Delek US (NYSE:DK) Reaches New 52-Week Low Following Analyst Downgrade

Delek US Holdings, Inc. (NYSE:DK) hit a new 52-week low during mid-day trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $17.00 to $15.00. Wells Fargo & Company currently has an underweight rating on the stock. Delek US traded as low as $15.09 and last traded at $15.14, with a volume of 3000718 shares. The stock had previously closed at $16.40.

Several other research firms have also recently commented on DK. JPMorgan Chase & Co. raised their target price on shares of Delek US from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Wolfe Research upgraded shares of Delek US from an “underperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Mizuho dropped their target price on Delek US from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Five investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.90.

Institutional Investors Weigh In On Delek US

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sterling Capital Management LLC increased its stake in Delek US by 728.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,491 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 1,311 shares in the last quarter. KBC Group NV boosted its holdings in shares of Delek US by 66.3% in the fourth quarter. KBC Group NV now owns 3,859 shares of the oil and gas company’s stock worth $71,000 after buying an additional 1,538 shares during the period. Farther Finance Advisors LLC increased its position in shares of Delek US by 24.2% in the third quarter. Farther Finance Advisors LLC now owns 7,733 shares of the oil and gas company’s stock worth $145,000 after acquiring an additional 1,508 shares in the last quarter. ARS Investment Partners LLC acquired a new stake in shares of Delek US during the fourth quarter valued at approximately $185,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Delek US during the third quarter valued at approximately $193,000. 97.01% of the stock is owned by institutional investors and hedge funds.

Delek US Trading Down 7.7 %

The company’s 50-day moving average is $18.16 and its 200 day moving average is $18.59. The company has a current ratio of 1.04, a quick ratio of 0.67 and a debt-to-equity ratio of 3.18. The firm has a market cap of $956.77 million, a PE ratio of -3.12 and a beta of 1.20.

Delek US (NYSE:DK) last released its earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.53) by ($1.01). Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the previous year, the company earned ($1.46) EPS. Delek US’s revenue for the quarter was down 39.8% on a year-over-year basis. As a group, sell-side analysts predict that Delek US Holdings, Inc. will post -5.5 EPS for the current year.

Delek US Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, March 3rd will be issued a $0.255 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.02 dividend on an annualized basis and a yield of 6.74%. Delek US’s dividend payout ratio is currently -20.99%.

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.