Delek US (NYSE:DK) Stock Rating Upgraded by TD Cowen

Key Points

• TD Cowen upgraded Delek US (NYSE:DK) from a "sell" to a "hold" rating with a new target price of $28.00, suggesting a potential downside of 12.66% from its current price.
• Delek US reported a quarterly earnings per share of ($0.56), exceeding estimates, although revenue declined 16.4% year-over-year.
• Institutional investors now hold 97.01% of Delek US's stock, showcasing increased interest and investment from larger financial entities.

TD Cowen upgraded shares of Delek US (NYSE:DK - Free Report) from a sell rating to a hold rating in a research note issued to investors on Friday, MarketBeat reports. They currently have $28.00 price target on the oil and gas company's stock, up from their previous price target of $15.00.

DK has been the subject of a number of other reports. Scotiabank reiterated a "sector perform" rating and issued a $20.00 target price (up from $14.00) on shares of Delek US in a report on Friday, July 11th. Bank of America lifted their price objective on Delek US from $14.00 to $24.00 and gave the company an "underperform" rating in a research note on Wednesday, September 3rd. UBS Group upped their target price on shares of Delek US from $24.00 to $29.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 2nd. Cowen reiterated a "sell" rating on shares of Delek US in a research note on Friday, August 8th. Finally, Wells Fargo & Company increased their price objective on shares of Delek US from $11.00 to $15.00 and gave the company an "underweight" rating in a research report on Wednesday, June 11th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $26.54.

Delek US Trading Up 3.5%

Shares of DK stock traded up $1.08 on Friday, hitting $32.38. The stock had a trading volume of 1,870,932 shares, compared to its average volume of 1,744,063. The company's 50 day moving average price is $25.54 and its 200-day moving average price is $20.13. Delek US has a 1 year low of $11.02 and a 1 year high of $32.76. The company has a debt-to-equity ratio of 10.48, a current ratio of 0.80 and a quick ratio of 0.50. The firm has a market capitalization of $1.95 billion, a P/E ratio of -2.63 and a beta of 1.09.

Delek US (NYSE:DK - Get Free Report) last released its earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.36. Delek US had a negative return on equity of 79.27% and a negative net margin of 7.11%.The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the previous year, the company posted ($0.92) EPS. Delek US's revenue was down 16.4% compared to the same quarter last year. Analysts anticipate that Delek US will post -5.5 earnings per share for the current year.

Delek US Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 11th were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 3.2%. The ex-dividend date was Monday, August 11th. Delek US's dividend payout ratio is currently -8.30%.

Insider Activity

In related news, CFO Robert G. Wright sold 7,135 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $29.24, for a total transaction of $208,627.40. Following the transaction, the chief financial officer owned 48,294 shares in the company, valued at $1,412,116.56. This trade represents a 12.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Delek US by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,088 shares of the oil and gas company's stock valued at $668,000 after acquiring an additional 1,227 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Delek US by 21.9% in the fourth quarter. Nuveen Asset Management LLC now owns 1,005,309 shares of the oil and gas company's stock valued at $18,598,000 after purchasing an additional 180,498 shares during the period. ProShare Advisors LLC raised its stake in shares of Delek US by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 17,857 shares of the oil and gas company's stock worth $330,000 after purchasing an additional 5,874 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Delek US during the fourth quarter worth $856,000. Finally, GTS Securities LLC purchased a new position in Delek US in the 4th quarter valued at $390,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.