Delek US (NYSE:DK) Price Target Lowered to $14.00 at Scotiabank

Delek US (NYSE:DK) had its target price reduced by Scotiabank from $24.00 to $14.00 in a report issued on Friday morning,Benzinga reports. They currently have a sector perform rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company upped their price target on shares of Delek US from $15.00 to $16.00 and gave the stock an “underweight” rating in a research report on Friday, March 21st. UBS Group lowered their target price on Delek US from $21.00 to $13.25 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Raymond James dropped their target price on Delek US from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Piper Sandler reduced their price target on Delek US from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Finally, Morgan Stanley dropped their price objective on Delek US from $19.00 to $18.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Five analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $17.93.

Delek US Trading Up 3.3 %

DK opened at $12.48 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.04 and a debt-to-equity ratio of 3.18. The stock’s fifty day moving average is $15.72 and its two-hundred day moving average is $17.32. The company has a market capitalization of $779.97 million, a P/E ratio of -2.57 and a beta of 1.04. Delek US has a 52 week low of $11.03 and a 52 week high of $31.55.

Delek US (NYSE:DK) last announced its quarterly earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the business posted ($1.46) EPS. The business’s quarterly revenue was down 39.8% on a year-over-year basis. Analysts forecast that Delek US will post -5.5 earnings per share for the current year.

Delek US Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.02 annualized dividend and a dividend yield of 8.18%. Delek US’s dividend payout ratio (DPR) is currently -11.54%.

Insider Buying and Selling

In other news, CFO Mark Wayne Hobbs bought 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $13.70 per share, with a total value of $38,360.00. Following the transaction, the chief financial officer now directly owns 49,138 shares in the company, valued at approximately $673,190.60. The trade was a 6.04 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders purchased 5,055 shares of company stock worth $70,787 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Delek US

Large investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its holdings in shares of Delek US by 728.3% during the fourth 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 during the period. GAMMA Investing LLC raised its position in Delek US by 907.0% during the 1st quarter. GAMMA Investing LLC now owns 4,159 shares of the oil and gas company’s stock worth $63,000 after buying an additional 3,746 shares during the last quarter. KBC Group NV lifted its stake in Delek US by 66.3% during the 4th quarter. KBC Group NV now owns 3,859 shares of the oil and gas company’s stock valued at $71,000 after acquiring an additional 1,538 shares during the period. ARS Investment Partners LLC purchased a new stake in shares of Delek US in the 4th quarter valued at $185,000. Finally, Abel Hall LLC acquired a new stake in shares of Delek US in the fourth quarter worth $196,000. 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.