Bank of America Begins Coverage on Delek US (NYSE:DK)

Equities research analysts at Bank of America assumed coverage on shares of Delek US (NYSE:DK) in a research report issued on Thursday, MarketBeat.com reports. The firm set an “underperform” rating and a $15.00 price target on the oil and gas company’s stock. Bank of America‘s target price points to a potential downside of 12.33% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Scotiabank dropped their price objective on Delek US from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. TD Cowen dropped their price objective on Delek US from $19.00 to $18.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley dropped their price objective on Delek US from $24.00 to $22.00 and set an “underweight” rating on the stock in a research note on Monday, September 16th. Piper Sandler dropped their price objective on Delek US from $25.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Finally, Wells Fargo & Company dropped their price objective on Delek US from $21.00 to $18.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 9th. Six research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Delek US has an average rating of “Hold” and an average target price of $22.00.

Delek US Price Performance

NYSE DK opened at $17.11 on Thursday. Delek US has a fifty-two week low of $17.02 and a fifty-two week high of $33.60. The stock’s 50-day moving average is $19.70 and its two-hundred day moving average is $23.79. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.98 and a quick ratio of 0.58. The firm has a market cap of $1.10 billion, a P/E ratio of -13.80 and a beta of 1.13.

Delek US (NYSE:DK) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.50. Delek US had a negative return on equity of 4.53% and a negative net margin of 0.69%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same period last year, the company earned $1.00 earnings per share. The business’s revenue was down 18.4% compared to the same quarter last year. On average, analysts anticipate that Delek US will post -3.79 earnings per share for the current fiscal year.

Insider Activity at Delek US

In related news, CEO Avigal Soreq acquired 5,651 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $20.42 per share, with a total value of $115,393.42. Following the completion of the acquisition, the chief executive officer now owns 188,881 shares of the company’s stock, valued at $3,856,950.02. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Delek US

A number of institutional investors have recently added to or reduced their stakes in DK. Quadrature Capital Ltd acquired a new stake in Delek US during the fourth quarter valued at approximately $406,000. Counterpoint Mutual Funds LLC acquired a new stake in Delek US during the first quarter valued at approximately $270,000. Diversified Trust Co boosted its holdings in Delek US by 15.7% during the first quarter. Diversified Trust Co now owns 10,824 shares of the oil and gas company’s stock valued at $333,000 after purchasing an additional 1,472 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Delek US in the 1st quarter worth approximately $172,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Delek US by 9.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 71,863 shares of the oil and gas company’s stock worth $2,209,000 after acquiring an additional 6,355 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

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.