Delek US (NYSE:DK) Price Target Raised to $59.00
by Tristan Rich · The Markets DailyDelek US (NYSE:DK – Free Report) had its price objective boosted by Wells Fargo & Company from $54.00 to $59.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.
A number of other equities research analysts also recently commented on DK. TD Cowen lifted their price objective on Delek US from $28.00 to $44.00 and gave the company a “hold” rating in a research report on Thursday, March 5th. Citigroup decreased their price target on Delek US from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, January 26th. Mizuho lifted their price target on Delek US from $51.00 to $54.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. Scotiabank raised shares of Delek US to a “hold” rating in a research note on Friday, March 27th. Finally, Raymond James Financial increased their price objective on shares of Delek US from $47.00 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $41.46.
Get Our Latest Research Report on Delek US
Delek US Stock Up 1.6%
Shares of NYSE DK opened at $45.08 on Tuesday. Delek US has a 1 year low of $11.02 and a 1 year high of $48.32. The firm’s 50 day moving average price is $37.89 and its 200 day moving average price is $35.39. The firm has a market cap of $2.70 billion, a P/E ratio of -128.80, a price-to-earnings-growth ratio of 1.37 and a beta of 0.68. The company has a debt-to-equity ratio of 5.89, a quick ratio of 0.53 and a current ratio of 0.82.
Delek US (NYSE:DK – Get Free Report) last issued its quarterly earnings results on Friday, February 27th. The oil and gas company reported $0.44 earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.63. Delek US had a negative return on equity of 13.55% and a negative net margin of 0.21%.The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the firm posted ($2.54) EPS. Delek US’s revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Delek US will post -5.5 earnings per share for the current year.
Delek US Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, March 2nd were given a $0.255 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.02 annualized dividend and a dividend yield of 2.3%. Delek US’s dividend payout ratio is presently -291.43%.
Insiders Place Their Bets
In related news, CEO Avigal Soreq sold 50,000 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $41.08, for a total value of $2,054,000.00. Following the completion of the sale, the chief executive officer directly owned 251,678 shares in the company, valued at approximately $10,338,932.24. This represents a 16.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shlomo Zohar sold 22,029 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $44.83, for a total value of $987,560.07. Following the completion of the transaction, the director directly owned 18,989 shares in the company, valued at $851,276.87. This trade represents a 53.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 172,095 shares of company stock worth $7,257,409. 3.56% of the stock is owned by company insiders.
Institutional Investors Weigh In On Delek US
Several institutional investors and hedge funds have recently modified their holdings of DK. Royal Bank of Canada lifted its position in Delek US by 18.4% during 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 acquiring an additional 43,379 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Delek US in the first quarter valued at approximately $390,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Delek US by 3.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,190 shares of the oil and gas company’s stock valued at $560,000 after purchasing an additional 1,102 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Delek US by 3,979.8% during the first quarter. Jones Financial Companies Lllp now owns 20,399 shares of the oil and gas company’s stock valued at $307,000 after purchasing an additional 19,899 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Delek US by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,871 shares of the oil and gas company’s stock worth $2,213,000 after purchasing an additional 9,827 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.
Delek US Company Profile
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.