Piper Sandler Cuts Delek US (NYSE:DK) Price Target to $17.00

Delek US (NYSE:DK) had its target price reduced by Piper Sandler from $18.00 to $17.00 in a report released on Friday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the oil and gas company’s stock.

A number of other research firms have also weighed in on DK. Wolfe Research raised shares of Delek US from an “underperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Wells Fargo & Company dropped their price target on shares of Delek US from $17.00 to $15.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price target on shares of Delek US from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Mizuho dropped their price target on shares of Delek US from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Five investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.70.

Delek US Stock Down 3.5 %

Shares of NYSE DK opened at $14.26 on Friday. The stock has a market capitalization of $891.25 million, a P/E ratio of -2.93 and a beta of 1.14. The company has a 50-day moving average price of $18.00 and a 200-day moving average price of $18.29. Delek US has a 1 year low of $14.04 and a 1 year high of $33.60. 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 issued its quarterly earnings data 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). The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.58 billion. Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The firm’s quarterly revenue was down 39.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.46) earnings per share. On average, equities research analysts forecast that Delek US will post -5.5 EPS for the current fiscal year.

Delek US Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, March 3rd will be given a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 7.15%. The ex-dividend date of this dividend is Monday, March 3rd. Delek US’s dividend payout ratio is -11.54%.

Institutional Trading of Delek US

Several hedge funds have recently added to or reduced their stakes in DK. US Bancorp DE raised its position in Delek US by 691.5% in the third quarter. US Bancorp DE now owns 16,195 shares of the oil and gas company’s stock worth $304,000 after acquiring an additional 14,149 shares during the period. Farther Finance Advisors LLC increased its stake 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 purchasing an additional 1,508 shares in the last quarter. Easterly Investment Partners LLC increased its stake in shares of Delek US by 62.6% in the third quarter. Easterly Investment Partners LLC now owns 744,039 shares of the oil and gas company’s stock worth $13,951,000 after purchasing an additional 286,503 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Delek US by 17.2% in the third quarter. Victory Capital Management Inc. now owns 3,279,590 shares of the oil and gas company’s stock worth $61,492,000 after purchasing an additional 480,614 shares in the last quarter. Finally, MQS Management LLC purchased a new position in shares of Delek US in the third quarter worth about $201,000. Institutional investors 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.