Delek US (NYSE:DK) Upgraded at Mizuho

Mizuho upgraded shares of Delek US (NYSE:DK) from a neutral rating to an outperform rating in a research report released on Tuesday morning, MarketBeat reports. Mizuho currently has $23.00 price objective on the oil and gas company’s stock, up from their prior price objective of $22.00.

DK has been the subject of several other reports. Morgan Stanley lowered their price objective on Delek US from $18.00 to $14.00 and set an “underweight” rating for the company in a research note on Thursday, April 24th. Scotiabank decreased their price target on Delek US from $24.00 to $14.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Piper Sandler decreased their price target on Delek US from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Raymond James decreased their price target on Delek US from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, UBS Group decreased their price target on Delek US from $21.00 to $13.25 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Delek US presently has a consensus rating of “Hold” and an average target price of $17.02.

Delek US Price Performance

NYSE:DK opened at $18.55 on Tuesday. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -3.82 and a beta of 0.74. Delek US has a 1 year low of $11.03 and a 1 year high of $28.91. The business has a 50 day simple moving average of $14.34 and a 200-day simple moving average of $16.63. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.04 and a quick ratio of 0.67.

Delek US (NYSE:DK) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported ($2.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.27) by ($0.05). The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.56 billion. Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. Delek US’s revenue for the quarter was down 18.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.41) earnings per share. Equities analysts forecast that Delek US will post -5.5 EPS for the current year.

Delek US Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 12th will be issued a dividend of $0.255 per share. The ex-dividend date is Monday, May 12th. This represents a $1.02 annualized dividend and a yield of 5.50%. Delek US’s payout ratio is currently -9.18%.

Insiders Place Their Bets

In related news, CFO Mark Wayne Hobbs purchased 2,800 shares of the business’s 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 acquisition, the chief financial officer now owns 49,138 shares of the company’s stock, valued at $673,190.60. The trade was a 6.04% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought 5,055 shares of company stock worth $70,787 in the last ninety days. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its position in shares of Delek US by 18.4% in the 1st quarter. Royal Bank of Canada now owns 278,774 shares of the oil and gas company’s stock worth $4,201,000 after purchasing an additional 43,379 shares in the last quarter. DRW Securities LLC lifted its position in Delek US by 17.8% during the 1st quarter. DRW Securities LLC now owns 199,702 shares of the oil and gas company’s stock worth $3,010,000 after acquiring an additional 30,145 shares during the period. State of Wyoming acquired a new stake in Delek US during the 1st quarter worth about $95,000. Callodine Capital Management LP lifted its position in Delek US by 1,827.6% during the 1st quarter. Callodine Capital Management LP now owns 674,661 shares of the oil and gas company’s stock worth $10,167,000 after acquiring an additional 639,661 shares during the period. Finally, Eisler Capital Management Ltd. acquired a new stake in Delek US during the 1st quarter worth about $172,000. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

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.