Delek US (NYSE:DK) Price Target Raised to $21.00

Delek US (NYSE:DK) had its target price boosted by Wells Fargo & Company from $20.00 to $21.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an underweight rating on the oil and gas company’s stock.

A number of other research analysts have also recently commented on the company. Wolfe Research began coverage on Delek US in a research note on Thursday, July 18th. They issued an underperform rating and a $19.00 target price on the stock. Piper Sandler reduced their price target 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. 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 research note on Friday, July 12th. JPMorgan Chase & Co. reduced their target price on shares of Delek US from $25.00 to $23.00 and set an underweight rating on the stock in a report on Tuesday, July 2nd. Finally, TD Cowen lowered 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. Six equities 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 company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $25.40.

Delek US Price Performance

Delek US stock opened at $19.74 on Tuesday. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -15.92 and a beta of 1.19. 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 business has a 50-day simple moving average of $21.90 and a 200 day simple moving average of $25.72. Delek US has a 52 week low of $19.33 and a 52 week high of $33.60.

Delek US (NYSE:DK) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) EPS for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.50. The business had revenue of $3.42 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 EPS. On average, research analysts forecast that Delek US will post -2.87 earnings per share for the current fiscal year.

Delek US Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were issued a $0.255 dividend. The ex-dividend date of this dividend was Monday, August 12th. This is a positive change from Delek US’s previous quarterly dividend of $0.20. This represents a $1.02 annualized dividend and a yield of 5.17%. Delek US’s dividend payout ratio is -82.26%.

Insider Transactions at Delek US

In other news, CEO Avigal Soreq purchased 5,651 shares of Delek US stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of $20.42 per share, with a total value of $115,393.42. Following the completion of the purchase, the chief executive officer now directly owns 188,881 shares in the company, valued at $3,856,950.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Richard J. Marcogliese bought 2,750 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were acquired 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 owns 42,863 shares of the company’s stock, valued at approximately $1,028,283.37. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Avigal Soreq purchased 5,651 shares of Delek US stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $20.42 per share, with a total value 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 $3,856,950.02. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 2,854 shares of company stock valued at $65,603. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DK. Dimensional Fund Advisors LP grew its stake in shares of Delek US by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,139,059 shares of the oil and gas company’s stock worth $106,790,000 after acquiring an additional 59,537 shares during the period. Encompass Capital Advisors LLC purchased a new stake in Delek US during the 2nd quarter valued at $22,833,000. SIR Capital Management L.P. increased its position in Delek US by 37.2% during the second quarter. SIR Capital Management L.P. now owns 876,133 shares of the oil and gas company’s stock valued at $21,693,000 after acquiring an additional 237,734 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Delek US in the second quarter valued at about $19,806,000. Finally, Bridgeway Capital Management LLC boosted its position in Delek US by 3.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 777,576 shares of the oil and gas company’s stock worth $20,061,000 after purchasing an additional 23,509 shares during the last quarter. 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.