Delek US (NYSE:DK) Coverage Initiated by Analysts at Bank of America

Analysts at Bank of America initiated coverage on shares of Delek US (NYSE:DK) in a report released on Thursday, StockNewsAPI reports. The brokerage set an “underperform” rating and a $15.00 price target on the oil and gas company’s stock. Bank of America‘s target price indicates a potential downside of 14.19% from the stock’s previous close.

Several other equities analysts have also recently weighed in on DK. Wolfe Research assumed coverage on Delek US in a research note on Thursday, July 18th. They set an “underperform” rating and a $19.00 price objective on the stock. Scotiabank dropped their price target on shares of Delek US from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. StockNews.com lowered shares of Delek US from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. TD Cowen cut their target price on Delek US from $19.00 to $18.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Finally, Wells Fargo & Company reduced their target price on Delek US from $21.00 to $18.00 and set an “underweight” rating for the company in a report on Wednesday, October 9th. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.00.

Delek US Stock Performance

Shares of DK opened at $17.48 on Thursday. 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 50-day moving average of $19.83 and a 200-day moving average of $23.93. The company has a market cap of $1.12 billion, a PE ratio of -14.10 and a beta of 1.13. Delek US has a one year low of $17.18 and a one year high of $33.60.

Delek US (NYSE:DK) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 4.53% and a negative net margin of 0.69%. The company’s quarterly revenue was down 18.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. On average, equities research analysts predict that Delek US will post -3.79 EPS for the current fiscal year.

Insider Activity at Delek US

In other Delek US news, CEO Avigal Soreq acquired 5,651 shares of Delek US stock in a transaction that occurred on Friday, August 9th. The stock was acquired 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 of the company’s stock, valued at approximately $3,856,950.02. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Delek US

A number of large investors have recently made changes to their positions in the stock. SummerHaven Investment Management LLC boosted its position in shares of Delek US by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 32,845 shares of the oil and gas company’s stock valued at $813,000 after acquiring an additional 580 shares during the period. Shell Asset Management Co. raised its position in shares of Delek US by 6.8% in the first quarter. Shell Asset Management Co. now owns 9,890 shares of the oil and gas company’s stock worth $304,000 after buying an additional 628 shares in the last quarter. ProShare Advisors LLC grew its position in Delek US by 7.1% during the first quarter. ProShare Advisors LLC now owns 11,412 shares of the oil and gas company’s stock worth $351,000 after buying an additional 754 shares in the last quarter. Thoroughbred Financial Services LLC increased its stake in Delek US by 2.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 50,394 shares of the oil and gas company’s stock worth $1,247,000 after acquiring an additional 1,246 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Delek US by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,415 shares of the oil and gas company’s stock valued at $827,000 after acquiring an additional 1,282 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

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.