Delek US (NYSE:DK) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of Delek US (NYSE:DK) from a hold rating to a sell rating in a report published on Saturday morning.

Other equities analysts have also issued research reports about the company. Mizuho upgraded Delek US from an underperform rating to a neutral rating and cut their target price for the company from $28.00 to $26.00 in a research note on Monday, September 16th. Morgan Stanley cut their target price on Delek US from $24.00 to $22.00 and set an underweight rating on the stock in a research note on Monday, September 16th. Scotiabank cut their target price on Delek US from $27.00 to $25.00 and set a sector perform rating on the stock in a research note on Friday, July 12th. TD Cowen dropped their price target on Delek US from $19.00 to $18.00 and set a sell rating on the stock in a research note on Thursday, August 8th. Finally, Wells Fargo & Company boosted their price target on Delek US from $20.00 to $21.00 and gave the stock an underweight rating in a research note on Tuesday, September 3rd. Five equities 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 has an average rating of Hold and a consensus target price of $24.73.

Delek US Stock Performance

Shares of Delek US stock opened at $19.08 on Friday. The firm has a market cap of $1.22 billion, a P/E ratio of -15.39 and a beta of 1.14. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 2.50. Delek US has a 12 month low of $18.35 and a 12 month high of $33.60. The stock’s fifty day moving average price is $20.84 and its 200-day moving average price is $25.06.

Delek US (NYSE:DK) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.50. Delek US had a negative return on equity of 4.53% and a negative net margin of 0.69%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The firm’s quarterly revenue was down 18.4% compared to the same quarter last year. On average, equities research analysts expect that Delek US will post -2.87 earnings per share for the current fiscal year.

Delek US Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were issued a dividend of $0.255 per share. This is an increase from Delek US’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.35%. Delek US’s payout ratio is -82.26%.

Insider Buying and Selling

In other news, CEO Avigal Soreq bought 5,651 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $20.42 per share, with a total value of $115,393.42. Following the completion of the acquisition, the chief executive officer now directly owns 188,881 shares of the company’s stock, valued at approximately $3,856,950.02. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of DK. Quarry LP acquired a new position in Delek US in the second quarter valued at approximately $43,000. TFO Wealth Partners LLC lifted its holdings in Delek US by 627,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 6,275 shares of the oil and gas company’s stock valued at $162,000 after acquiring an additional 6,274 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Delek US during the 1st quarter worth approximately $172,000. Bailard Inc. acquired a new position in shares of Delek US during the 2nd quarter worth approximately $201,000. Finally, Chesapeake Capital Corp IL acquired a new position in shares of Delek US during the 2nd quarter worth approximately $223,000. 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.