Delek US (NYSE:DK) Sets New 1-Year Low – What’s Next?

17 Oct 2024, 11:36 by Mitch Edgeman · The Markets Daily

Shares of Delek US Holdings, Inc. (NYSE:DK – Get Free Report) reached a new 52-week low during trading on Tuesday . The stock traded as low as $18.21 and last traded at $18.21, with a volume of 15139 shares changing hands. The stock had previously closed at $18.61.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DK. JPMorgan Chase & Co. decreased 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. StockNews.com lowered Delek US from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Wolfe Research started coverage on Delek US in a research report on Thursday, July 18th. They set an “underperform” rating and a $19.00 price target on the stock. Morgan Stanley lowered their price objective 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, Piper Sandler cut their target price on shares of Delek US from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Delek US has an average rating of “Hold” and an average price target of $23.55.

Read Our Latest Report on Delek US

Delek US Price Performance

The company has a market cap of $1.12 billion, a PE ratio of -14.10 and a beta of 1.13. The business has a 50 day moving average of $19.83 and a 200 day moving average of $23.93. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.98 and a quick ratio of 0.58.

Delek US (NYSE:DK – Get Free Report) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.50. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the previous year, the firm posted $1.00 EPS. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. As a group, research analysts predict that Delek US Holdings, Inc. will post -3.79 EPS for the current year.

Delek US Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were given a $0.255 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.02 annualized dividend and a dividend yield of 5.84%. This is a positive change from Delek US’s previous quarterly dividend of $0.20. Delek US’s dividend payout ratio is currently -82.26%.

Insider Activity

In other news, CEO Avigal Soreq acquired 5,651 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $20.42 per share, for a total transaction of $115,393.42. Following the completion of the acquisition, the chief executive officer now owns 188,881 shares in the company, valued at $3,856,950.02. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Delek US

A number of institutional investors and hedge funds have recently made changes to their positions in DK. Quarry LP purchased a new stake in shares of Delek US in the 2nd quarter worth approximately $43,000. Allspring Global Investments Holdings LLC bought a new position in shares of Delek US during the first quarter valued at $172,000. Bailard Inc. purchased a new position in shares of Delek US in the 2nd quarter worth about $201,000. Chesapeake Capital Corp IL bought a new position in Delek US in the 2nd quarter worth about $223,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Delek US during the 2nd quarter valued at about $223,000. Institutional investors own 97.01% of the company’s stock.

Delek US Company Profile

(Get Free Report)

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.