Mizuho Cuts Delek US (NYSE:DK) Price Target to $22.00

Delek US (NYSE:DKFree Report) had its price target trimmed by Mizuho from $25.00 to $22.00 in a report published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

A number of other analysts have also commented on the company. Piper Sandler cut their price target on shares of Delek US from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Morgan Stanley dropped their target price on shares of Delek US from $19.00 to $18.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. JPMorgan Chase & Co. boosted their price target on shares of Delek US from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Wells Fargo & Company raised their price objective on shares of Delek US from $15.00 to $16.00 and gave the stock an “underweight” rating in a report on Friday, March 21st. Finally, Wolfe Research raised Delek US from an “underperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Five investment 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 data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.93.

Read Our Latest Stock Analysis on DK

Delek US Price Performance

DK stock opened at $12.48 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.67 and a debt-to-equity ratio of 3.18. The firm’s 50-day moving average price is $15.72 and its two-hundred day moving average price is $17.33. The stock has a market capitalization of $779.97 million, a price-to-earnings ratio of -2.57 and a beta of 1.04. Delek US has a 12-month low of $11.03 and a 12-month high of $32.09.

Delek US (NYSE:DKGet Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.53) by ($1.01). Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the firm earned ($1.46) EPS. The firm’s revenue for the quarter was down 39.8% on a year-over-year basis. As a group, equities analysts predict that Delek US will post -5.5 earnings per share for the current year.

Delek US Dividend Announcement

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

Insider Buying and Selling at Delek US

In other news, CFO Mark Wayne Hobbs acquired 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $13.70 per share, with a total value of $38,360.00. Following the transaction, the chief financial officer now owns 49,138 shares of the company’s stock, valued at $673,190.60. This trade represents a 6.04 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders purchased 5,055 shares of company stock worth $70,787. 1.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ion Asset Management Ltd. raised its holdings in Delek US by 16.5% in the 4th quarter. Ion Asset Management Ltd. now owns 3,455,000 shares of the oil and gas company’s stock worth $63,918,000 after acquiring an additional 488,509 shares during the last quarter. State Street Corp increased its holdings in shares of Delek US by 8.0% in the 3rd quarter. State Street Corp now owns 3,019,307 shares of the oil and gas company’s stock worth $56,612,000 after purchasing an additional 223,110 shares in the last quarter. Barclays PLC increased its holdings in shares of Delek US by 23.1% in the 4th quarter. Barclays PLC now owns 1,842,035 shares of the oil and gas company’s stock worth $34,078,000 after purchasing an additional 345,210 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Delek US by 4.5% in the third quarter. Geode Capital Management LLC now owns 1,459,301 shares of the oil and gas company’s stock worth $27,368,000 after purchasing an additional 63,502 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Delek US by 21.9% during the fourth quarter. Nuveen Asset Management LLC now owns 1,005,309 shares of the oil and gas company’s stock valued at $18,598,000 after purchasing an additional 180,498 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Delek US Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Delek US (NYSE:DK)

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