Delek US (NYSE:DK) Downgraded by StockNews.com to Sell

StockNews.com cut shares of Delek US (NYSE:DK) from a hold rating to a sell rating in a report released on Thursday morning.

Several other research analysts also recently weighed in on the company. Mizuho reduced their target price on Delek US from $31.00 to $27.00 and set an underperform rating for the company in a research note on Thursday, June 20th. Scotiabank reduced their target price on Delek US from $27.00 to $25.00 and set a sector perform rating for the company in a research note on Friday, July 12th. Wells Fargo & Company upped 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. TD Cowen reduced their target price on Delek US from $19.00 to $18.00 and set a sell rating for the company in a research note on Thursday, August 8th. Finally, Piper Sandler reduced their price objective on Delek US from $30.00 to $25.00 and set a neutral rating for the company in a research note on Friday, June 14th. Six research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $25.40.

Delek US Trading Down 1.1 %

Delek US stock opened at $19.52 on Thursday. 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 has a 12 month low of $19.33 and a 12 month high of $33.60. The stock’s 50 day simple moving average is $21.80 and its two-hundred day simple moving average is $25.63. The firm has a market cap of $1.25 billion, a PE ratio of -15.74 and a beta of 1.14.

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, topping the consensus estimate of ($1.42) by $0.50. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.31 billion. Delek US had a negative return on equity of 4.53% and a negative net margin of 0.69%. The business’s quarterly revenue was down 18.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 EPS. Analysts anticipate that Delek US will post -2.87 earnings per share for the current year.

Delek US Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were paid a $0.255 dividend. The ex-dividend date of this dividend was Monday, August 12th. This is an increase from Delek US’s previous quarterly dividend of $0.20. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.23%. Delek US’s dividend payout ratio (DPR) is -82.26%.

Insiders Place Their Bets

In related news, Director Richard J. Marcogliese bought 2,750 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was acquired at an average cost of $23.99 per share, with a total value of $65,972.50. Following the purchase, the director now directly owns 42,863 shares of the company’s stock, valued at $1,028,283.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Delek US news, CEO Avigal Soreq purchased 5,651 shares of the stock in a transaction dated 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 acquisition, the chief executive officer now owns 188,881 shares in the company, valued at approximately $3,856,950.02. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard J. Marcogliese purchased 2,750 shares of the stock in a transaction dated Wednesday, June 12th. The shares were acquired at an average price of $23.99 per share, with a total value of $65,972.50. Following the completion of the acquisition, the director now owns 42,863 shares in the company, valued at approximately $1,028,283.37. The disclosure for this purchase can be found here. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Delek US

A number of hedge funds have recently modified their holdings of DK. Charles Schwab Investment Management Inc. grew its holdings in shares of Delek US by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 620,957 shares of the oil and gas company’s stock worth $16,021,000 after purchasing an additional 13,238 shares during the period. Versor Investments LP purchased a new position in shares of Delek US during the 4th quarter worth $406,000. Teacher Retirement System of Texas purchased a new position in shares of Delek US during the 4th quarter worth $395,000. Jump Financial LLC grew its holdings in shares of Delek US by 2.1% during the 4th quarter. Jump Financial LLC now owns 113,092 shares of the oil and gas company’s stock worth $2,918,000 after purchasing an additional 2,325 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Delek US by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,139,059 shares of the oil and gas company’s stock valued at $106,790,000 after acquiring an additional 59,537 shares during the period. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

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.