Wells Fargo & Company Lowers Delek US (NYSE:DK) Price Target to $16.00

Delek US (NYSE:DK) had its price target reduced by Wells Fargo & Company from $18.00 to $16.00 in a research report report published on Monday morning,Benzinga reports. They currently have an underweight rating on the oil and gas company’s stock.

Several other equities research analysts have also recently commented on the company. Morgan Stanley lowered their price target on Delek US from $24.00 to $22.00 and set an “underweight” rating for the company in a research note on Monday, September 16th. StockNews.com lowered shares of Delek US from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Piper Sandler reduced their price objective on shares of Delek US from $25.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. JPMorgan Chase & Co. lowered their target price on shares of Delek US from $26.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Finally, Scotiabank reduced their price target on Delek US from $25.00 to $22.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Six investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, Delek US has an average rating of “Hold” and an average target price of $21.10.

Delek US Stock Performance

DK stock opened at $18.33 on Monday. The stock has a market cap of $1.16 billion, a P/E ratio of -3.77 and a beta of 1.22. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.67 and a current ratio of 1.04. The firm has a 50 day simple moving average of $18.13 and a 200 day simple moving average of $20.73. Delek US has a 52 week low of $15.36 and a 52 week high of $33.60.

Delek US (NYSE:DK) last posted its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($1.45) EPS for the quarter, beating the consensus estimate of ($1.71) by $0.26. Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same period in the previous year, the company posted $2.02 EPS. Delek US’s revenue was down 34.3% on a year-over-year basis. Research analysts anticipate that Delek US will post -4.4 earnings per share for the current fiscal year.

Delek US Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th were paid a $0.255 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $1.02 annualized dividend and a dividend yield of 5.57%. Delek US’s payout ratio is -20.99%.

Hedge Funds Weigh In On Delek US

Several large investors have recently bought and sold shares of the stock. Quarry LP bought a new stake in shares of Delek US during the second quarter valued at approximately $43,000. Farther Finance Advisors LLC raised its stake in shares of Delek US by 24.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 7,733 shares of the oil and gas company’s stock valued at $145,000 after buying an additional 1,508 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in shares of Delek US during the 3rd quarter worth about $193,000. Bailard Inc. acquired a new stake in shares of Delek US during the 2nd quarter valued at about $201,000. Finally, MQS Management LLC bought a new stake in Delek US in the third quarter valued at about $201,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.