Delek US (NYSE:DK) PT Lowered to $22.00 at Morgan Stanley

Delek US (NYSE:DK) had its price objective decreased by Morgan Stanley from $24.00 to $22.00 in a report issued on Monday, Benzinga reports. Morgan Stanley currently has an underweight rating on the oil and gas company’s stock.

Other research analysts have also issued reports about the company. Piper Sandler reduced their target price on Delek US from $30.00 to $25.00 and set a neutral rating on the stock in a report on Friday, June 14th. Mizuho upgraded Delek US from an underperform rating to a neutral rating and reduced their target price for the stock from $28.00 to $26.00 in a report on Monday. Wolfe Research initiated coverage on Delek US in a report on Thursday, July 18th. They set an underperform rating and a $19.00 target price on the stock. Scotiabank reduced their target price on Delek US from $27.00 to $25.00 and set a sector perform rating on the stock in a report on Friday, July 12th. Finally, Wells Fargo & Company lifted their price target on Delek US from $20.00 to $21.00 and gave the company an underweight rating in a research note on Tuesday, September 3rd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $25.27.

Delek US Stock Up 0.1 %

NYSE:DK opened at $19.42 on Monday. Delek US has a 12-month low of $18.35 and a 12-month high of $33.60. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 2.50. The firm has a market capitalization of $1.25 billion, a P/E ratio of -15.66 and a beta of 1.14. The stock’s fifty day simple moving average is $21.18 and its 200-day simple moving average is $25.31.

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

Delek US Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were given a $0.255 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.25%. This is an increase from Delek US’s previous quarterly dividend of $0.20. Delek US’s payout ratio is currently -82.26%.

Insider Activity at Delek US

In related news, CEO Avigal Soreq bought 5,651 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $20.42 per share, with a total value of $115,393.42. Following the completion of the transaction, the chief executive officer now owns 188,881 shares in the company, valued at $3,856,950.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is owned by company insiders.

Institutional Trading of Delek US

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. acquired a new position in Delek US during the first quarter worth approximately $31,000. Quarry LP acquired a new position in Delek US during the second quarter worth approximately $43,000. Allspring Global Investments Holdings LLC acquired a new position in Delek US during the first quarter worth approximately $172,000. TFO Wealth Partners LLC increased its position in Delek US by 627,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 6,275 shares of the oil and gas company’s stock worth $162,000 after buying an additional 6,274 shares during the last quarter. Finally, Bailard Inc. acquired a new position in Delek US during the second quarter worth approximately $201,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.