Mizuho Trims Delek US (NYSE:DK) Target Price to $27.00

Delek US (NYSE:DK) had its price objective reduced by Mizuho from $31.00 to $27.00 in a research note issued to investors on Thursday, Benzinga reports. Mizuho currently has an underperform rating on the oil and gas company’s stock.

A number of other research firms have also recently issued reports on DK. TD Cowen cut shares of Delek US from a hold rating to a sell rating and reduced their target price for the company from $25.00 to $20.00 in a research note on Monday, June 10th. Piper Sandler reduced their target price on shares of Delek US from $30.00 to $25.00 and set a neutral rating for the company in a research note on Friday, June 14th. JPMorgan Chase & Co. reduced their target price on shares of Delek US from $26.00 to $25.00 and set an underweight rating for the company in a research note on Tuesday, May 21st. Wells Fargo & Company reduced their price objective on shares of Delek US from $26.00 to $25.00 and set an underweight rating for the company in a research note on Thursday, June 6th. Finally, Bank of America boosted their price objective on shares of Delek US from $30.00 to $32.00 and gave the stock a neutral rating in a research note on Friday, March 15th. Five analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $27.00.

Delek US Stock Performance

Shares of DK opened at $24.15 on Thursday. The company’s 50 day moving average price is $27.01 and its 200 day moving average price is $27.32. Delek US has a 52 week low of $21.68 and a 52 week high of $33.60. The company has a market capitalization of $1.55 billion, a PE ratio of -19.48 and a beta of 1.28. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.64 and a current ratio of 1.04.

Delek US (NYSE:DK) last announced its quarterly earnings data on Tuesday, May 7th. The oil and gas company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.15. Delek US had a negative net margin of 0.48% and a positive return on equity of 7.37%. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the previous year, the firm posted $1.37 earnings per share. The firm’s revenue was down 17.8% on a year-over-year basis. Research analysts expect that Delek US will post 0.88 EPS for the current fiscal year.

Delek US Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 17th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.14%. The ex-dividend date was Thursday, May 16th. This is a positive change from Delek US’s previous quarterly dividend of $0.25. Delek US’s payout ratio is -80.65%.

Insider Buying and Selling at Delek US

In other Delek US news, Director Richard J. Marcogliese purchased 2,750 shares of the stock in a transaction on Wednesday, June 12th. The shares were purchased at an average price of $23.99 per share, with a total value of $65,972.50. Following the acquisition, the director now directly owns 42,863 shares of the company’s stock, valued at approximately $1,028,283.37. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 2,854 shares of company stock valued at $78,241 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Delek US

Several large investors have recently made changes to their positions in DK. River Road Asset Management LLC grew its holdings in shares of Delek US by 510.1% in the 4th 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 purchasing an additional 3,132,971 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of 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 purchasing an additional 900,600 shares during the last quarter. Norges Bank bought a new stake in shares of Delek US in the 4th quarter worth about $16,341,000. Raymond James & Associates bought a new stake in shares of Delek US in the 4th quarter worth about $13,295,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Delek US during the 3rd quarter worth about $7,464,000. 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.