Piper Sandler Has Lowered Expectations for Delek US (NYSE:DK) Stock Price

Delek US (NYSE:DK) had its price target cut by Piper Sandler from $18.00 to $17.00 in a report released on Friday,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

A number of other equities analysts have also recently commented on DK. Mizuho cut their price target 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. Wells Fargo & Company cut their price target on shares of Delek US from $17.00 to $15.00 and set an “underweight” rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price target on shares of Delek US from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Wolfe Research upgraded shares of Delek US from an “underperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Five research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.70.

Delek US Price Performance

Shares of NYSE:DK opened at $14.26 on Friday. The company has a 50 day moving average of $18.00 and a 200 day moving average of $18.29. The stock has a market cap of $891.25 million, a P/E ratio of -2.93 and a beta of 1.14. Delek US has a 12 month low of $14.04 and a 12 month high of $33.60. 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 released its quarterly earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) EPS for the quarter, missing analysts’ consensus estimates of ($1.53) by ($1.01). Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the firm earned ($1.46) EPS. Delek US’s quarterly revenue was down 39.8% on a year-over-year basis. As a group, sell-side analysts forecast that Delek US will post -5.5 EPS for the current fiscal year.

Delek US Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, March 3rd will be issued a $0.255 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 7.15%. Delek US’s payout ratio is -11.54%.

Institutional Investors Weigh In On Delek US

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its holdings in Delek US by 67.8% during the 4th quarter. Mackenzie Financial Corp now owns 39,617 shares of the oil and gas company’s stock valued at $733,000 after buying an additional 16,009 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in Delek US during the 4th quarter valued at $363,000. Public Employees Retirement System of Ohio bought a new stake in Delek US during the 4th quarter valued at $780,000. GTS Securities LLC bought a new stake in Delek US during the 4th quarter valued at $390,000. Finally, Squarepoint Ops LLC bought a new stake in Delek US during the 4th quarter valued at $856,000. 97.01% of the stock is currently owned by 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.