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

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 price target on the oil and gas company’s stock, up from their previous price target of $23.00.

Several other equities research analysts have also recently commented on DK. Mizuho dropped their price target on shares of Delek US from $31.00 to $27.00 and set an underperform rating on the stock in a research report on Thursday, June 20th. Wells Fargo & Company boosted their price target on shares of Delek US from $20.00 to $21.00 and gave the stock an underweight rating in a research report on Tuesday, September 3rd. Scotiabank dropped their price target on shares of Delek US from $27.00 to $25.00 and set a sector perform rating on the stock in a research report on Friday, July 12th. Wolfe Research began coverage on shares of Delek US in a research report on Thursday, July 18th. They issued an underperform rating and a $19.00 price target on the stock. Finally, Piper Sandler cut their price objective on Delek US from $30.00 to $25.00 and set a neutral rating on the stock in a report on Friday, June 14th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Delek US presently has an average rating of Hold and a consensus price target of $25.70.

Delek US Stock Performance

DK stock opened at $18.87 on Tuesday. The company has a market capitalization of $1.21 billion, a P/E ratio of -15.22 and a beta of 1.14. The company has a 50-day simple moving average of $21.34 and a 200 day simple moving average of $25.41. Delek US has a fifty-two week low of $18.35 and a fifty-two week high of $33.60. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 2.50.

Delek US (NYSE:DK) last posted its quarterly earnings data 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 company’s quarterly revenue was down 18.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 earnings per share. Sell-side analysts predict that Delek US will post -2.87 earnings per share for the current fiscal year.

Delek US Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were given a dividend of $0.255 per share. The ex-dividend date was Monday, August 12th. This is an increase from Delek US’s previous quarterly dividend of $0.20. This represents a $1.02 dividend on an annualized basis and a yield of 5.41%. Delek US’s payout ratio is presently -82.26%.

Insider Buying and Selling at Delek US

In related news, CEO Avigal Soreq purchased 5,651 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $20.42 per share, with a total value of $115,393.42. Following the completion of the purchase, the chief executive officer now 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 is available through the SEC website. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Delek US

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in Delek US by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 620,957 shares of the oil and gas company’s stock worth $16,021,000 after buying an additional 13,238 shares during the last quarter. Versor Investments LP acquired a new position in Delek US during the fourth quarter worth $406,000. Teacher Retirement System of Texas acquired a new position in Delek US during the fourth quarter worth $395,000. Dimensional Fund Advisors LP increased its position in 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 worth $106,790,000 after buying an additional 59,537 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Delek US by 10.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 65,508 shares of the oil and gas company’s stock worth $1,690,000 after buying an additional 6,398 shares during the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

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.