Morgan Stanley Cuts Delek US (NYSE:DK) Price Target to $18.00

Delek US (NYSE:DK) had its price target cut by Morgan Stanley from $19.00 to $18.00 in a report released on Friday,Benzinga reports. They currently have an underweight rating on the oil and gas company’s stock.

DK has been the subject of several other research reports. Mizuho dropped their price objective on shares of Delek US from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Piper Sandler dropped their price target on Delek US from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Wells Fargo & Company reduced their price objective on Delek US from $17.00 to $15.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upped their target price on Delek US from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Wolfe Research upgraded Delek US from an “underperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Five analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.30.

Delek US Stock Performance

NYSE DK opened at $15.66 on Friday. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.04 and a quick ratio of 0.67. Delek US has a 1-year low of $13.40 and a 1-year high of $33.60. The company has a market cap of $978.64 million, a PE ratio of -3.22 and a beta of 1.15. The stock’s 50 day simple moving average is $17.60 and its 200-day simple moving average is $18.08.

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

Delek US Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, March 3rd were issued a dividend of $0.255 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.02 annualized dividend and a dividend yield of 6.52%. Delek US’s payout ratio is currently -11.54%.

Insider Activity at Delek US

In other news, CFO Mark Wayne Hobbs acquired 2,800 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $13.70 per share, with a total value of $38,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 49,138 shares in the company, valued at $673,190.60. This represents a 6.04 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders bought 5,055 shares of company stock valued at $70,787. Corporate insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC increased its stake in Delek US by 728.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,491 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 1,311 shares during the last quarter. KBC Group NV grew its holdings in shares of Delek US by 66.3% during the fourth quarter. KBC Group NV now owns 3,859 shares of the oil and gas company’s stock valued at $71,000 after purchasing an additional 1,538 shares during the last quarter. ARS Investment Partners LLC bought a new stake in shares of Delek US in the 4th quarter worth approximately $185,000. Capstone Investment Advisors LLC acquired a new position in Delek US during the 3rd quarter valued at approximately $193,000. Finally, Abel Hall LLC acquired a new stake in Delek US in the fourth quarter worth $196,000. Institutional investors and hedge funds 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.