Delek US (NYSE:DK) Coverage Initiated at Wolfe Research

Wolfe Research began coverage on shares of Delek US (NYSE:DK) in a research report sent to investors on Thursday, Marketbeat reports. The firm issued an underperform rating and a $19.00 price target on the oil and gas company’s stock.

DK has been the subject of a number of other research reports. Wells Fargo & Company lowered their target price on Delek US from $25.00 to $20.00 and set an underweight rating for the company in a report on Tuesday, July 16th. Mizuho decreased their price objective on Delek US from $31.00 to $27.00 and set an underperform rating for the company in a report on Thursday, June 20th. JPMorgan Chase & Co. decreased their price objective on Delek US from $25.00 to $23.00 and set an underweight rating for the company in a report on Tuesday, July 2nd. Piper Sandler decreased their price objective on Delek US from $30.00 to $25.00 and set a neutral rating for the company in a report on Friday, June 14th. Finally, TD Cowen lowered Delek US from a hold rating to a sell rating and decreased their price objective for the company from $25.00 to $20.00 in a report on Monday, June 10th. Five equities research 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. According to MarketBeat, Delek US presently has a consensus rating of Hold and an average target price of $25.50.

Delek US Stock Performance

Delek US stock opened at $21.63 on Thursday. The business has a fifty day moving average of $24.95 and a two-hundred day moving average of $26.92. 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 has a twelve month low of $21.16 and a twelve month high of $33.60.

Delek US (NYSE:DK) last posted its earnings results on Tuesday, May 7th. The oil and gas company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.15. The company had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.28 billion. Delek US had a positive return on equity of 7.37% and a negative net margin of 0.48%. Delek US’s revenue was down 17.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.37 earnings per share. On average, research analysts predict that Delek US will post -2.23 EPS for the current fiscal year.

Delek US Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 17th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.62%. This is an increase from Delek US’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, May 16th. Delek US’s dividend payout ratio is presently -80.65%.

Insider Activity at Delek US

In related news, Director Richard J. Marcogliese purchased 2,750 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were bought at an average cost of $23.99 per share, with a total value of $65,972.50. Following the transaction, the director now owns 42,863 shares of the company’s stock, valued at $1,028,283.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 2,854 shares of company stock valued at $71,078 in the last ninety days. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Delek US

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DK. Public Employees Retirement System of Ohio acquired a new stake in Delek US during the 3rd quarter worth about $731,000. Diversified Trust Co acquired a new stake in Delek US during the 4th quarter worth about $241,000. First Hawaiian Bank acquired a new stake in shares of Delek US during the 4th quarter valued at about $203,000. Raymond James & Associates acquired a new stake in shares of Delek US during the 4th quarter valued at about $13,295,000. Finally, Spirit of America Management Corp NY acquired a new stake in shares of Delek US during the 4th quarter valued at about $26,000. 97.01% of the stock is owned by institutional investors and hedge funds.

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.