Delek US (NYSE:DK) Reaches New 12-Month Low – Here’s Why

Shares of Delek US Holdings, Inc. (NYSE:DK) hit a new 52-week low during trading on Monday . The stock traded as low as $16.89 and last traded at $16.89, with a volume of 69648 shares. The stock had previously closed at $17.11.

Analyst Ratings Changes

Several brokerages have recently issued reports on DK. Bank of America began coverage on shares of Delek US in a research report on Thursday. They set an “underperform” rating and a $15.00 price objective for the company. Wolfe Research initiated coverage on Delek US in a report on Thursday, July 18th. They issued an “underperform” rating and a $19.00 price target on the stock. Scotiabank decreased their price objective on Delek US from $25.00 to $22.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. cut their target price on Delek US from $26.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Finally, TD Cowen lowered their price objective on shares of Delek US from $19.00 to $18.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.00.

Delek US Stock Performance

The company’s 50-day moving average is $19.70 and its two-hundred day moving average is $23.67. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 2.50. The firm has a market cap of $1.06 billion, a P/E ratio of -13.80 and a beta of 1.13.

Delek US (NYSE:DK) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.50. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the firm earned $1.00 EPS. The business’s quarterly revenue was down 18.4% compared to the same quarter last year. As a group, equities analysts predict that Delek US Holdings, Inc. will post -3.79 EPS for the current fiscal year.

Delek US Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders 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 is a positive change from Delek US’s previous quarterly dividend of $0.20. This represents a $1.02 annualized dividend and a yield of 6.14%. Delek US’s payout ratio is presently -82.26%.

Insider Buying and Selling

In other news, CEO Avigal Soreq bought 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, with a total value of $115,393.42. Following the completion of the purchase, the chief executive officer now directly owns 188,881 shares in the company, valued at $3,856,950.02. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by company insiders.

Institutional Trading of Delek US

Institutional investors have recently modified their holdings of the company. Quadrature Capital Ltd purchased a new position in Delek US during the 4th quarter valued at $406,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Delek US during the first quarter valued at $270,000. Diversified Trust Co raised its position in Delek US by 15.7% in the 1st quarter. Diversified Trust Co now owns 10,824 shares of the oil and gas company’s stock worth $333,000 after buying an additional 1,472 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Delek US during the 1st quarter valued at about $172,000. Finally, Janney Montgomery Scott LLC grew its stake in shares of Delek US by 9.7% in the first quarter. Janney Montgomery Scott LLC now owns 71,863 shares of the oil and gas company’s stock worth $2,209,000 after acquiring an additional 6,355 shares during the period. 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.