Scotiabank Trims Delek US (NYSE:DK) Target Price to $22.00

Delek US (NYSE:DK) had its price target trimmed by Scotiabank from $25.00 to $22.00 in a research note published on Thursday, Benzinga reports. The firm currently has a sector perform rating on the oil and gas company’s stock.

Other analysts have also recently issued research reports about the company. Morgan Stanley cut their target price on Delek US from $24.00 to $22.00 and set an underweight rating for the company in a research report on Monday, September 16th. Mizuho raised Delek US from an underperform rating to a neutral rating and dropped their price target for the company from $28.00 to $26.00 in a research note on Monday, September 16th. Piper Sandler dropped their price target on Delek US from $25.00 to $19.00 and set a neutral rating for the company in a research note 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, Wells Fargo & Company dropped their price target on Delek US from $21.00 to $18.00 and set an underweight rating for the company in a research note on Wednesday. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Delek US presently has an average rating of Hold and a consensus target price of $23.55.

Delek US Stock Performance

Shares of DK opened at $19.50 on Thursday. 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 business has a 50-day simple moving average of $19.99 and a two-hundred day simple moving average of $24.20. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -15.73 and a beta of 1.13. Delek US has a 52 week low of $18.25 and a 52 week high of $33.60.

Delek US (NYSE:DK) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) 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 return on equity of 4.53% and a negative net margin of 0.69%. The business’s quarterly revenue was down 18.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.00 earnings per share. On average, analysts expect that Delek US will post -3.79 EPS for the current year.

Delek US Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 5.23%. This is a positive change from Delek US’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, August 12th. Delek US’s dividend payout ratio (DPR) is presently -82.26%.

Insider Activity

In related news, CEO Avigal Soreq acquired 5,651 shares of the stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $20.42 per share, with a total value of $115,393.42. Following the purchase, the chief executive officer now directly owns 188,881 shares of the company’s stock, valued at approximately $3,856,950.02. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Delek US

Several hedge funds and other institutional investors have recently modified their holdings of DK. Encompass Capital Advisors LLC purchased a new stake in shares of Delek US in the second quarter worth approximately $22,833,000. Point72 Asset Management L.P. purchased a new position in Delek US during the 2nd quarter worth $19,806,000. SIR Capital Management L.P. increased its holdings in 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 purchasing an additional 237,734 shares during the period. Acadian Asset Management LLC increased its holdings in Delek US by 627.2% during the 1st quarter. Acadian Asset Management LLC now owns 266,663 shares of the oil and gas company’s stock worth $8,191,000 after purchasing an additional 229,992 shares during the period. Finally, Highland Peak Capital LLC purchased a new position in Delek US during the 2nd quarter worth $5,241,000. 97.01% of the stock is currently owned by hedge funds and other 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.