Delek US (NYSE:DK) Now Covered by Analysts at Bank of America

Bank of America assumed coverage on shares of Delek US (NYSE:DK - Free Report) in a research report released on Thursday morning, Marketbeat.com reports. The brokerage issued an underperform rating and a $15.00 target price on the oil and gas company's stock.

Several other analysts also recently weighed in on the company. Wells Fargo & Company dropped their price objective on Delek US from $21.00 to $18.00 and set an "underweight" rating for the company in a research report on Wednesday, October 9th. Wolfe Research began coverage on Delek US in a research report on Thursday, July 18th. They set an "underperform" rating and a $19.00 price objective for the company. Mizuho upgraded Delek US from an "underperform" rating to a "neutral" rating and dropped their target price for the company from $28.00 to $26.00 in a research report on Monday, September 16th. Morgan Stanley dropped their target price on Delek US from $24.00 to $22.00 and set an "underweight" rating for the company in a research report on Monday, September 16th. Finally, TD Cowen dropped their target price on Delek US from $19.00 to $18.00 and set a "sell" rating for the company in a research report on Thursday, August 8th. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Delek US presently has an average rating of "Hold" and a consensus price target of $22.00.

Delek US Price Performance

Shares of DK traded down $0.13 during trading hours on Thursday, hitting $17.35. 1,566,933 shares of the company were exchanged, compared to its average volume of 1,058,455. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -14.10 and a beta of 1.13. Delek US has a fifty-two week low of $17.11 and a fifty-two week high of $33.60. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 2.50. The firm's fifty day moving average is $19.83 and its 200 day moving average is $23.93.

Delek US (NYSE:DK - Get Free Report) last released its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $0.50. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.31 billion. Delek US had a negative return on equity of 4.53% and a negative net margin of 0.69%. Delek US'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. On average, equities analysts anticipate that Delek US will post -3.79 earnings per share for the current fiscal year.

Delek US Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.88%. This is an increase from Delek US's previous quarterly dividend of $0.20. The ex-dividend date was Monday, August 12th. Delek US's dividend payout ratio (DPR) is -82.26%.

Insider Transactions at Delek US

In other Delek US news, CEO Avigal Soreq bought 5,651 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $20.42 per share, with a total value 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 approximately $3,856,950.02. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Delek US

Several large investors have recently added to or reduced their stakes in DK. Quarry LP acquired a new stake in Delek US in the second quarter valued at approximately $43,000. Allspring Global Investments Holdings LLC acquired a new stake in Delek US in the first quarter valued at approximately $172,000. Bailard Inc. acquired a new stake in Delek US in the second quarter valued at approximately $201,000. Chesapeake Capital Corp IL acquired a new stake in Delek US in the second quarter valued at approximately $223,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Delek US in the second quarter valued at approximately $223,000. Institutional investors and hedge funds own 97.01% of the company's stock.

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.