Delek US (NYSE:DK) Price Target Cut to $19.00

Delek US (NYSE:DK) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from $26.00 to $19.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 0.90% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. TD Cowen cut their target price on shares of Delek US from $19.00 to $18.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Scotiabank reduced their target price on Delek US from $27.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Morgan Stanley decreased their price objective on Delek US from $24.00 to $22.00 and set an “underweight” rating on the stock in a research note on Monday, September 16th. Mizuho raised shares of Delek US from an “underperform” rating to a “neutral” rating and cut their target price for the company from $28.00 to $26.00 in a research note on Monday, September 16th. Finally, Piper Sandler cut their price objective on shares of Delek US from $25.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $24.09.

Delek US Price Performance

Shares of DK stock traded up $0.02 during midday trading on Wednesday, reaching $18.83. 236,674 shares of the company traded hands, compared to its average volume of 1,037,082. The firm has a market cap of $1.21 billion, a PE ratio of -15.19 and a beta of 1.14. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.98 and a quick ratio of 0.58. The firm’s 50 day simple moving average is $20.54 and its two-hundred day simple moving average is $24.76. Delek US has a 1-year low of $18.25 and a 1-year high of $33.60.

Delek US (NYSE:DK) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) EPS for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.50. The company had revenue of $3.42 billion for 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 quarterly revenue was down 18.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 earnings per share. On average, equities research analysts expect that Delek US will post -3.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Avigal Soreq acquired 5,651 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $20.42 per share, for a total transaction of $115,393.42. Following the completion of the purchase, the chief executive officer now directly owns 188,881 shares of the company’s stock, valued at $3,856,950.02. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Encompass Capital Advisors LLC purchased a new stake in Delek US during the second quarter valued at about $22,833,000. Point72 Asset Management L.P. acquired a new position in Delek US in the 2nd quarter valued at approximately $19,806,000. SIR Capital Management L.P. raised its position in Delek US by 37.2% in the second quarter. SIR Capital Management L.P. now owns 876,133 shares of the oil and gas company’s stock worth $21,693,000 after purchasing an additional 237,734 shares in the last quarter. Acadian Asset Management LLC grew its stake in Delek US by 627.2% during the first quarter. Acadian Asset Management LLC now owns 266,663 shares of the oil and gas company’s stock worth $8,191,000 after buying an additional 229,992 shares during the last quarter. Finally, Highland Peak Capital LLC acquired a new stake in Delek US during the 2nd quarter valued at $5,241,000. Institutional investors own 97.01% of the company’s stock.

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.