Delek US (NYSE:DK) Price Target Cut to $18.00 by Analysts at TD Cowen

Delek US (NYSE:DK) had its price objective decreased by TD Cowen from $19.00 to $18.00 in a research note published on Thursday, MarketBeat.com reports. TD Cowen currently has a sell rating on the oil and gas company’s stock.

A number of other brokerages have also recently commented on DK. Wolfe Research assumed coverage on Delek US in a research report on Thursday, July 18th. They issued an underperform rating and a $19.00 price target on the stock. JPMorgan Chase & Co. dropped their target price on Delek US from $25.00 to $23.00 and set an underweight rating on the stock in a report on Tuesday, July 2nd. Piper Sandler reduced their price target on Delek US from $30.00 to $25.00 and set a neutral rating for the company in a report on Friday, June 14th. Wells Fargo & Company dropped their price target on shares of Delek US from $25.00 to $20.00 and set an underweight rating on the stock in a research note on Tuesday, July 16th. Finally, Mizuho cut their target price on Delek US from $31.00 to $27.00 and set an underperform rating on the stock in a research note on Thursday, June 20th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $25.30.

Delek US Price Performance

Shares of DK stock opened at $20.68 on Thursday. The business’s fifty day moving average is $23.38 and its 200 day moving average is $26.60. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 2.40. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -16.68 and a beta of 1.19. Delek US has a twelve month low of $19.33 and a twelve month high of $33.60.

Delek US (NYSE:DK) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $0.50. Delek US had a negative net margin of 0.48% and a positive return on equity of 7.37%. The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same period last year, the business earned $1.00 EPS. Delek US’s quarterly revenue was down 18.4% compared to the same quarter last year. Research analysts expect that Delek US will post -2.83 EPS for the current fiscal year.

Delek US Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Monday, August 12th will be issued a $0.255 dividend. This is an increase from Delek US’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, August 12th. This represents a $1.02 dividend on an annualized basis and a yield of 4.93%. Delek US’s dividend payout ratio is currently -82.26%.

Insiders Place Their Bets

In other Delek US news, Director Richard J. Marcogliese acquired 2,750 shares of the stock in a transaction dated Wednesday, June 12th. The shares were purchased at an average price of $23.99 per share, for a total transaction of $65,972.50. Following the purchase, the director now directly owns 42,863 shares of the company’s stock, valued at $1,028,283.37. The acquisition was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have sold 2,104 shares of company stock valued at $50,348. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Delek US

Hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC lifted its position in Delek US by 2,421.9% during the fourth quarter. International Assets Investment Management LLC now owns 937,785 shares of the oil and gas company’s stock valued at $24,195,000 after purchasing an additional 900,600 shares in the last quarter. Strs Ohio purchased a new stake in Delek US in the 4th quarter worth approximately $95,000. Mackenzie Financial Corp raised its stake in Delek US by 90.2% during the 4th quarter. Mackenzie Financial Corp now owns 19,352 shares of the oil and gas company’s stock worth $499,000 after acquiring an additional 9,179 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Delek US by 4.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,817 shares of the oil and gas company’s stock worth $382,000 after acquiring an additional 688 shares during the period. Finally, River Road Asset Management LLC boosted its position in shares of Delek US by 510.1% in the fourth quarter. River Road Asset Management LLC now owns 3,747,111 shares of the oil and gas company’s stock worth $96,675,000 after purchasing an additional 3,132,971 shares during the period. 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.