Delek US (NYSE:DK) PT Lowered to $19.00

Delek US (NYSE:DK) had its target price reduced by JPMorgan Chase & Co. from $26.00 to $19.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 6.73% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Scotiabank reduced their price objective on shares of Delek US from $27.00 to $25.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Wells Fargo & Company lifted their price target on shares of Delek US from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Tuesday, September 3rd. Piper Sandler cut their price objective on Delek US from $25.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. StockNews.com lowered Delek US from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Finally, Wolfe Research began coverage on Delek US in a research note on Thursday, July 18th. They issued an “underperform” rating and a $19.00 price objective on the stock. 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 MarketBeat.com, Delek US has an average rating of “Hold” and an average target price of $24.09.

Delek US Price Performance

NYSE DK opened at $20.37 on Wednesday. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.98 and a quick ratio of 0.58. Delek US has a 1-year low of $18.25 and a 1-year high of $33.60. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -16.43 and a beta of 1.14. The business’s fifty day moving average price is $20.42 and its 200-day moving average price is $24.69.

Delek US (NYSE:DK) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the previous year, the company posted $1.00 EPS. The business’s quarterly revenue was down 18.4% compared to the same quarter last year. On average, equities analysts predict that Delek US will post -3.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Avigal Soreq bought 5,651 shares of the stock in a transaction dated Friday, August 9th. The stock was purchased at an average price of $20.42 per share, for a total transaction of $115,393.42. Following the acquisition, the chief executive officer now owns 188,881 shares of the company’s stock, valued at $3,856,950.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.80% of the stock is owned by insiders.

Institutional Trading of Delek US

A number of large investors have recently made changes to their positions in the stock. Encompass Capital Advisors LLC purchased a new position in shares of Delek US in the 2nd quarter valued at $22,833,000. SIR Capital Management L.P. raised its stake in shares of Delek US by 37.2% during the 2nd quarter. SIR Capital Management L.P. now owns 876,133 shares of the oil and gas company’s stock worth $21,693,000 after acquiring an additional 237,734 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Delek US in the second quarter valued at approximately $19,806,000. Bridgeway Capital Management LLC increased its position in shares of Delek US by 3.1% during the fourth quarter. Bridgeway Capital Management LLC now owns 777,576 shares of the oil and gas company’s stock worth $20,061,000 after purchasing an additional 23,509 shares in the last quarter. Finally, Easterly Investment Partners LLC lifted its holdings in shares of Delek US by 26.7% during the 2nd quarter. Easterly Investment Partners LLC now owns 457,536 shares of the oil and gas company’s stock valued at $11,329,000 after purchasing an additional 96,531 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

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.