Wolfe Research Begins Coverage on Delek US (NYSE:DK)

Wolfe Research started coverage on shares of Delek US (NYSE:DK) in a research report sent to investors on Thursday morning, Marketbeat reports. The firm issued an underperform rating and a $19.00 target price on the oil and gas company’s stock.

DK has been the subject of several other reports. Scotiabank cut their price target on shares of Delek US from $27.00 to $25.00 and set a sector perform rating for the company in a report on Friday, July 12th. Mizuho lowered their price target on shares of Delek US from $31.00 to $27.00 and set an underperform rating for the company in a report on Thursday, June 20th. Wells Fargo & Company dropped their target price on Delek US from $25.00 to $20.00 and set an underweight rating for the company in a research note on Tuesday. Piper Sandler cut their price target on shares of Delek US from $30.00 to $25.00 and set a neutral rating on the stock in a research note on Friday, June 14th. Finally, JPMorgan Chase & Co. decreased their target price on Delek US from $25.00 to $23.00 and set an underweight rating for the company in a report on Tuesday, July 2nd. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Delek US has an average rating of Hold and a consensus price target of $25.50.

Delek US Stock Down 4.0 %

Shares of Delek US stock opened at $21.62 on Thursday. Delek US has a 52-week low of $21.59 and a 52-week high of $33.60. The company has a 50 day moving average of $25.07 and a 200 day moving average of $26.94. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $1.39 billion, a P/E ratio of -17.44 and a beta of 1.19.

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 for the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the previous year, the firm earned $1.37 earnings per share. The business’s revenue was down 17.8% compared to the same quarter last year. As a group, research analysts forecast that Delek US will post -0.51 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. Shareholders of record on Friday, May 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend was Thursday, May 16th. This is an increase from Delek US’s previous quarterly dividend of $0.25. Delek US’s dividend payout ratio (DPR) is currently -80.65%.

Insider Activity

In related news, Director Richard J. Marcogliese bought 2,750 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were purchased at an average cost of $23.99 per share, with a total value of $65,972.50. Following the completion of the transaction, the director now directly owns 42,863 shares of the company’s stock, valued at $1,028,283.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders sold 2,854 shares of company stock worth $71,078. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Delek US

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in shares of 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 valued at $106,790,000 after purchasing an additional 59,537 shares during the period. River Road Asset Management LLC raised its stake in Delek US by 510.1% during the 4th quarter. River Road Asset Management LLC now owns 3,747,111 shares of the oil and gas company’s stock valued at $96,675,000 after purchasing an additional 3,132,971 shares during the period. International Assets Investment Management LLC lifted its stake in Delek US by 2,421.9% in the 4th 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 in the last quarter. Bridgeway Capital Management LLC boosted its holdings 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 during the period. Finally, Norges Bank acquired a new stake in shares of Delek US during the 4th quarter valued at $16,341,000. Institutional investors own 97.01% of the company’s stock.

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.