Delek US (NYSE:DK) Downgraded by TD Cowen to Sell

TD Cowen cut shares of Delek US (NYSE:DKFree Report) from a hold rating to a sell rating in a research note released on Monday morning, Marketbeat.com reports. TD Cowen currently has $20.00 price target on the oil and gas company’s stock, down from their prior price target of $25.00.

Several other brokerages have also issued reports on DK. JPMorgan Chase & Co. cut their price target on Delek US from $26.00 to $25.00 and set an underweight rating on the stock in a research note on Tuesday, May 21st. StockNews.com cut Delek US from a buy rating to a hold rating in a research report on Thursday, February 29th. Mizuho raised their price objective on Delek US from $30.00 to $31.00 and gave the company an underperform rating in a research report on Monday, May 13th. Scotiabank increased their target price on Delek US from $25.00 to $27.00 and gave the stock a sector perform rating in a research note on Thursday, April 11th. Finally, Piper Sandler lowered their price objective on Delek US from $31.00 to $30.00 and set a neutral rating on the stock in a research note on Tuesday, May 14th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $27.90.

Read Our Latest Analysis on Delek US

Delek US Stock Performance

Shares of NYSE DK opened at $24.03 on Monday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.64 and a current ratio of 1.04. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -19.38 and a beta of 1.28. The business’s 50-day simple moving average is $27.97 and its 200-day simple moving average is $27.45. Delek US has a 52 week low of $21.68 and a 52 week high of $33.60.

Delek US (NYSE:DKGet Free Report) last released its earnings results on Tuesday, May 7th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.15. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.28 billion. Delek US had a positive return on equity of 7.37% and a negative net margin of 0.48%. The company’s revenue was down 17.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.37 EPS. As a group, equities research analysts expect that Delek US will post 1.08 earnings per share for the current fiscal year.

Delek US Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 17th were issued a dividend of $0.25 per share. This is an increase from Delek US’s previous quarterly dividend of $0.25. This represents a $1.00 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend was Thursday, May 16th. Delek US’s dividend payout ratio (DPR) is -80.65%.

Institutional Trading of Delek US

A number of hedge funds and other institutional investors have recently made changes to their positions in DK. Principal Financial Group Inc. purchased a new position in Delek US during the 3rd quarter valued at about $273,000. New York State Common Retirement Fund raised its stake in shares of Delek US by 7.0% in the third quarter. New York State Common Retirement Fund now owns 40,949 shares of the oil and gas company’s stock valued at $1,163,000 after purchasing an additional 2,671 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Delek US by 10.8% in the third quarter. Janney Montgomery Scott LLC now owns 59,110 shares of the oil and gas company’s stock valued at $1,679,000 after purchasing an additional 5,783 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in shares of Delek US in the third quarter valued at $2,686,000. Finally, UBS Group AG raised its stake in shares of Delek US by 3.6% in the third quarter. UBS Group AG now owns 719,310 shares of the oil and gas company’s stock valued at $20,436,000 after purchasing an additional 24,695 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.

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Analyst Recommendations for Delek US (NYSE:DK)

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