Delek US (NYSE:DK) Price Target Lowered to $38.00 at JPMorgan Chase & Co.

Delek US (NYSE:DK) had its price objective lowered by analysts at JPMorgan Chase & Co. from $42.00 to $38.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 30.48% from the stock’s current price.

DK has been the topic of a number of other research reports. Wall Street Zen upgraded shares of Delek US from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. Cowen raised Delek US from a “sell” rating to a “hold” rating in a report on Friday, September 19th. Mizuho boosted their price objective on Delek US from $45.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Piper Sandler dropped their target price on Delek US from $47.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Delek US in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Delek US presently has an average rating of “Hold” and an average target price of $39.23.

Delek US Price Performance

Shares of DK stock traded down $1.03 during trading on Thursday, hitting $29.12. The company had a trading volume of 797,202 shares, compared to its average volume of 1,419,966. The stock’s 50-day moving average price is $34.73 and its 200 day moving average price is $30.74. The firm has a market capitalization of $1.75 billion, a P/E ratio of -3.57 and a beta of 0.81. The company has a debt-to-equity ratio of 7.12, a quick ratio of 0.58 and a current ratio of 0.86. Delek US has a one year low of $11.02 and a one year high of $43.50.

Delek US (NYSE:DK) last posted its quarterly earnings data on Friday, November 7th. The oil and gas company reported $7.13 earnings per share for the quarter, topping the consensus estimate of $0.28 by $6.85. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Delek US had a negative net margin of 4.83% and a negative return on equity of 56.40%. Delek US’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.45) earnings per share. Equities analysts expect that Delek US will post -5.5 EPS for the current fiscal year.

Insider Activity

In other news, EVP Reuven Spiegel sold 27,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $41.36, for a total transaction of $1,116,720.00. Following the completion of the sale, the executive vice president owned 23,020 shares in the company, valued at $952,107.20. The trade was a 53.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Robert G. Wright sold 2,303 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $40.43, for a total value of $93,110.29. Following the completion of the transaction, the executive vice president owned 38,966 shares in the company, valued at approximately $1,575,395.38. This represents a 5.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 59,354 shares of company stock worth $2,446,658 in the last three months. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Delek US

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its holdings in Delek US by 6,300.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,306,269 shares of the oil and gas company’s stock worth $42,153,000 after purchasing an additional 1,285,861 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Delek US by 113.5% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,601,777 shares of the oil and gas company’s stock valued at $33,926,000 after acquiring an additional 851,458 shares during the period. Voloridge Investment Management LLC purchased a new position in Delek US during the third quarter valued at approximately $23,308,000. BNP Paribas Financial Markets increased its holdings in Delek US by 345.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 613,085 shares of the oil and gas company’s stock worth $19,784,000 after acquiring an additional 475,481 shares during the period. Finally, Barclays PLC lifted its stake in Delek US by 29.4% in the 3rd quarter. Barclays PLC now owns 1,873,578 shares of the oil and gas company’s stock worth $60,460,000 after purchasing an additional 425,896 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

About Delek US

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.