Delek US (NYSE:DK) Shares Down 3.7% Following Analyst Downgrade

Delek US Holdings, Inc. (NYSE:DK) shares fell 3.7% during mid-day trading on Friday after Piper Sandler lowered their price target on the stock from $25.00 to $19.00. Piper Sandler currently has a neutral rating on the stock. Delek US traded as low as $19.45 and last traded at $19.57. 141,882 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 1,030,632 shares. The stock had previously closed at $20.32.

A number of other equities research analysts have also recently issued reports on the stock. Mizuho raised shares of Delek US from an “underperform” rating to a “neutral” rating and reduced their target price for the company from $28.00 to $26.00 in a research report on Monday. Wells Fargo & Company boosted their target price on shares of Delek US from $20.00 to $21.00 and gave the company an “underweight” rating in a research report on Tuesday, September 3rd. StockNews.com raised shares of Delek US from a “sell” rating to a “hold” rating in a research report on Friday, September 13th. Wolfe Research began coverage on shares of Delek US in a research report on Thursday, July 18th. They set an “underperform” rating and a $19.00 price objective for the company. Finally, TD Cowen cut their price objective on shares of Delek US from $19.00 to $18.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $24.73.

Insider Transactions at Delek US

In other news, CEO Avigal Soreq acquired 5,651 shares of the stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $20.42 per share, with a total value 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Delek US

A number of institutional investors and hedge funds have recently modified their holdings of the business. SummerHaven Investment Management LLC boosted its holdings in shares of Delek US by 1.8% during the 2nd quarter. SummerHaven Investment Management LLC now owns 32,845 shares of the oil and gas company’s stock worth $813,000 after buying an additional 580 shares in the last quarter. Shell Asset Management Co. lifted its holdings in shares of Delek US by 6.8% in the 1st quarter. Shell Asset Management Co. now owns 9,890 shares of the oil and gas company’s stock worth $304,000 after purchasing an additional 628 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Delek US by 7.1% in the 1st quarter. ProShare Advisors LLC now owns 11,412 shares of the oil and gas company’s stock worth $351,000 after purchasing an additional 754 shares in the last quarter. Thoroughbred Financial Services LLC lifted its holdings in shares of Delek US by 2.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 50,394 shares of the oil and gas company’s stock worth $1,247,000 after purchasing an additional 1,246 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Delek US by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,415 shares of the oil and gas company’s stock worth $827,000 after purchasing an additional 1,282 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Delek US Trading Down 3.4 %

The business has a fifty day moving average of $21.04 and a 200-day moving average of $25.20. 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 company has a market capitalization of $1.26 billion, a P/E ratio of -15.78 and a beta of 1.14.

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 return on equity of 4.53% and a negative net margin of 0.69%. The business had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same period last year, the business earned $1.00 EPS. The business’s revenue was down 18.4% on a year-over-year basis. Analysts anticipate that Delek US Holdings, Inc. will post -2.87 earnings per share for the current fiscal year.

Delek US Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were given a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, August 12th. This is a positive change from Delek US’s previous quarterly dividend of $0.20. This represents a $1.02 annualized dividend and a dividend yield of 5.20%. Delek US’s dividend payout ratio (DPR) is currently -82.26%.

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.