an underperform rating and a $19.00 price objective on the stock. Scotiabank decreased their price target on shares of Delek US from $27.00 to $25.00 and set a sector perform rating on the stock in a report on Friday, July 12th. Wells Fargo & Company lifted their price objective on shares of Delek US from $20.00 to $21.00 and gave the stock an underweight rating in a report on Tuesday, September 3rd. Mizuho raised Delek US from an underperform rating to a neutral rating and reduced their target price for the company from $28.00 to $26.00 in a research note on Monday, September 16th. Finally, Piper Sandler dropped their price target on Delek US from $25.00 to $19.00 and set a neutral rating for the company in a research note on Friday, September 20th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $24.09.

Delek US Trading Down 0.7 %

Shares of Delek US stock opened at $18.68 on Wednesday. The company’s 50-day moving average price is $20.47 and its 200-day moving average price is $24.72. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -15.06 and a beta of 1.14. Delek US has a 12-month low of $18.25 and a 12-month high of $33.60. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 2.50.

Delek US (NYSE:DK) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.50. The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. The business’s quarterly revenue was down 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 earnings per share. On average, equities analysts expect that Delek US will post -3.19 earnings per share for the current fiscal year.

Delek US Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were issued a $0.255 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.02 annualized dividend and a yield of 5.46%. This is a boost from Delek US’s previous quarterly dividend of $0.20. Delek US’s payout ratio is -82.26%.

Insider Transactions at Delek US

In related news, CEO Avigal Soreq acquired 5,651 shares of the stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $20.42 per share, for a total transaction of $115,393.42. Following the completion of the acquisition, the chief executive officer now directly owns 188,881 shares of the company’s stock, valued at approximately $3,856,950.02. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Delek US

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC grew its stake in shares of Delek US by 269.6% in the 4th quarter. Hsbc Holdings PLC now owns 67,647 shares of the oil and gas company’s stock worth $1,751,000 after buying an additional 49,344 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in Delek US by 35.2% in the 4th quarter. Rafferty Asset Management LLC now owns 185,458 shares of the oil and gas company’s stock worth $4,785,000 after purchasing an additional 48,254 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in Delek US by 3.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 777,576 shares of the oil and gas company’s stock valued at $20,061,000 after purchasing an additional 23,509 shares in the last quarter. Grizzlyrock Capital LLC purchased a new position in Delek US in the fourth quarter worth about $2,405,000. Finally, Oracle Alpha Inc. bought a new position in shares of Delek US in the fourth quarter worth approximately $380,000. 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.