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

Delek US (NYSE:DK) had its target price reduced by research analysts at JPMorgan Chase & Co. from $26.00 to $19.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 0.90% from the company’s current price.

A number of other research firms also recently issued reports on DK. 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 report on Thursday, August 8th. Wolfe Research initiated coverage on Delek US in a report on Thursday, July 18th. They set an “underperform” rating and a $19.00 target price on the stock. Wells Fargo & Company upped their price objective on shares of Delek US from $20.00 to $21.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 3rd. Morgan Stanley decreased their price target on Delek US from $24.00 to $22.00 and set an “underweight” rating on the stock in a research note on Monday, September 16th. Finally, Scotiabank decreased their price target on shares of Delek US from $27.00 to $25.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Delek US has a consensus rating of “Hold” and a consensus target price of $24.09.

Delek US Trading Up 0.1 %

DK traded up $0.02 during mid-day trading on Wednesday, hitting $18.83. The stock had a trading volume of 236,674 shares, compared to its average volume of 1,037,082. The stock’s fifty day simple moving average is $20.54 and its 200-day simple moving average is $24.76. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -15.19 and a beta of 1.14. Delek US has a 1-year low of $18.25 and a 1-year high of $33.60. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.98 and a quick ratio of 0.58.

Delek US (NYSE:DK) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.92) EPS 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 business had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the previous year, the firm posted $1.00 EPS. The firm’s revenue was down 18.4% compared to the same quarter last year. As a group, research analysts forecast that Delek US will post -3.19 EPS for the current fiscal year.

Insider Activity

In other news, CEO Avigal Soreq purchased 5,651 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of $20.42 per share, for a total transaction of $115,393.42. Following the transaction, the chief executive officer now owns 188,881 shares of the company’s stock, valued at $3,856,950.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Institutional Trading of Delek US

A number of large investors have recently bought and sold shares of DK. SummerHaven Investment Management LLC increased its stake in Delek US by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 32,845 shares of the oil and gas company’s stock valued at $813,000 after purchasing an additional 580 shares in the last quarter. Shell Asset Management Co. raised its stake in Delek US by 6.8% during the 1st quarter. Shell Asset Management Co. now owns 9,890 shares of the oil and gas company’s stock worth $304,000 after buying an additional 628 shares during the period. ProShare Advisors LLC boosted its holdings in Delek US by 7.1% in the first quarter. ProShare Advisors LLC now owns 11,412 shares of the oil and gas company’s stock worth $351,000 after acquiring an additional 754 shares in the last quarter. Thoroughbred Financial Services LLC increased its holdings in shares of Delek US by 2.5% during the second quarter. Thoroughbred Financial Services LLC now owns 50,394 shares of the oil and gas company’s stock valued at $1,247,000 after acquiring an additional 1,246 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Delek US by 4.0% during the second 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 during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.