Delek US (NYSE:DK) Shares Gap Down on Analyst Downgrade

Shares of Delek US Holdings, Inc. (NYSE:DK) gapped down prior to trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $42.00 to $38.00. The stock had previously closed at $30.15, but opened at $29.17. JPMorgan Chase & Co. currently has a neutral rating on the stock. Delek US shares last traded at $29.2320, with a volume of 179,454 shares traded.

A number of other research firms have also recently weighed in on DK. Cowen raised Delek US from a “sell” rating to a “hold” rating in a report on Friday, September 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Delek US in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Delek US from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. Mizuho upped their price objective on shares of Delek US from $45.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Finally, The Goldman Sachs Group lifted their target price on shares of Delek US from $28.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Delek US presently has a consensus rating of “Hold” and a consensus price target of $38.77.

Insiders Place Their Bets

In other news, EVP Joseph Israel sold 20,028 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $41.12, for a total value of $823,551.36. Following the completion of the sale, the executive vice president directly owned 62,793 shares in the company, valued at $2,582,048.16. This represents a 24.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert G. Wright sold 5,643 shares of Delek US stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $41.46, for a total value of $233,958.78. Following the transaction, the executive vice president owned 41,269 shares in the company, valued at approximately $1,711,012.74. The trade was a 12.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 59,354 shares of company stock valued at $2,446,658 in the last ninety days. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DK. KLP Kapitalforvaltning AS grew its stake in Delek US by 64.3% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 25,050 shares of the oil and gas company’s stock worth $531,000 after purchasing an additional 9,800 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Delek US in the second quarter valued at approximately $1,089,000. Y Intercept Hong Kong Ltd purchased a new position in Delek US in the second quarter worth approximately $454,000. Squarepoint Ops LLC acquired a new position in Delek US during the 2nd quarter worth approximately $1,066,000. Finally, TD Asset Management Inc increased its position in shares of Delek US by 172.3% in the 2nd quarter. TD Asset Management Inc now owns 41,514 shares of the oil and gas company’s stock valued at $879,000 after purchasing an additional 26,268 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Delek US Trading Down 4.7%

The company has a debt-to-equity ratio of 7.12, a quick ratio of 0.58 and a current ratio of 0.86. The company’s 50-day moving average price is $34.25 and its 200-day moving average price is $30.77. The firm has a market capitalization of $1.66 billion, a PE ratio of -3.39 and a beta of 0.81.

Delek US (NYSE:DK) last posted its quarterly earnings results on Friday, November 7th. The oil and gas company reported $7.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $6.85. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Delek US had a negative return on equity of 56.40% and a negative net margin of 4.83%.Delek US’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm earned ($1.45) earnings per share. On average, sell-side analysts expect that Delek US Holdings, Inc. will post -5.5 earnings per share for the current year.

Delek US Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, November 10th were issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Monday, November 10th. Delek US’s dividend payout ratio is -12.50%.

Delek US Company Profile

Delek US Holdings, Inc (NYSE: DK) is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.