Delek US (NYSE:DK) Coverage Initiated at Bank of America

Research analysts at Bank of America assumed coverage on shares of Delek US (NYSE:DK) in a research note issued to investors on Thursday, StockNewsAPI reports. The firm set an “underperform” rating and a $15.00 price target on the oil and gas company’s stock. Bank of America‘s price objective suggests a potential downside of 14.19% from the company’s previous close.

Several other research firms have also issued reports on DK. Wells Fargo & Company reduced their target price on Delek US from $21.00 to $18.00 and set an “underweight” rating on the stock in a report on Wednesday, October 9th. StockNews.com lowered shares of Delek US from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. Mizuho raised shares of Delek US from an “underperform” rating to a “neutral” rating and cut their price target for the stock from $28.00 to $26.00 in a report on Monday, September 16th. JPMorgan Chase & Co. reduced their price target on shares of Delek US from $26.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Finally, TD Cowen cut their target price on Delek US from $19.00 to $18.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Six equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Delek US currently has an average rating of “Hold” and an average target price of $22.00.

Delek US Stock Performance

Shares of NYSE DK opened at $17.48 on Thursday. 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 firm has a market cap of $1.12 billion, a price-to-earnings ratio of -14.10 and a beta of 1.13. The stock’s fifty day moving average price is $19.83 and its two-hundred day moving average price is $23.93. Delek US has a one year low of $17.18 and a one year high of $33.60.

Delek US (NYSE:DK) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) EPS for the quarter, beating 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 business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the company posted $1.00 earnings per share. Delek US’s revenue was down 18.4% compared to the same quarter last year. On average, equities analysts forecast that Delek US will post -3.79 EPS for the current year.

Insider Activity

In other Delek US news, CEO Avigal Soreq bought 5,651 shares of Delek US stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $20.42 per share, with a total value of $115,393.42. Following the acquisition, the chief executive officer now directly owns 188,881 shares of the company’s stock, valued at $3,856,950.02. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Trading of Delek US

Several institutional investors have recently added to or reduced their stakes in DK. Quarry LP bought a new stake in Delek US during the second quarter valued at $43,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Delek US during the 1st quarter valued at about $172,000. Bailard Inc. acquired a new stake in Delek US during the second quarter worth approximately $201,000. Chesapeake Capital Corp IL bought a new stake in Delek US in the second quarter worth approximately $223,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Delek US in the second quarter valued at approximately $223,000. 97.01% of the stock is currently owned by institutional investors.

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.