StockNews.com Downgrades Delek US (NYSE:DK) to Sell

Delek US (NYSE:DK) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

DK has been the subject of several other reports. Piper Sandler lowered their price objective 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. TD Cowen decreased their target price on Delek US from $19.00 to $18.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company upped their target price on Delek US from $20.00 to $21.00 and gave the company an “underweight” rating in a research report on Tuesday. Wolfe Research initiated coverage on Delek US in a research report on Thursday, July 18th. They issued an “underperform” rating and a $19.00 target price for the company. Finally, Mizuho decreased their target price on Delek US from $31.00 to $27.00 and set an “underperform” rating for the company in a research report on Thursday, June 20th. Six investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $25.40.

Delek US Trading Down 1.2 %

NYSE:DK opened at $19.51 on Thursday. The stock has a 50-day simple moving average of $21.80 and a 200-day simple moving average of $25.66. The stock has a market cap of $1.25 billion, a P/E ratio of -15.73 and a beta of 1.19. Delek US has a 1 year low of $19.33 and a 1 year 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.

Delek US (NYSE:DK) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $0.50. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Delek US had a negative return on equity of 4.53% and a negative net margin of 0.69%. The business’s quarterly revenue was down 18.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.00 EPS. As a group, analysts anticipate that Delek US will post -2.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Delek US news, CEO Avigal Soreq bought 5,651 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $20.42 per share, with a total value of $115,393.42. Following the purchase, the chief executive officer now owns 188,881 shares in the company, valued at approximately $3,856,950.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Delek US news, CEO Avigal Soreq bought 5,651 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $20.42 per share, with a total value of $115,393.42. Following the purchase, the chief executive officer now owns 188,881 shares in the company, valued at approximately $3,856,950.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard J. Marcogliese bought 2,750 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were acquired at an average cost of $23.99 per share, with a total value of $65,972.50. Following the completion of the purchase, the director now owns 42,863 shares in the company, valued at approximately $1,028,283.37. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 2,854 shares of company stock valued at $65,603. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Delek US

A number of large investors have recently modified their holdings of DK. Newbridge Financial Services Group Inc. purchased a new position in Delek US in the 1st quarter valued at approximately $31,000. Quarry LP purchased a new position in Delek US in the 2nd quarter valued at approximately $43,000. TFO Wealth Partners LLC increased its stake in Delek US by 627,400.0% in the 4th quarter. TFO Wealth Partners LLC now owns 6,275 shares of the oil and gas company’s stock valued at $162,000 after purchasing an additional 6,274 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Delek US in the 1st quarter valued at approximately $172,000. Finally, Bailard Inc. purchased a new position in Delek US in the 2nd quarter valued at approximately $201,000. 97.01% of the stock is 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.