Delek US (NYSE:DK) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Delek US (NYSE:DK) from an underweight rating to a neutral rating in a research note published on Tuesday morning, Marketbeat.com reports. They currently have $26.00 price target on the oil and gas company’s stock, up from their previous price target of $23.00.

A number of other research analysts also recently issued reports on the company. TD Cowen decreased their price objective on Delek US from $19.00 to $18.00 and set a sell rating for the company in a report on Thursday, August 8th. Piper Sandler lowered their price objective on shares of Delek US from $30.00 to $25.00 and set a neutral rating on the stock in a report on Friday, June 14th. StockNews.com cut shares of Delek US from a hold rating to a sell rating in a report on Thursday, September 5th. Mizuho decreased their target price on shares of Delek US from $31.00 to $27.00 and set an underperform rating for the company in a research report on Thursday, June 20th. Finally, Scotiabank cut their price target on shares of Delek US from $27.00 to $25.00 and set a sector perform rating on the stock in a research report on Friday, July 12th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Delek US presently has an average rating of Hold and an average target price of $25.70.

Delek US Price Performance

Shares of DK stock opened at $19.41 on Tuesday. Delek US has a 1 year low of $18.35 and a 1 year high of $33.60. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 2.50. The firm’s 50 day moving average is $21.25 and its 200-day moving average is $25.35. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -15.65 and a beta of 1.14.

Delek US (NYSE:DK) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.50. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.31 billion. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. The company’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.00 EPS. Sell-side analysts forecast that Delek US will post -2.87 EPS for the current fiscal year.

Delek US Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were paid a $0.255 dividend. The ex-dividend date of this dividend was Monday, August 12th. This is an increase from Delek US’s previous quarterly dividend of $0.20. This represents a $1.02 annualized dividend and a dividend yield of 5.26%. Delek US’s dividend payout ratio is -82.26%.

Insider Buying and Selling at Delek US

In other news, CEO Avigal Soreq bought 5,651 shares of the company’s stock in a transaction on Friday, August 9th. The shares were purchased at an average price of $20.42 per share, with a total value of $115,393.42. Following the transaction, the chief executive officer now directly owns 188,881 shares in the company, valued at $3,856,950.02. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Delek US

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. bought a new stake in Delek US during the 2nd quarter worth approximately $19,806,000. Quarry LP purchased a new position in shares of Delek US during the 2nd quarter valued at $43,000. Creative Planning increased its holdings in shares of Delek US by 126.8% in the second quarter. Creative Planning now owns 19,135 shares of the oil and gas company’s stock worth $474,000 after purchasing an additional 10,697 shares during the period. Algert Global LLC increased its holdings in shares of Delek US by 71.5% in the second quarter. Algert Global LLC now owns 140,623 shares of the oil and gas company’s stock worth $3,482,000 after purchasing an additional 58,627 shares during the period. Finally, Susquehanna Fundamental Investments LLC raised its position in shares of Delek US by 87.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 125,493 shares of the oil and gas company’s stock worth $3,107,000 after buying an additional 58,394 shares in the last quarter. Institutional investors 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.