Delek US’s (DK) “Underweight” Rating Reiterated at Morgan Stanley

Morgan Stanley restated their underweight rating on shares of Delek US (NYSE:DK) in a report published on Wednesday, MarketBeat Ratings reports. The firm currently has a $19.00 price target on the oil and gas company’s stock, up from their previous price target of $15.00.

DK has been the subject of a number of other reports. Raymond James Financial increased their target price on Delek US from $23.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday. Scotiabank restated a “sector perform” rating and set a $20.00 price target (up from $14.00) on shares of Delek US in a research report on Friday, July 11th. Wells Fargo & Company increased their price target on Delek US from $11.00 to $15.00 and gave the stock an “underweight” rating in a research report on Wednesday, June 11th. Mizuho upgraded Delek US from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $22.00 to $23.00 in a research report on Tuesday, May 13th. Finally, Citigroup restated a “neutral” rating and set a $30.00 price target (up from $15.00) on shares of Delek US in a research report on Wednesday. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.77.

Delek US Price Performance

NYSE DK opened at $24.62 on Wednesday. Delek US has a twelve month low of $11.03 and a twelve month high of $27.07. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.53 and a current ratio of 0.85. The stock has a market capitalization of $1.50 billion, a PE ratio of -2.22 and a beta of 0.98. The stock has a 50-day simple moving average of $21.08 and a 200 day simple moving average of $17.78.

Delek US (NYSE:DK) last posted its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported ($2.32) EPS for the quarter, missing the consensus estimate of ($2.27) by ($0.05). The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.56 billion. Delek US had a negative net margin of 6.10% and a negative return on equity of 63.88%. The company’s revenue was down 18.1% on a year-over-year basis. During the same period last year, the company earned ($0.41) EPS. Research analysts anticipate that Delek US will post -5.5 EPS for the current year.

Delek US Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 12th were paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Monday, May 12th. Delek US’s payout ratio is presently -9.18%.

Institutional Trading of Delek US

Several hedge funds and other institutional investors have recently modified their holdings of the company. SummerHaven Investment Management LLC raised its stake in shares of Delek US by 3.2% in the 2nd quarter. SummerHaven Investment Management LLC now owns 35,575 shares of the oil and gas company’s stock valued at $753,000 after purchasing an additional 1,095 shares during the period. Wedge Capital Management L L P NC grew its holdings in shares of Delek US by 8.8% in the 2nd quarter. Wedge Capital Management L L P NC now owns 39,907 shares of the oil and gas company’s stock valued at $845,000 after acquiring an additional 3,241 shares in the last quarter. Kawa Capital Management Inc grew its holdings in shares of Delek US by 72.2% in the 1st quarter. Kawa Capital Management Inc now owns 400,000 shares of the oil and gas company’s stock valued at $6,192,000 after acquiring an additional 167,750 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Delek US by 3.4% in the 1st quarter. Rhumbline Advisers now owns 121,201 shares of the oil and gas company’s stock valued at $1,826,000 after acquiring an additional 4,031 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Delek US by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,871 shares of the oil and gas company’s stock valued at $2,213,000 after acquiring an additional 9,827 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.