Raymond James Lowers Delek US (NYSE:DK) Price Target to $23.00

Delek US (NYSE:DK) had its target price trimmed by Raymond James from $24.00 to $23.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the oil and gas company’s stock.

Several other brokerages have also recently weighed in on DK. Wolfe Research raised shares of Delek US from an “underperform” rating to a “peer perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. raised their price objective on shares of Delek US from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Wells Fargo & Company boosted their target price on shares of Delek US from $15.00 to $16.00 and gave the stock an “underweight” rating in a research note on Friday, March 21st. Piper Sandler cut their price target on Delek US from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Finally, Mizuho lowered their price objective on Delek US from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday. Five 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.93.

Delek US Stock Performance

Shares of DK stock opened at $12.48 on Wednesday. The firm has a 50 day moving average of $15.72 and a two-hundred day moving average of $17.33. The stock has a market capitalization of $779.97 million, a PE ratio of -2.57 and a beta of 1.04. The company has a quick ratio of 0.67, a current ratio of 1.04 and a debt-to-equity ratio of 3.18. Delek US has a 52 week low of $11.03 and a 52 week high of $32.09.

Delek US (NYSE:DK) last released its earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) EPS for the quarter, missing the consensus estimate of ($1.53) by ($1.01). Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the firm earned ($1.46) earnings per share. The company’s revenue for the quarter was down 39.8% compared to the same quarter last year. On average, research analysts predict that Delek US will post -5.5 EPS for the current fiscal year.

Delek US Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, March 3rd were given a dividend of $0.255 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 8.18%. Delek US’s dividend payout ratio (DPR) is presently -11.54%.

Insider Activity

In related news, CFO Mark Wayne Hobbs purchased 2,800 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average price of $13.70 per share, with a total value of $38,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 49,138 shares in the company, valued at $673,190.60. This represents a 6.04 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have acquired 5,055 shares of company stock valued at $70,787 in the last ninety days. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Delek US

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in shares of Delek US by 8.0% in the third quarter. State Street Corp now owns 3,019,307 shares of the oil and gas company’s stock valued at $56,612,000 after purchasing an additional 223,110 shares during the period. XTX Topco Ltd purchased a new position in Delek US in the 3rd quarter valued at $238,000. Orion Portfolio Solutions LLC increased its stake in Delek US by 7.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 18,254 shares of the oil and gas company’s stock valued at $342,000 after buying an additional 1,292 shares during the period. Y Intercept Hong Kong Ltd increased its stake in Delek US by 123.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 42,125 shares of the oil and gas company’s stock valued at $790,000 after buying an additional 23,298 shares during the period. Finally, Barclays PLC raised its position in Delek US by 51.5% during the 3rd quarter. Barclays PLC now owns 1,496,825 shares of the oil and gas company’s stock worth $28,065,000 after buying an additional 508,719 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

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.