Delek US (NYSE:DK) Upgraded by JPMorgan Chase & Co. to “Neutral”

JPMorgan Chase & Co. upgraded shares of Delek US (NYSE:DK) from an underweight rating to a neutral rating in a research note released on Tuesday morning, MarketBeat Ratings reports. They currently have $26.00 target price on the oil and gas company’s stock, up from their previous target price of $23.00.

Several other research firms have also recently issued reports on DK. TD Cowen cut their target price on Delek US from $19.00 to $18.00 and set a sell rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company lifted their price objective on Delek US from $20.00 to $21.00 and gave the stock an underweight rating in a research report on Tuesday, September 3rd. Wolfe Research assumed coverage on Delek US in a report on Thursday, July 18th. They set an underperform rating and a $19.00 target price for the company. Mizuho cut their price target on shares of Delek US from $31.00 to $27.00 and set an underperform rating on the stock in a report on Thursday, June 20th. Finally, StockNews.com downgraded shares of Delek US from a hold rating to a sell rating in a research report on Thursday, September 5th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $25.70.

Delek US Stock Performance

Shares of NYSE DK opened at $19.41 on Tuesday. The stock’s 50-day moving average is $21.25 and its 200 day moving average is $25.35. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -15.65 and a beta of 1.14. Delek US has a 1-year low of $18.35 and a 1-year high of $33.60. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 2.50.

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 for the quarter, topping the consensus estimate of ($1.42) by $0.50. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.31 billion. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. The firm’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 earnings per share. On average, sell-side analysts anticipate that Delek US will post -2.87 EPS for the current fiscal 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 given a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.02 annualized dividend and a dividend yield of 5.26%. This is a boost from Delek US’s previous quarterly dividend of $0.20. Delek US’s dividend payout ratio (DPR) is presently -82.26%.

Insider Activity at Delek US

In other news, CEO Avigal Soreq purchased 5,651 shares of the business’s stock in a transaction on Friday, August 9th. The stock was acquired 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 directly owns 188,881 shares of the company’s stock, valued at approximately $3,856,950.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Delek US

A number of large investors have recently made changes to their positions in DK. Newbridge Financial Services Group Inc. bought a new position in Delek US in the 1st quarter valued at $31,000. Quarry LP purchased a new position in Delek US in the 2nd quarter worth about $43,000. TFO Wealth Partners LLC lifted its holdings in Delek US by 627,400.0% during the 4th quarter. TFO Wealth Partners LLC now owns 6,275 shares of the oil and gas company’s stock valued at $162,000 after buying an additional 6,274 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Delek US during the first quarter valued at approximately $172,000. Finally, Bailard Inc. purchased a new stake in shares of Delek US in the second quarter valued at approximately $201,000. 97.01% of the stock is currently owned by 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.