Delek US (NYSE:DK) Downgraded by StockNews.com

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 to clients and investors on Saturday.

A number of other research firms have also recently issued reports on DK. Scotiabank decreased their target price on Delek US from $27.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. TD Cowen decreased their target price on Delek US from $19.00 to $18.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Piper Sandler decreased their target price on Delek US from $25.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday. Wells Fargo & Company lifted 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, September 3rd. Finally, JPMorgan Chase & Co. upgraded Delek US from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $23.00 to $26.00 in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $24.73.

Delek US Stock Down 3.0 %

DK stock opened at $19.72 on Friday. The company has a market cap of $1.26 billion, a PE ratio of -15.90 and a beta of 1.14. The business has a 50-day simple moving average of $20.98 and a 200 day simple moving average of $25.16. Delek US has a 52 week low of $18.35 and a 52 week high of $33.60. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 2.50.

Delek US (NYSE:DK) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) EPS for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.50. The business 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%. Delek US’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.00 earnings per share. Sell-side analysts anticipate that Delek US will post -2.87 EPS for the current fiscal year.

Insider Buying and Selling at Delek US

In other Delek US news, CEO Avigal Soreq purchased 5,651 shares of the company’s stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $20.42 per share, with a total value of $115,393.42. Following the completion of the purchase, the chief executive officer now owns 188,881 shares in the company, valued at $3,856,950.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Delek US

A number of institutional investors have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Delek US during the second quarter worth approximately $223,000. Point72 Asset Management L.P. purchased a new stake in Delek US in the 2nd quarter valued at $19,806,000. Quarry LP purchased a new stake in Delek US in the 2nd quarter valued at $43,000. Creative Planning raised its position in Delek US by 126.8% in the 2nd quarter. Creative Planning now owns 19,135 shares of the oil and gas company’s stock valued at $474,000 after buying an additional 10,697 shares during the last quarter. Finally, Algert Global LLC raised its position in Delek US by 71.5% in the 2nd quarter. Algert Global LLC now owns 140,623 shares of the oil and gas company’s stock valued at $3,482,000 after buying an additional 58,627 shares during the last quarter. 97.01% of the stock is 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.