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

Delek US Holdings, Inc. (NYSE:DK) dropped 3.7% during 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. Approximately 141,882 shares traded hands during trading, a decline of 86% from the average daily volume of 1,030,632 shares. The stock had previously closed at $20.32.

A number of other analysts have also recently weighed in on DK. StockNews.com upgraded shares of Delek US from a “sell” rating to a “hold” rating in a report on Friday, September 13th. Wells Fargo & Company raised their target price on shares of Delek US from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Tuesday, September 3rd. Scotiabank reduced their target price on shares of Delek US from $27.00 to $25.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Morgan Stanley reduced their target price on shares of Delek US from $24.00 to $22.00 and set an “underweight” rating for the company in a report on Monday. Finally, Wolfe Research started coverage on shares of Delek US in a report on Thursday, July 18th. They set an “underperform” rating and a $19.00 target price for the company. Four analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $24.73.

Insiders Place Their Bets

In other Delek US news, CEO Avigal Soreq bought 5,651 shares of the stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $20.42 per share, for a total transaction of $115,393.42. Following the completion of the purchase, the chief executive officer now owns 188,881 shares in the company, valued at approximately $3,856,950.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Delek US

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC boosted its holdings in Delek US by 1.8% during the second 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 during the last quarter. Shell Asset Management Co. lifted its holdings in shares of 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 valued at $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% during the 1st quarter. ProShare Advisors LLC now owns 11,412 shares of the oil and gas company’s stock valued at $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% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 50,394 shares of the oil and gas company’s stock valued at $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% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,415 shares of the oil and gas company’s stock valued at $827,000 after purchasing an additional 1,282 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Delek US Price Performance

The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 2.50. The firm has a market cap of $1.26 billion, a P/E ratio of -15.78 and a beta of 1.14. The company has a fifty day moving average price of $21.04 and a two-hundred day moving average price of $25.20.

Delek US (NYSE:DK) last announced its earnings results 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 business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.31 billion. Delek US had a negative return on equity of 4.53% and a negative net margin of 0.69%. Delek US’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.00 EPS. Equities analysts anticipate that Delek US Holdings, Inc. will post -2.87 earnings per share for the current year.

Delek US Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were issued 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 dividend on an annualized basis and a dividend yield of 5.20%. Delek US’s payout ratio is presently -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.