Delek US (NYSE:DK) Shares Down 2.4% – Time to Sell?

Delek US Holdings, Inc. (NYSE:DK) dropped 2.4% on Monday . The stock traded as low as $16.70 and last traded at $16.54. Approximately 86,014 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,135,258 shares. The stock had previously closed at $16.94.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DK. Piper Sandler lowered their price target on Delek US from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. JPMorgan Chase & Co. upped their target price on Delek US from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Mizuho reduced their target price on Delek US from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Wolfe Research raised shares of Delek US from an “underperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Morgan Stanley reduced their price objective on shares of Delek US from $19.00 to $18.00 and set an “underweight” rating for the company in a report on Friday, March 14th. Five equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.40.

Delek US Stock Down 1.0 %

The firm has a market capitalization of $995.83 million, a price-to-earnings ratio of -3.28 and a beta of 1.14. The firm has a fifty day moving average price of $17.28 and a 200 day moving average price of $17.91. The company has a current ratio of 1.04, a quick ratio of 0.67 and a debt-to-equity ratio of 3.18.

Delek US (NYSE:DK) last released its earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) EPS for the quarter, missing the consensus estimate of ($1.53) by ($1.01). Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the business posted ($1.46) earnings per share. The firm’s quarterly revenue was down 39.8% on a year-over-year basis. Sell-side analysts anticipate that Delek US Holdings, Inc. will post -5.5 EPS for the current fiscal year.

Delek US Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, March 3rd were given a dividend of $0.255 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.02 dividend on an annualized basis and a yield of 6.40%. Delek US’s payout ratio is presently -11.54%.

Insider Transactions at Delek US

In related news, CFO Mark Wayne Hobbs purchased 2,800 shares of Delek US stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $13.70 per share, for a total transaction of $38,360.00. Following the transaction, the chief financial officer now directly owns 49,138 shares of the company’s stock, valued at approximately $673,190.60. This trade represents a 6.04 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders acquired a total of 5,055 shares of company stock worth $70,787 in the last quarter. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Delek US

Several hedge funds have recently added to or reduced their stakes in the stock. Intech Investment Management LLC bought a new stake in shares of Delek US in the 3rd quarter valued at about $363,000. Charles Schwab Investment Management Inc. grew its holdings in Delek US by 10.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 721,790 shares of the oil and gas company’s stock valued at $13,534,000 after purchasing an additional 68,416 shares during the period. FMR LLC increased its stake in Delek US by 47.3% in the third quarter. FMR LLC now owns 1,707,773 shares of the oil and gas company’s stock valued at $32,021,000 after purchasing an additional 548,777 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Delek US by 92.3% in the third quarter. BNP Paribas Financial Markets now owns 188,020 shares of the oil and gas company’s stock valued at $3,525,000 after purchasing an additional 90,230 shares in the last quarter. Finally, Rubric Capital Management LP acquired a new stake in Delek US in the third quarter worth $37,500,000. Institutional investors and hedge funds 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.