Delek US (NYSE:DK) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Delek US (NYSE:DK) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

DK has been the topic of several other reports. The Goldman Sachs Group increased their target price on shares of Delek US from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th. Cowen raised shares of Delek US from a “sell” rating to a “hold” rating in a research report on Friday, September 19th. Piper Sandler increased their target price on shares of Delek US from $29.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, September 11th. Wolfe Research raised shares of Delek US from a “peer perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a research report on Wednesday, September 3rd. Finally, Morgan Stanley set a $34.00 target price on shares of Delek US and gave the stock an “equal weight” rating in a research report on Friday. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Delek US currently has an average rating of “Hold” and an average target price of $27.69.

Delek US Trading Down 0.1%

NYSE DK opened at $32.27 on Friday. Delek US has a 1-year low of $11.02 and a 1-year high of $34.50. The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 10.48. The company has a market capitalization of $1.94 billion, a PE ratio of -2.63 and a beta of 1.01. The firm’s fifty day simple moving average is $27.13 and its 200-day simple moving average is $21.28.

Delek US (NYSE:DK) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.36. Delek US had a negative net margin of 7.11% and a negative return on equity of 79.27%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the prior year, the business posted ($0.92) earnings per share. Delek US’s revenue for the quarter was down 16.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Delek US will post -5.5 earnings per share for the current fiscal year.

Delek US Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were given a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, August 11th. Delek US’s dividend payout ratio (DPR) is currently -8.30%.

Insider Activity

In other news, CFO Robert G. Wright sold 7,135 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $29.24, for a total value of $208,627.40. Following the sale, the chief financial officer directly owned 48,294 shares of the company’s stock, valued at approximately $1,412,116.56. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Delek US

Several hedge funds and other institutional investors have recently made changes to their positions in DK. Orion Porfolio Solutions LLC grew its position in Delek US by 2.2% during the second quarter. Orion Porfolio Solutions LLC now owns 23,244 shares of the oil and gas company’s stock worth $492,000 after buying an additional 507 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Delek US during the second quarter worth about $1,066,000. CANADA LIFE ASSURANCE Co grew its position in Delek US by 8.8% during the second quarter. CANADA LIFE ASSURANCE Co now owns 11,782 shares of the oil and gas company’s stock worth $250,000 after buying an additional 955 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Delek US by 216.8% during the second quarter. Tower Research Capital LLC TRC now owns 13,561 shares of the oil and gas company’s stock worth $287,000 after buying an additional 9,280 shares in the last quarter. Finally, Ion Asset Management Ltd. grew its position in Delek US by 1.8% during the second quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company’s stock worth $79,296,000 after buying an additional 67,490 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

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.