Delek US (NYSE:DK) Upgraded by Mizuho to Neutral

Mizuho upgraded shares of Delek US (NYSE:DK) from an underperform rating to a neutral rating in a research note released on Monday, Marketbeat reports. Mizuho currently has $26.00 price target on the oil and gas company’s stock, down from their prior price target of $28.00.

DK has been the subject of a number of other reports. Wolfe Research started coverage on shares of Delek US in a research report on Thursday, July 18th. They set an underperform rating and a $19.00 target price for the company. Wells Fargo & Company boosted their target price on Delek US from $20.00 to $21.00 and gave the company an underweight rating in a research note on Tuesday, September 3rd. StockNews.com upgraded Delek US from a sell rating to a hold rating in a research note on Friday. JPMorgan Chase & Co. upgraded Delek US from an underweight rating to a neutral rating and boosted their price objective for the company from $23.00 to $26.00 in a research note on Tuesday, September 10th. Finally, Scotiabank dropped their price objective 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. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $25.27.

Delek US Stock Performance

DK stock opened at $19.42 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 2.50. The firm has a market cap of $1.25 billion, a PE ratio of -15.66 and a beta of 1.14. The business has a 50 day moving average of $21.18 and a 200-day moving average of $25.31. Delek US has a 12-month low of $18.35 and a 12-month high of $33.60.

Delek US (NYSE:DK) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.50. The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 18.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 EPS. As a group, sell-side analysts expect that Delek US will post -2.87 earnings per share for the current year.

Delek US Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were paid a dividend of $0.255 per share. The ex-dividend date was Monday, August 12th. This represents a $1.02 annualized dividend and a yield of 5.25%. This is a boost from Delek US’s previous quarterly dividend of $0.20. Delek US’s payout ratio is currently -82.26%.

Insider Buying and Selling

In other news, CEO Avigal Soreq purchased 5,651 shares of the business’s stock in a transaction on Friday, August 9th. The stock was purchased at an average cost 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 in the company, valued at $3,856,950.02. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Delek US

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in shares of Delek US by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 620,957 shares of the oil and gas company’s stock valued at $16,021,000 after acquiring an additional 13,238 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Delek US during the fourth quarter valued at approximately $395,000. Dimensional Fund Advisors LP grew its stake in Delek US by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,139,059 shares of the oil and gas company’s stock worth $106,790,000 after buying an additional 59,537 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Delek US by 10.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 65,508 shares of the oil and gas company’s stock worth $1,690,000 after buying an additional 6,398 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Delek US during the 4th quarter valued at $16,341,000. Institutional investors own 97.01% of the company’s stock.

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.