Delek US (NYSE:DK) Price Target Raised to $22.00

Delek US (NYSE:DK) had its price objective boosted by JPMorgan Chase & Co. from $21.00 to $22.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

A number of other brokerages have also issued reports on DK. StockNews.com lowered shares of Delek US from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Piper Sandler lowered their target price on shares of Delek US from $25.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Scotiabank lowered their target price on shares of Delek US from $25.00 to $22.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Mizuho raised shares of Delek US from an “underperform” rating to a “neutral” rating and lowered their target price for the company from $28.00 to $26.00 in a research note on Monday, September 16th. Finally, Wells Fargo & Company lowered their target price on shares of Delek US from $18.00 to $16.00 and set an “underweight” rating for the company in a research note on Monday. Six analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.10.

Delek US Trading Down 4.2 %

DK stock opened at $17.56 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 1.04 and a debt-to-equity ratio of 3.18. Delek US has a twelve month low of $15.36 and a twelve month high of $33.60. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -3.63 and a beta of 1.22. The firm’s fifty day simple moving average is $18.13 and its two-hundred day simple moving average is $20.73.

Delek US (NYSE:DK) last posted its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($1.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.26. Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the previous year, the business posted $2.02 earnings per share. The business’s revenue was down 34.3% compared to the same quarter last year. As a group, analysts anticipate that Delek US will post -4.4 earnings per share for the current year.

Delek US Announces Dividend

The company also recently disclosed 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 of this dividend was Tuesday, November 12th. This represents a $1.02 annualized dividend and a dividend yield of 5.81%. Delek US’s payout ratio is currently -20.99%.

Hedge Funds Weigh In On Delek US

Several institutional investors and hedge funds have recently added to or reduced their stakes in DK. SG Americas Securities LLC grew its stake in Delek US by 419.4% in the second quarter. SG Americas Securities LLC now owns 80,297 shares of the oil and gas company’s stock valued at $1,988,000 after purchasing an additional 64,837 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in Delek US by 16.7% in the second quarter. Wedge Capital Management L L P NC now owns 27,944 shares of the oil and gas company’s stock valued at $692,000 after purchasing an additional 4,005 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in Delek US by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 32,845 shares of the oil and gas company’s stock valued at $813,000 after purchasing an additional 580 shares during the last quarter. Easterly Investment Partners LLC boosted its holdings in Delek US by 26.7% in the second quarter. Easterly Investment Partners LLC now owns 457,536 shares of the oil and gas company’s stock worth $11,329,000 after acquiring an additional 96,531 shares in the last quarter. Finally, Bailard Inc. acquired a new stake in Delek US in the second quarter worth about $201,000. Hedge funds and other 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.