Delek US (NYSE:DK) Upgraded to “Neutral” by JPMorgan Chase & Co.

Delek US (NYSE:DK) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report issued on Tuesday, Briefing.com reports. The brokerage presently has a $26.00 target price on the oil and gas company’s stock, up from their prior target price of $23.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 38.59% from the company’s current price.

A number of other research analysts have also recently commented on DK. Wells Fargo & Company upped their target price on Delek US from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Tuesday, September 3rd. Mizuho cut their target price on Delek US from $31.00 to $27.00 and set an “underperform” rating on the stock in a research note on Thursday, June 20th. TD Cowen cut their target price 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. Piper Sandler cut their target price on Delek US from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. Finally, StockNews.com cut Delek US from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Delek US currently has a consensus rating of “Hold” and a consensus target price of $25.70.

Delek US Price Performance

NYSE:DK opened at $18.76 on Tuesday. Delek US has a 12 month low of $18.75 and a 12 month high of $33.60. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 2.50. The business’s 50-day moving average is $21.67 and its 200 day moving average is $25.57. The company has a market capitalization of $1.21 billion, a P/E ratio of -15.13 and a beta of 1.14.

Delek US (NYSE:DK) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 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 business posted $1.00 earnings per share. The company’s quarterly revenue was down 18.4% compared to the same quarter last year. On average, equities research analysts forecast that Delek US will post -2.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Avigal Soreq acquired 5,651 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of $20.42 per share, with a total value of $115,393.42. Following the completion of the purchase, the chief executive officer now directly owns 188,881 shares in the company, valued at $3,856,950.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Avigal Soreq bought 5,651 shares of the stock in a transaction on Friday, August 9th. The stock was bought at an average price of $20.42 per share, for a total transaction of $115,393.42. Following the completion of the acquisition, the chief executive officer now directly owns 188,881 shares in the company, valued at $3,856,950.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard J. Marcogliese bought 2,750 shares of the stock in a transaction on Wednesday, June 12th. The shares were bought at an average price of $23.99 per share, with a total value of $65,972.50. Following the acquisition, the director now owns 42,863 shares of the company’s stock, valued at $1,028,283.37. The disclosure for this purchase can be found here. 1.80% of the stock is owned by insiders.

Institutional Trading of Delek US

Hedge funds have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. purchased a new stake in Delek US during the first quarter worth $31,000. Quarry LP acquired a new stake in shares of Delek US in the 2nd quarter worth $43,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Delek US in the 1st quarter worth $172,000. TFO Wealth Partners LLC boosted its position in shares of Delek US by 627,400.0% in the 4th quarter. TFO Wealth Partners LLC now owns 6,275 shares of the oil and gas company’s stock worth $162,000 after purchasing an additional 6,274 shares in the last quarter. Finally, Bailard Inc. acquired a new stake in shares of Delek US in the 2nd quarter worth $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.