Delek US (NYSE:DK) Reaches New 1-Year Low – Here’s Why

Delek US Holdings, Inc. (NYSE:DK) shares hit a new 52-week low on Monday . The company traded as low as $16.89 and last traded at $16.89, with a volume of 69648 shares trading hands. The stock had previously closed at $17.11.

Analyst Ratings Changes

DK has been the subject of a number of research reports. Morgan Stanley decreased their price target on shares of Delek US from $24.00 to $22.00 and set an “underweight” rating for the company in a research note on Monday, September 16th. Wolfe Research initiated coverage on Delek US in a research note on Thursday, July 18th. They issued an “underperform” rating and a $19.00 target price for the company. Mizuho raised Delek US from an “underperform” rating to a “neutral” rating and reduced their price target for the stock from $28.00 to $26.00 in a research note on Monday, September 16th. Piper Sandler lowered their price objective on Delek US from $25.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Finally, StockNews.com downgraded shares of Delek US from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. Six analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Delek US currently has an average rating of “Hold” and a consensus price target of $22.00.

Delek US Trading Up 1.8 %

The firm’s 50 day moving average price is $19.53 and its 200-day moving average price is $23.45. 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 stock has a market cap of $1.10 billion, a P/E ratio of -13.82 and a beta of 1.13.

Delek US (NYSE:DK) last released its quarterly earnings data 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 business had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Delek US had a negative return on equity of 4.53% and a negative net margin of 0.69%. The firm’s quarterly revenue was down 18.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 EPS. As a group, equities research analysts forecast that Delek US Holdings, Inc. will post -3.79 earnings per share for the current year.

Delek US Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 5.95%. This is an increase from Delek US’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, August 12th. Delek US’s dividend payout ratio (DPR) is presently -82.26%.

Insider Buying and Selling at Delek US

In related news, CEO Avigal Soreq purchased 5,651 shares of Delek US stock in a transaction dated Friday, August 9th. The stock was purchased at an average cost of $20.42 per share, for a total transaction of $115,393.42. Following the completion of the purchase, the chief executive officer now directly owns 188,881 shares of the company’s stock, valued at $3,856,950.02. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Delek US

Hedge funds have recently bought and sold shares of the company. Encompass Capital Advisors LLC purchased a new position in Delek US in the second quarter worth about $22,833,000. SIR Capital Management L.P. grew its position in Delek US by 37.2% during the second quarter. SIR Capital Management L.P. now owns 876,133 shares of the oil and gas company’s stock valued at $21,693,000 after buying an additional 237,734 shares during the period. Point72 Asset Management L.P. purchased a new stake in Delek US during the second quarter valued at approximately $19,806,000. International Assets Investment Management LLC raised its position in Delek US by 1,753.2% in the third quarter. International Assets Investment Management LLC now owns 648,507 shares of the oil and gas company’s stock worth $12,160,000 after acquiring an additional 613,514 shares during the period. Finally, Easterly Investment Partners LLC boosted its stake in shares of Delek US by 26.7% during the 2nd quarter. Easterly Investment Partners LLC now owns 457,536 shares of the oil and gas company’s stock worth $11,329,000 after acquiring an additional 96,531 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Delek US Company Profile

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.