Delek US (NYSE:DK) Given New $23.00 Price Target at JPMorgan Chase & Co.

Delek US (NYSE:DK) had its price objective reduced by JPMorgan Chase & Co. from $25.00 to $23.00 in a research note issued to investors on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the oil and gas company’s stock.

DK has been the subject of several other research reports. Bank of America lifted their price objective on Delek US from $30.00 to $32.00 and gave the stock a neutral rating in a report on Friday, March 15th. Mizuho lowered their target price on Delek US from $31.00 to $27.00 and set an underperform rating on the stock in a research report on Thursday, June 20th. Wells Fargo & Company lowered their target price on Delek US from $26.00 to $25.00 and set an underweight rating on the stock in a research report on Thursday, June 6th. TD Cowen downgraded Delek US from a hold rating to a sell rating and lowered their target price for the company from $25.00 to $20.00 in a research report on Monday, June 10th. Finally, Piper Sandler lowered their target price on Delek US from $30.00 to $25.00 and set a neutral rating on the stock in a research report on Friday, June 14th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Delek US presently has an average rating of Hold and a consensus target price of $26.80.

Delek US Stock Down 4.1 %

Delek US stock opened at $23.58 on Tuesday. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -19.02 and a beta of 1.19. The stock has a fifty day simple moving average of $26.08 and a two-hundred day simple moving average of $27.21. Delek US has a 12 month low of $21.68 and a 12 month high of $33.60. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 2.40.

Delek US (NYSE:DK) last posted its earnings results on Tuesday, May 7th. The oil and gas company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.15. Delek US had a positive return on equity of 7.37% and a negative net margin of 0.48%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the company earned $1.37 EPS. The company’s quarterly revenue was down 17.8% compared to the same quarter last year. Equities analysts predict that Delek US will post 0.5 EPS for the current fiscal year.

Delek US Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 17th were given a $0.25 dividend. This is an increase from Delek US’s previous quarterly dividend of $0.25. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date was Thursday, May 16th. Delek US’s payout ratio is currently -80.65%.

Insider Buying and Selling

In other news, Director Richard J. Marcogliese bought 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were bought at an average cost of $23.99 per share, for a total transaction of $65,972.50. Following the completion of the transaction, the director now owns 42,863 shares of the company’s stock, valued at $1,028,283.37. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 2,854 shares of company stock worth $78,241. Corporate insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Delek US

Several large investors have recently added to or reduced their stakes in DK. River Road Asset Management LLC increased its stake in Delek US by 510.1% during the fourth quarter. River Road Asset Management LLC now owns 3,747,111 shares of the oil and gas company’s stock worth $96,675,000 after acquiring an additional 3,132,971 shares during the last quarter. International Assets Investment Management LLC increased its stake in Delek US by 2,421.9% during the fourth quarter. International Assets Investment Management LLC now owns 937,785 shares of the oil and gas company’s stock worth $24,195,000 after acquiring an additional 900,600 shares during the last quarter. Norges Bank bought a new stake in Delek US during the fourth quarter worth approximately $16,341,000. Raymond James & Associates bought a new stake in Delek US during the fourth quarter worth approximately $13,295,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Delek US during the third quarter worth approximately $7,464,000. 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.