JPMorgan Chase & Co. Trims Delek US (NYSE:DK) Target Price to $19.00

Delek US (NYSE:DK) had its price target lowered by JPMorgan Chase & Co. from $26.00 to $19.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

Several other brokerages also recently commented on DK. StockNews.com downgraded Delek US from a hold rating to a sell rating in a report on Saturday, September 21st. TD Cowen dropped their target price on shares of Delek US from $19.00 to $18.00 and set a sell rating on the stock in a report on Thursday, August 8th. Scotiabank cut their target price on shares of Delek US from $27.00 to $25.00 and set a sector perform rating for the company in a research report on Friday, July 12th. Morgan Stanley lowered their price target on Delek US from $24.00 to $22.00 and set an underweight rating on the stock in a research report on Monday, September 16th. Finally, Mizuho raised Delek US from an underperform rating to a neutral rating and cut their price objective for the stock from $28.00 to $26.00 in a research report on Monday, September 16th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $24.09.

Delek US Trading Down 0.6 %

Shares of NYSE:DK opened at $20.25 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 2.50. The stock has a market capitalization of $1.30 billion, a PE ratio of -16.33 and a beta of 1.13. Delek US has a 1 year low of $18.25 and a 1 year high of $33.60. The firm has a fifty day moving average price of $20.35 and a 200 day moving average price of $24.62.

Delek US (NYSE:DK) last released its quarterly 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. Delek US had a negative return on equity of 4.53% and a negative net margin of 0.69%. The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter in the prior year, the company posted $1.00 EPS. The firm’s revenue was down 18.4% on a year-over-year basis. Analysts expect that Delek US will post -3.19 EPS for the current fiscal year.

Delek US Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were issued a $0.255 dividend. This is a boost from Delek US’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.02 annualized dividend and a yield of 5.04%. Delek US’s dividend payout ratio is -82.26%.

Insider Transactions at Delek US

In other Delek US news, CEO Avigal Soreq purchased 5,651 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were purchased at an average price of $20.42 per share, for a total transaction of $115,393.42. Following the completion of the purchase, the chief executive officer now directly owns 188,881 shares of the company’s stock, valued at approximately $3,856,950.02. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Encompass Capital Advisors LLC bought a new position in shares of Delek US during the second quarter valued at $22,833,000. Point72 Asset Management L.P. bought a new position in Delek US during the 2nd quarter valued at about $19,806,000. SIR Capital Management L.P. boosted its position in Delek US by 37.2% in 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 buying an additional 237,734 shares in the last quarter. Acadian Asset Management LLC grew its stake in Delek US by 627.2% during the first quarter. Acadian Asset Management LLC now owns 266,663 shares of the oil and gas company’s stock worth $8,191,000 after buying an additional 229,992 shares during the last quarter. Finally, Highland Peak Capital LLC acquired a new stake in shares of Delek US during the second quarter worth approximately $5,241,000. Institutional investors own 97.01% of the company’s stock.

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.