Delek US (NYSE:DK) Price Target Lowered to $44.00 at TD Cowen

Delek US (NYSE:DK) had its price objective lowered by TD Cowen from $60.00 to $44.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a hold rating on the oil and gas company’s stock.

A number of other research firms have also recently issued reports on DK. Mizuho increased their target price on Delek US from $51.00 to $54.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Scotiabank raised Delek US to a “hold” rating in a research note on Friday, March 27th. JPMorgan Chase & Co. lowered their target price on Delek US from $42.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, January 15th. The Goldman Sachs Group raised Delek US from a “neutral” rating to a “buy” rating and increased their target price for the stock from $43.00 to $55.00 in a research note on Friday, April 10th. Finally, Raymond James Financial upped their price target on Delek US from $47.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Delek US presently has a consensus rating of “Hold” and an average price target of $44.15.

Delek US Price Performance

NYSE DK opened at $40.47 on Monday. The business has a 50 day simple moving average of $41.09 and a 200 day simple moving average of $36.49. Delek US has a 52-week low of $12.80 and a 52-week high of $48.32. The company has a debt-to-equity ratio of 5.89, a quick ratio of 0.53 and a current ratio of 0.82. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -115.63, a PEG ratio of 0.97 and a beta of 0.68.

Delek US (NYSE:DK) last posted its earnings results on Friday, February 27th. The oil and gas company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.63. Delek US had a negative return on equity of 13.55% and a negative net margin of 0.21%.The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the prior year, the business earned ($2.54) EPS. Delek US’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts anticipate that Delek US will post 1.38 earnings per share for the current fiscal year.

Delek US Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, May 1st will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Friday, May 1st. This represents a $1.02 dividend on an annualized basis and a yield of 2.5%. Delek US’s dividend payout ratio is -291.43%.

Insider Activity

In other Delek US news, EVP Denise Clark Mcwatters sold 11,988 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $41.33, for a total transaction of $495,464.04. Following the completion of the transaction, the executive vice president owned 74,196 shares of the company’s stock, valued at $3,066,520.68. This represents a 13.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Avigal Soreq sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $41.08, for a total value of $2,054,000.00. Following the transaction, the chief executive officer directly owned 251,678 shares of the company’s stock, valued at approximately $10,338,932.24. This trade represents a 16.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 172,095 shares of company stock worth $7,257,409. 3.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Delek US

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Delek US by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company’s stock valued at $187,773,000 after buying an additional 38,577 shares during the last quarter. Ion Asset Management Ltd. boosted its holdings in shares of Delek US by 1.8% in the 2nd quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company’s stock valued at $79,296,000 after buying an additional 67,490 shares during the last quarter. State Street Corp boosted its holdings in shares of Delek US by 3.4% in the 4th quarter. State Street Corp now owns 2,639,447 shares of the oil and gas company’s stock valued at $78,286,000 after buying an additional 87,846 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Delek US by 24.7% in the 4th quarter. Morgan Stanley now owns 2,033,037 shares of the oil and gas company’s stock valued at $60,300,000 after buying an additional 403,059 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Delek US by 29.4% in the 3rd quarter. Barclays PLC now owns 1,873,578 shares of the oil and gas company’s stock valued at $60,460,000 after buying an additional 425,896 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Delek US Company Profile

Delek US Holdings, Inc (NYSE: DK) is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.