Delek US (NYSE:DK) Upgraded at JPMorgan Chase & Co.

Delek US (NYSE:DK) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Briefing.com reports. The firm currently has a $26.00 price objective on the oil and gas company’s stock, up from their previous price objective of $23.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 38.59% from the company’s previous close.

A number of other analysts have also recently commented on DK. StockNews.com cut Delek US from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. 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. Scotiabank decreased their price objective on Delek US from $27.00 to $25.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Wells Fargo & Company boosted their price objective on Delek US from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Tuesday, September 3rd. Finally, TD Cowen decreased their price objective on Delek US from $19.00 to $18.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Delek US currently has an average rating of “Hold” and a consensus price target of $25.70.

Delek US Stock Down 3.9 %

Delek US stock opened at $18.76 on Tuesday. The business has a fifty day moving average price of $21.67 and a 200-day moving average price of $25.57. Delek US has a 1-year low of $18.75 and a 1-year high of $33.60. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.98 and a quick ratio of 0.58. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -15.13 and a beta of 1.14.

Delek US (NYSE:DK) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) EPS for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.50. Delek US had a negative return on equity of 4.53% and a negative net margin of 0.69%. The company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the previous year, the firm posted $1.00 EPS. The firm’s revenue was down 18.4% compared to the same quarter last year. Equities research analysts forecast that Delek US will post -2.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Avigal Soreq acquired 5,651 shares of the business’s stock in a transaction on Friday, August 9th. The stock was bought at an average cost of $20.42 per share, for a total transaction of $115,393.42. Following the purchase, the chief executive officer now owns 188,881 shares in the company, valued at $3,856,950.02. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Avigal Soreq bought 5,651 shares of the stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of $20.42 per share, for a total transaction of $115,393.42. Following the acquisition, the chief executive officer now directly owns 188,881 shares in the company, valued at approximately $3,856,950.02. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard J. Marcogliese bought 2,750 shares of the stock in a transaction dated Wednesday, June 12th. The shares were bought at an average price of $23.99 per share, for a total transaction of $65,972.50. Following the completion of the acquisition, the director now owns 42,863 shares in the company, valued at $1,028,283.37. The disclosure for this purchase can be found here. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DK. Encompass Capital Advisors LLC acquired a new position in Delek US in the second quarter valued at approximately $22,833,000. Point72 Asset Management L.P. acquired a new position in Delek US in the second quarter valued at approximately $19,806,000. Norges Bank acquired a new position in Delek US in the fourth quarter valued at approximately $16,341,000. SIR Capital Management L.P. lifted its holdings in Delek US by 37.2% in the second quarter. SIR Capital Management L.P. now owns 876,133 shares of the oil and gas company’s stock valued at $21,693,000 after acquiring an additional 237,734 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Delek US by 627.2% in the first quarter. Acadian Asset Management LLC now owns 266,663 shares of the oil and gas company’s stock valued at $8,191,000 after acquiring an additional 229,992 shares during the last quarter. 97.01% of the stock is currently 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.