Delek US (NYSE:DK) Given New $16.00 Price Target at Wells Fargo & Company

Delek US (NYSE:DK) had its price target reduced by Wells Fargo & Company from $18.00 to $16.00 in a report published on Monday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the oil and gas company’s stock.

Other research analysts have also issued reports about the stock. Mizuho raised shares of Delek US from an “underperform” rating to a “neutral” rating and decreased their price target for the company from $28.00 to $26.00 in a research note on Monday, September 16th. Morgan Stanley decreased their target price on Delek US from $24.00 to $22.00 and set an “underweight” rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. lowered their price target on Delek US from $26.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. StockNews.com downgraded Delek US from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Finally, Piper Sandler lowered their target price on shares of Delek US from $25.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Six research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, Delek US has a consensus rating of “Hold” and an average target price of $20.80.

Delek US Price Performance

NYSE:DK opened at $18.33 on Monday. The company has a 50 day moving average price of $18.15 and a 200-day moving average price of $20.81. Delek US has a 1-year low of $15.36 and a 1-year high of $33.60. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -3.77 and a beta of 1.22. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.04 and a quick ratio of 0.67.

Delek US (NYSE:DK) last posted its earnings results on Wednesday, November 6th. The oil and gas company reported ($1.45) EPS for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.26. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The company’s quarterly revenue was down 34.3% on a year-over-year basis. During the same period last year, the firm earned $2.02 EPS. Equities research analysts forecast that Delek US will post -4.4 EPS for the current year.

Delek US Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Tuesday, November 12th were issued a $0.255 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $1.02 annualized dividend and a yield of 5.57%. Delek US’s dividend payout ratio (DPR) is presently -20.99%.

Hedge Funds Weigh In On Delek US

Several hedge funds have recently bought and sold shares of the company. Rubric Capital Management LP acquired a new stake in Delek US during the 3rd quarter worth approximately $37,500,000. Philosophy Capital Management LLC purchased a new stake in shares of Delek US during the third quarter worth $21,471,000. Encompass Capital Advisors LLC acquired a new stake in shares of Delek US in the second quarter valued at $22,833,000. Point72 Asset Management L.P. purchased a new position in Delek US in the second quarter valued at $19,806,000. Finally, International Assets Investment Management LLC grew its stake in Delek US by 1,753.2% during the 3rd quarter. International Assets Investment Management LLC now owns 648,507 shares of the oil and gas company’s stock worth $12,160,000 after purchasing an additional 613,514 shares in the last quarter. Institutional investors and hedge funds 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.