Delek US (NYSE:DK) Price Target Cut to $23.00 by Analysts at Raymond James

Delek US (NYSE:DK) had its price objective decreased by Raymond James from $24.00 to $23.00 in a research report sent to investors on Wednesday,Benzinga reports. Raymond James currently has an outperform rating on the oil and gas company’s stock.

DK has been the topic of several other reports. Piper Sandler decreased their price target on shares of Delek US from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. JPMorgan Chase & Co. boosted their price objective on Delek US from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Morgan Stanley decreased their price objective on shares of Delek US from $19.00 to $18.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Mizuho dropped their price target on Delek US from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company upped their price objective on shares of Delek US from $15.00 to $16.00 and gave the stock an “underweight” rating in a report on Friday, March 21st. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.66.

Delek US Price Performance

Shares of DK traded down $0.88 during mid-day trading on Wednesday, reaching $12.23. 1,046,708 shares of the stock traded hands, compared to its average volume of 1,202,195. The company has a market cap of $764.53 million, a price-to-earnings ratio of -2.51 and a beta of 1.04. Delek US has a 1 year low of $11.03 and a 1 year high of $32.09. The firm has a fifty day moving average price of $15.98 and a 200 day moving average price of $17.42. The company has a current ratio of 1.04, a quick ratio of 0.67 and a debt-to-equity ratio of 3.18.

Delek US (NYSE:DK) last issued its quarterly earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.53) by ($1.01). The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.58 billion. Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The business’s revenue was down 39.8% compared to the same quarter last year. During the same quarter last year, the business posted ($1.46) EPS. As a group, equities research analysts predict that Delek US will post -5.5 earnings per share for the current year.

Delek US Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, March 3rd were paid a $0.255 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.02 annualized dividend and a dividend yield of 8.34%. Delek US’s dividend payout ratio (DPR) is -11.54%.

Insider Buying and Selling

In other news, CFO Mark Wayne Hobbs purchased 2,800 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $13.70 per share, for a total transaction of $38,360.00. Following the completion of the transaction, the chief financial officer now directly owns 49,138 shares in the company, valued at $673,190.60. This trade represents a 6.04 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders have purchased 5,055 shares of company stock valued at $70,787. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Delek US

A number of institutional investors have recently added to or reduced their stakes in the stock. Ion Asset Management Ltd. lifted its stake in Delek US by 16.5% in the 4th quarter. Ion Asset Management Ltd. now owns 3,455,000 shares of the oil and gas company’s stock worth $63,918,000 after purchasing an additional 488,509 shares in the last quarter. State Street Corp raised its holdings in shares of Delek US by 8.0% during the 3rd quarter. State Street Corp now owns 3,019,307 shares of the oil and gas company’s stock worth $56,612,000 after acquiring an additional 223,110 shares in the last quarter. Barclays PLC grew its holdings in shares of Delek US by 23.1% in the fourth quarter. Barclays PLC now owns 1,842,035 shares of the oil and gas company’s stock valued at $34,078,000 after purchasing an additional 345,210 shares in the last quarter. Geode Capital Management LLC increased its position in Delek US by 4.5% in the third quarter. Geode Capital Management LLC now owns 1,459,301 shares of the oil and gas company’s stock worth $27,368,000 after purchasing an additional 63,502 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in Delek US by 21.9% in the fourth quarter. Nuveen Asset Management LLC now owns 1,005,309 shares of the oil and gas company’s stock worth $18,598,000 after purchasing an additional 180,498 shares during the last quarter. 97.01% of the stock is 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.