Delek US (NYSE:DK) PT Lowered to $23.00 at JPMorgan Chase & Co.

Delek US (NYSE:DK) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $25.00 to $23.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 6.50% from the company’s current price.

DK has been the subject of a number of other research reports. Wells Fargo & Company reduced their target price on Delek US from $26.00 to $25.00 and set an “underweight” rating for the company in a report on Thursday, June 6th. UBS Group increased their target price on Delek US from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Bank of America increased their target price on Delek US from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, March 15th. TD Cowen cut Delek US from a “hold” rating to a “sell” rating and reduced their target price for the company from $25.00 to $20.00 in a report on Monday, June 10th. Finally, Piper Sandler dropped their price target on Delek US from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Delek US has an average rating of “Hold” and an average target price of $26.80.

Delek US Stock Performance

NYSE DK opened at $24.60 on Tuesday. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -19.84 and a beta of 1.19. Delek US has a twelve month low of $21.68 and a twelve month high of $33.60. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 2.40. The stock has a 50-day moving average of $26.17 and a 200 day moving average of $27.23.

Delek US (NYSE:DK) last announced its earnings results on Tuesday, May 7th. The oil and gas company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.15. Delek US had a positive return on equity of 7.37% and a negative net margin of 0.48%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the prior year, the firm earned $1.37 earnings per share. The business’s revenue was down 17.8% compared to the same quarter last year. Sell-side analysts anticipate that Delek US will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling

In other Delek US news, Director Richard J. Marcogliese acquired 2,750 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was bought at an average cost of $23.99 per share, for a total transaction of $65,972.50. Following the completion of the transaction, the director now owns 42,863 shares of the company’s stock, valued at approximately $1,028,283.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 2,854 shares of company stock worth $78,241. Company insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Jump Financial LLC boosted its position in shares of Delek US by 2.1% during the fourth quarter. Jump Financial LLC now owns 113,092 shares of the oil and gas company’s stock worth $2,918,000 after buying an additional 2,325 shares during the period. Grizzlyrock Capital LLC purchased a new position in shares of Delek US during the fourth quarter worth $2,405,000. Raymond James & Associates purchased a new position in shares of Delek US during the fourth quarter worth $13,295,000. Rafferty Asset Management LLC boosted its position in shares of Delek US by 35.2% during the fourth quarter. Rafferty Asset Management LLC now owns 185,458 shares of the oil and gas company’s stock worth $4,785,000 after buying an additional 48,254 shares during the period. Finally, Diversified Trust Co purchased a new position in shares of Delek US during the fourth quarter worth $241,000. 97.01% of the stock is currently 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.