Delek US (NYSE:DK) PT Lowered to $22.00 at Scotiabank

Delek US (NYSE:DK) had its target price cut by Scotiabank from $25.00 to $22.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a sector perform rating on the oil and gas company’s stock.

Several other equities research analysts have also recently weighed in on DK. StockNews.com cut shares of Delek US from a hold rating to a sell rating in a research report on Saturday, September 21st. Mizuho upgraded shares of Delek US from an underperform rating to a neutral rating and reduced their price target for the stock from $28.00 to $26.00 in a research report on Monday, September 16th. Piper Sandler reduced their price target on shares of Delek US from $25.00 to $19.00 and set a neutral rating on the stock in a research report on Friday, September 20th. Morgan Stanley reduced their price target on shares of Delek US from $24.00 to $22.00 and set an underweight rating on the stock in a research report on Monday, September 16th. Finally, Wells Fargo & Company reduced their price target on shares of Delek US from $21.00 to $18.00 and set an underweight rating on the stock in a research report on Wednesday. Five research analysts have rated the stock with a sell rating, seven have issued 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 $23.55.

Delek US Price Performance

Shares of DK stock traded up $0.41 during mid-day trading on Thursday, hitting $19.51. The company had a trading volume of 160,784 shares, compared to its average volume of 1,042,542. Delek US has a 52-week low of $18.25 and a 52-week high of $33.60. The stock’s 50 day moving average price is $20.03 and its 200-day moving average price is $24.32. 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 company has a market capitalization of $1.26 billion, a P/E ratio of -11.62 and a beta of 1.13.

Delek US (NYSE:DK) last released its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($1.42) by $0.50. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The company’s quarterly revenue was down 18.4% compared to the same quarter last year. Equities research analysts forecast that Delek US will post -3.79 earnings per share for the current year.

Delek US Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were issued a $0.255 dividend. The ex-dividend date was Monday, August 12th. This is a boost from Delek US’s previous quarterly dividend of $0.20. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.23%. Delek US’s dividend payout ratio is presently -60.36%.

Insider Transactions at Delek US

In related news, CEO Avigal Soreq purchased 5,651 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of $20.42 per share, for a total transaction of $115,393.42. Following the completion of the acquisition, the chief executive officer now owns 188,881 shares in the company, valued at approximately $3,856,950.02. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DK. Quarry LP bought a new position in shares of Delek US in the second quarter worth about $43,000. Allspring Global Investments Holdings LLC purchased a new stake in Delek US in the first quarter worth about $172,000. Bailard Inc. purchased a new stake in Delek US in the second quarter worth about $201,000. Chesapeake Capital Corp IL purchased a new stake in Delek US in the second quarter worth about $223,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Delek US in the second quarter worth about $223,000. 97.01% of the stock is currently owned by institutional investors.

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.