JPMorgan Chase & Co. Cuts Delek US (NYSE:DK) Price Target to $38.00

Delek US (NYSE:DK) had its price objective cut by JPMorgan Chase & Co. from $42.00 to $38.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

DK has been the topic of several other reports. Raymond James Financial raised their target price on Delek US from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Piper Sandler cut their price objective on Delek US from $47.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. The Goldman Sachs Group upped their target price on Delek US from $28.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Morgan Stanley lifted their price target on shares of Delek US from $34.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, November 14th. Finally, Scotiabank lifted their target price on shares of Delek US from $33.00 to $40.00 and gave the stock a “sector perform” rating in a report on Monday, November 10th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $38.77.

Delek US Price Performance

NYSE DK opened at $27.64 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.86 and a debt-to-equity ratio of 7.12. The stock has a market capitalization of $1.66 billion, a PE ratio of -3.39 and a beta of 0.81. Delek US has a 12-month low of $11.02 and a 12-month high of $43.50. The company has a 50 day moving average price of $34.25 and a two-hundred day moving average price of $30.83.

Delek US (NYSE:DK) last announced its quarterly earnings results on Friday, November 7th. The oil and gas company reported $7.13 EPS for the quarter, topping the consensus estimate of $0.28 by $6.85. Delek US had a negative net margin of 4.83% and a negative return on equity of 56.40%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the prior year, the business posted ($1.45) EPS. Delek US’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, equities analysts predict that Delek US will post -5.5 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, November 10th were given a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 3.7%. The ex-dividend date was Monday, November 10th. Delek US’s dividend payout ratio (DPR) is currently -12.50%.

Insider Transactions at Delek US

In other news, EVP Robert G. Wright sold 5,643 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $41.46, for a total transaction of $233,958.78. Following the completion of the transaction, the executive vice president owned 41,269 shares of the company’s stock, valued at approximately $1,711,012.74. This represents a 12.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Reuven Spiegel sold 27,000 shares of Delek US stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $41.36, for a total value of $1,116,720.00. Following the sale, the executive vice president directly owned 23,020 shares in the company, valued at approximately $952,107.20. This trade represents a 53.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 59,354 shares of company stock worth $2,446,658. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Delek US

A number of institutional investors and hedge funds have recently modified their holdings of DK. Arrowstreet Capital Limited Partnership boosted its stake in Delek US by 6,300.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,306,269 shares of the oil and gas company’s stock worth $42,153,000 after buying an additional 1,285,861 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Delek US by 113.5% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,601,777 shares of the oil and gas company’s stock valued at $33,926,000 after buying an additional 851,458 shares in the last quarter. Voloridge Investment Management LLC bought a new position in shares of Delek US during the 3rd quarter worth about $23,308,000. BNP Paribas Financial Markets boosted its position in shares of Delek US by 345.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 613,085 shares of the oil and gas company’s stock valued at $19,784,000 after acquiring an additional 475,481 shares in the last quarter. Finally, Barclays PLC increased its stake in Delek US by 29.4% in the third quarter. Barclays PLC now owns 1,873,578 shares of the oil and gas company’s stock valued at $60,460,000 after acquiring an additional 425,896 shares during the period. 97.01% of the stock is currently owned by institutional investors.

About Delek US

Delek US Holdings, Inc (NYSE: DK) is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.