JPMorgan Chase & Co. Cuts Delek US (NYSE:DK) Price Target to $38.00

Delek US (NYSE:DK) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $42.00 to $38.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 30.48% from the stock’s current price.

A number of other analysts also recently weighed in on DK. Mizuho upped their target price on Delek US from $45.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Raymond James Financial upped their price objective on shares of Delek US from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. The Goldman Sachs Group lifted their target price on shares of Delek US from $28.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. UBS Group boosted their price target on shares of Delek US from $31.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 18th. Finally, Cowen upgraded Delek US from a “sell” rating to a “hold” rating in a report on Friday, September 19th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.23.

Delek US Price Performance

DK traded down $1.03 on Thursday, reaching $29.12. The company had a trading volume of 797,202 shares, compared to its average volume of 1,419,966. Delek US has a 52-week low of $11.02 and a 52-week high of $43.50. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -3.57 and a beta of 0.81. The company has a debt-to-equity ratio of 7.12, a quick ratio of 0.58 and a current ratio of 0.86. The business has a 50 day simple moving average of $34.73 and a 200 day simple moving average of $30.74.

Delek US (NYSE:DK) last posted its quarterly earnings data on Friday, November 7th. The oil and gas company reported $7.13 earnings per share for the quarter, beating the consensus estimate of $0.28 by $6.85. Delek US had a negative net margin of 4.83% and a negative return on equity of 56.40%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter last year, the company posted ($1.45) EPS. The business’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Delek US will post -5.5 EPS for the current year.

Insider Activity at Delek US

In related news, EVP Joseph Israel sold 4,380 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $40.94, for a total transaction of $179,317.20. Following the completion of the transaction, the executive vice president owned 55,761 shares of the company’s stock, valued at $2,282,855.34. This trade represents a 7.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert G. Wright sold 2,303 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $40.43, for a total transaction of $93,110.29. Following the completion of the transaction, the executive vice president owned 38,966 shares in the company, valued at approximately $1,575,395.38. The trade was a 5.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 59,354 shares of company stock worth $2,446,658 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Delek US

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS increased its stake in shares of Delek US by 64.3% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 25,050 shares of the oil and gas company’s stock worth $531,000 after purchasing an additional 9,800 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Delek US in the 2nd quarter worth approximately $1,089,000. Y Intercept Hong Kong Ltd bought a new stake in Delek US during the 2nd quarter worth approximately $454,000. Squarepoint Ops LLC bought a new position in shares of Delek US in the second quarter worth approximately $1,066,000. Finally, Clifford Capital Partners LLC increased its stake in shares of Delek US by 1.9% in the second quarter. Clifford Capital Partners LLC now owns 807,249 shares of the oil and gas company’s stock worth $17,098,000 after purchasing an additional 14,872 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

About Delek US

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.