Piper Sandler Cuts Delek US (NYSE:DK) Price Target to $19.00

Delek US (NYSE:DK) had its price target cut by Piper Sandler from $25.00 to $19.00 in a report released on Friday, Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

DK has been the subject of several other research reports. Morgan Stanley dropped their price objective on shares of Delek US from $24.00 to $22.00 and set an underweight rating for the company in a research note on Monday, September 16th. TD Cowen lowered their price objective on Delek US from $19.00 to $18.00 and set a sell rating on the stock in a research note on Thursday, August 8th. Mizuho raised shares of Delek US from an underperform rating to a neutral rating and dropped their price objective for the company from $28.00 to $26.00 in a report on Monday, September 16th. StockNews.com raised shares of Delek US from a sell rating to a hold rating in a research report on Friday, September 13th. Finally, Wells Fargo & Company raised their target price on Delek US from $20.00 to $21.00 and gave the stock an underweight rating in a research note on Tuesday, September 3rd. 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 company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $24.73.

Delek US Stock Performance

NYSE DK opened at $19.67 on Friday. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.98 and a quick ratio of 0.58. The stock’s 50 day simple moving average is $20.91 and its 200-day simple moving average is $25.11. The company has a market cap of $1.26 billion, a PE ratio of -15.86 and a beta of 1.14. Delek US has a 1-year low of $18.35 and a 1-year high of $33.60.

Delek US (NYSE:DK) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $0.50. The company 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 firm’s quarterly revenue was down 18.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.00 EPS. As a group, equities research analysts anticipate that Delek US will post -2.87 EPS for the current fiscal year.

Delek US Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were paid a dividend of $0.255 per share. The ex-dividend date was Monday, August 12th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.19%. This is an increase from Delek US’s previous quarterly dividend of $0.20. Delek US’s payout ratio is presently -82.26%.

Insider Activity at Delek US

In related news, CEO Avigal Soreq bought 5,651 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $20.42 per share, with a total value of $115,393.42. Following the transaction, 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 legal filing with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Grizzlyrock Capital LLC purchased a new position in shares of Delek US during the 4th quarter worth approximately $2,405,000. Heartland Advisors Inc. acquired a new stake in Delek US in the first quarter worth $1,537,000. Rafferty Asset Management LLC boosted its stake in Delek US by 35.2% during the 4th quarter. Rafferty Asset Management LLC now owns 185,458 shares of the oil and gas company’s stock valued at $4,785,000 after purchasing an additional 48,254 shares during the period. Sei Investments Co. raised its stake in Delek US by 44.1% during the 1st quarter. Sei Investments Co. now owns 176,442 shares of the oil and gas company’s stock valued at $5,424,000 after acquiring an additional 53,957 shares in the last quarter. Finally, Easterly Investment Partners LLC grew its position in Delek US by 26.7% in the 2nd quarter. Easterly Investment Partners LLC now owns 457,536 shares of the oil and gas company’s stock valued at $11,329,000 after buying an additional 96,531 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

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.