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

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

Other equities analysts have also issued reports about the company. Scotiabank decreased their price objective on Delek US from $27.00 to $25.00 and set a sector perform rating for the company in a report on Friday, July 12th. Wolfe Research assumed coverage on Delek US in a research note on Thursday, July 18th. They issued an underperform rating and a $19.00 price target for the company. Mizuho raised Delek US from an underperform rating to a neutral rating and lowered their price target for the company from $28.00 to $26.00 in a report on Monday, September 16th. Morgan Stanley reduced their price objective on shares of Delek US from $24.00 to $22.00 and set an underweight rating for the company in a report on Monday, September 16th. Finally, StockNews.com cut shares of Delek US from a hold rating to a sell rating in a research note on Saturday, September 21st. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Delek US has a consensus rating of Hold and a consensus target price of $24.09.

Delek US Stock Performance

DK stock opened at $20.25 on Wednesday. Delek US has a 1 year low of $18.25 and a 1 year high of $33.60. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -16.33 and a beta of 1.13. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.58 and a current ratio of 0.98. The stock’s fifty day moving average is $20.35 and its two-hundred day moving average is $24.62.

Delek US (NYSE:DK) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.50. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the firm posted $1.00 EPS. Delek US’s quarterly revenue was down 18.4% compared to the same quarter last year. On average, research analysts predict that Delek US will post -3.19 EPS for the current year.

Delek US Increases Dividend

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

Insider Activity at Delek US

In related news, CEO Avigal Soreq acquired 5,651 shares of Delek US stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $20.42 per share, with a total value of $115,393.42. Following the purchase, the chief executive officer now directly owns 188,881 shares in the company, valued at $3,856,950.02. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Delek US

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC raised its stake in Delek US by 54.6% during the 3rd quarter. SG Americas Securities LLC now owns 124,178 shares of the oil and gas company’s stock valued at $2,328,000 after purchasing an additional 43,881 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Delek US during the second quarter valued at $223,000. Point72 Asset Management L.P. acquired a new position in Delek US during the second quarter valued at $19,806,000. Quarry LP purchased a new stake in Delek US in the 2nd quarter worth about $43,000. Finally, Creative Planning boosted its position in Delek US by 126.8% during the 2nd quarter. Creative Planning now owns 19,135 shares of the oil and gas company’s stock worth $474,000 after acquiring an additional 10,697 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

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.