Mizuho Upgrades Delek US (NYSE:DK) to Neutral

Mizuho upgraded shares of Delek US (NYSE:DK) from an underperform rating to a neutral rating in a report published on Monday, MarketBeat reports. They currently have $26.00 price target on the oil and gas company’s stock, down from their previous price target of $28.00.

DK has been the subject of a number of other reports. Wells Fargo & Company upped their price objective on shares of Delek US from $20.00 to $21.00 and gave the stock an underweight rating in a research report on Tuesday, September 3rd. Wolfe Research began coverage on shares of Delek US in a research report on Thursday, July 18th. They set an underperform rating and a $19.00 price objective for the company. TD Cowen lowered their price objective on shares of Delek US from $19.00 to $18.00 and set a sell rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. upgraded shares of Delek US from an underweight rating to a neutral rating and upped their price objective for the stock from $23.00 to $26.00 in a research report on Tuesday, September 10th. Finally, Piper Sandler decreased their price target on shares of Delek US from $30.00 to $25.00 and set a neutral rating for the company in a research report on Friday, June 14th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Delek US currently has a consensus rating of Hold and an average price target of $25.27.

Delek US Stock Performance

Delek US stock opened at $20.02 on Monday. The stock has a market cap of $1.28 billion, a PE ratio of -16.15 and a beta of 1.14. The company has a quick ratio of 0.58, a current ratio of 0.98 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 business’s 50-day moving average price is $21.09 and its two-hundred day moving average price is $25.23.

Delek US (NYSE:DK) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.50. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. The firm’s quarterly revenue was down 18.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.00 EPS. As a group, 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 disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were given a dividend of $0.255 per share. The ex-dividend date was Monday, August 12th. This is a boost from Delek US’s previous quarterly dividend of $0.20. This represents a $1.02 annualized dividend and a dividend yield of 5.09%. Delek US’s dividend payout ratio is -82.26%.

Insider Transactions at Delek US

In other news, CEO Avigal Soreq acquired 5,651 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $20.42 per share, for a total transaction of $115,393.42. Following the completion of the transaction, the chief executive officer now directly owns 188,881 shares in the company, valued at approximately $3,856,950.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DK. Charles Schwab Investment Management Inc. boosted its stake in Delek US by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 620,957 shares of the oil and gas company’s stock worth $16,021,000 after acquiring an additional 13,238 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Delek US during the fourth quarter worth $395,000. Dimensional Fund Advisors LP boosted its stake in Delek US by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,139,059 shares of the oil and gas company’s stock worth $106,790,000 after acquiring an additional 59,537 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Delek US by 10.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 65,508 shares of the oil and gas company’s stock worth $1,690,000 after acquiring an additional 6,398 shares in the last quarter. Finally, Norges Bank bought a new position in Delek US during the fourth quarter worth $16,341,000. 97.01% of the stock is 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.