Bank of America Begins Coverage on Delek US (NYSE:DK)

Bank of America assumed coverage on shares of Delek US (NYSE:DK) in a research report released on Thursday, Marketbeat Ratings reports. The firm issued an underperform rating and a $15.00 price objective on the oil and gas company’s stock.

Other research analysts also recently issued reports about the company. Wells Fargo & Company decreased their price objective on Delek US from $21.00 to $18.00 and set an “underweight” rating for the company in a report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price target on shares of Delek US from $26.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. StockNews.com lowered shares of Delek US from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. Piper Sandler reduced their target price on shares of Delek US from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Finally, TD Cowen lowered their price target on shares of Delek US from $19.00 to $18.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Delek US has an average rating of “Hold” and a consensus price target of $22.00.

Delek US Stock Performance

Shares of DK stock opened at $17.11 on Thursday. The company has a market capitalization of $1.10 billion, a P/E ratio of -13.80 and a beta of 1.13. Delek US has a 52 week low of $17.02 and a 52 week high of $33.60. 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’s 50 day moving average price is $19.70 and its two-hundred day moving average price is $23.67.

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. The business had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. The firm’s revenue was down 18.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.00 EPS. On average, analysts expect that Delek US will post -3.79 earnings per share for the current fiscal year.

Delek US Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were paid a $0.255 dividend. This is a positive change from Delek US’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, August 12th. This represents a $1.02 annualized dividend and a yield of 5.96%. Delek US’s dividend payout ratio is currently -82.26%.

Insider Transactions at Delek US

In other Delek US news, CEO Avigal Soreq purchased 5,651 shares of the business’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $20.42 per share, with a total value of $115,393.42. Following the acquisition, the chief executive officer now directly owns 188,881 shares of the company’s stock, valued at $3,856,950.02. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DK. Quadrature Capital Ltd bought a new position in Delek US during the 4th quarter worth $406,000. Counterpoint Mutual Funds LLC acquired a new stake in Delek US in the 1st quarter worth about $270,000. Diversified Trust Co boosted its holdings in Delek US by 15.7% in the 1st quarter. Diversified Trust Co now owns 10,824 shares of the oil and gas company’s stock valued at $333,000 after purchasing an additional 1,472 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Delek US in the 1st quarter valued at about $172,000. Finally, Janney Montgomery Scott LLC grew its position in shares of Delek US by 9.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 71,863 shares of the oil and gas company’s stock worth $2,209,000 after purchasing an additional 6,355 shares in the last quarter. 97.01% of the stock is 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.