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 research note released on Thursday.

Other analysts also recently issued research reports about the stock. TD Cowen decreased their price target on shares of Delek US from $19.00 to $18.00 and set a sell rating for the company in a research note on Thursday, August 8th. Scotiabank dropped their price target on Delek US from $27.00 to $25.00 and set a sector perform rating on the stock in a research report on Friday, July 12th. JPMorgan Chase & Co. cut their price target on Delek US from $25.00 to $23.00 and set an underweight rating on the stock in a research note on Tuesday, July 2nd. Wolfe Research assumed coverage on shares of Delek US in a research note on Thursday, July 18th. They issued an underperform rating and a $19.00 price objective for the company. Finally, Piper Sandler cut their target price on shares of Delek US from $30.00 to $25.00 and set a neutral rating on the stock in a research report on Friday, June 14th. Six research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $25.40.

Delek US Stock Performance

Shares of Delek US stock opened at $19.52 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 2.50. The stock’s fifty day moving average is $21.80 and its two-hundred day moving average is $25.63. Delek US has a 52 week low of $19.33 and a 52 week high of $33.60. The company has a market capitalization of $1.25 billion, a PE ratio of -15.74 and a beta of 1.14.

Delek US (NYSE:DK) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) 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 the consensus estimate 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 revenue was down 18.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 EPS. As a group, analysts expect that Delek US will post -2.87 earnings per share for the current year.

Delek US Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were issued a dividend of $0.255 per share. The ex-dividend date was Monday, August 12th. This represents a $1.02 annualized dividend and a dividend yield of 5.23%. This is an increase from Delek US’s previous quarterly dividend of $0.20. Delek US’s dividend payout ratio is -82.26%.

Insider Activity

In related news, Director Richard J. Marcogliese acquired 2,750 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were purchased at an average price of $23.99 per share, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Richard J. Marcogliese acquired 2,750 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were purchased at an average price of $23.99 per share, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Avigal Soreq acquired 5,651 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were bought at an average price 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 of the company’s stock, valued at $3,856,950.02. The disclosure for this purchase can be found here. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Delek US

Large investors have recently bought and sold shares of the company. Jump Financial LLC boosted its position in Delek US by 2.1% in the fourth quarter. Jump Financial LLC now owns 113,092 shares of the oil and gas company’s stock valued at $2,918,000 after buying an additional 2,325 shares during the last quarter. Grizzlyrock Capital LLC purchased a new stake in Delek US in the 4th quarter worth approximately $2,405,000. Heartland Advisors Inc. purchased a new stake in Delek US in the 1st quarter worth approximately $1,537,000. Rafferty Asset Management LLC boosted its position 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. Finally, Sei Investments Co. boosted its position in Delek US by 44.1% in the 1st quarter. Sei Investments Co. now owns 176,442 shares of the oil and gas company’s stock worth $5,424,000 after purchasing an additional 53,957 shares in the last quarter. 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.