Delek US (NYSE:DK) Shares Gap Down on Analyst Downgrade

Shares of Delek US Holdings, Inc. (NYSE:DK) gapped down prior to trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $42.00 to $38.00. The stock had previously closed at $30.15, but opened at $29.17. JPMorgan Chase & Co. currently has a neutral rating on the stock. Delek US shares last traded at $29.2320, with a volume of 179,454 shares traded.

Several other research analysts have also recently weighed in on DK. UBS Group upped their price objective on shares of Delek US from $31.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 18th. Piper Sandler dropped their price target on Delek US from $47.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Scotiabank lifted their price objective on Delek US from $33.00 to $40.00 and gave the stock a “sector perform” rating in a report on Monday, November 10th. Cowen upgraded Delek US from a “sell” rating to a “hold” rating in a research report on Friday, September 19th. Finally, Wall Street Zen upgraded shares of Delek US from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Delek US has a consensus rating of “Hold” and an average price target of $38.77.

Insiders Place Their Bets

In other news, EVP Reuven Spiegel sold 27,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $41.36, for a total transaction of $1,116,720.00. Following the sale, the executive vice president owned 23,020 shares in the company, valued at $952,107.20. This represents a 53.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Robert G. Wright sold 2,303 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $40.43, for a total transaction of $93,110.29. Following the sale, the executive vice president directly owned 38,966 shares of the company’s stock, valued at $1,575,395.38. This trade represents a 5.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 59,354 shares of company stock valued at $2,446,658. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Delek US

Several large investors have recently added to or reduced their stakes in the business. AMG National Trust Bank raised its holdings in Delek US by 0.4% in the 2nd quarter. AMG National Trust Bank now owns 109,223 shares of the oil and gas company’s stock worth $2,313,000 after purchasing an additional 472 shares during the period. Orion Porfolio Solutions LLC boosted its position in shares of Delek US by 2.2% in the second quarter. Orion Porfolio Solutions LLC now owns 23,244 shares of the oil and gas company’s stock worth $492,000 after purchasing an additional 507 shares during the period. Alliancebernstein L.P. increased its stake in shares of Delek US by 0.9% in the third quarter. Alliancebernstein L.P. now owns 66,005 shares of the oil and gas company’s stock worth $2,130,000 after purchasing an additional 573 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in shares of Delek US by 5.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 13,546 shares of the oil and gas company’s stock valued at $287,000 after purchasing an additional 686 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of Delek US during the 3rd quarter valued at $27,000. 97.01% of the stock is currently owned by institutional investors.

Delek US Price Performance

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 company has a market cap of $1.66 billion, a P/E ratio of -3.39 and a beta of 0.81. The firm’s fifty day moving average is $34.25 and its two-hundred day moving average is $30.77.

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

Delek US Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 10th were issued a $0.255 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.7%. Delek US’s payout ratio is -12.50%.

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.