Zacks Investment Research downgraded shares of Delek US (NYSE:DK) from a strong-buy rating to a hold rating in a report released on Tuesday morning.
According to Zacks, “DELEK US HOLDINGS, INC. is a diversified energy business focused on petroleum refining, marketing and supply of refined products, and retail marketing of fuel and general merchandise. “
DK has been the subject of a number of other reports. Deutsche Bank upped their target price on Delek US from $43.00 to $46.00 and gave the stock a hold rating in a research report on Monday. Citigroup upped their target price on Delek US from $35.00 to $41.00 and gave the stock a neutral rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. restated a neutral rating and issued a $43.00 target price (up from $41.00) on shares of Delek US in a research report on Tuesday, March 13th. Morgan Stanley upgraded Delek US from an equal weight rating to an overweight rating and set a $44.00 target price for the company in a research report on Thursday, January 11th. Finally, Scotiabank restated a buy rating and issued a $43.00 target price on shares of Delek US in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $38.00.
Delek US (NYSE DK) opened at $38.46 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $3,137.74, a P/E ratio of 11.25, a PEG ratio of 1.54 and a beta of 1.63. Delek US has a 52-week low of $20.65 and a 52-week high of $39.43.
Delek US (NYSE:DK) last issued its quarterly earnings data on Monday, February 26th. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.10. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.10 billion. Delek US had a return on equity of 5.99% and a net margin of 3.99%. The business’s revenue was up 129.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.44) earnings per share. research analysts anticipate that Delek US will post 2.42 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Monday, March 12th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 9th. This represents a $0.80 annualized dividend and a dividend yield of 2.08%. This is a boost from Delek US’s previous quarterly dividend of $0.15. Delek US’s dividend payout ratio is currently 23.39%.
Delek US declared that its board has initiated a stock buyback plan on Monday, February 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
In other Delek US news, EVP Avigal Soreq sold 3,091 shares of the company’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $36.00, for a total value of $111,276.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anthony L. Miller sold 1,118 shares of the company’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $36.87, for a total value of $41,220.66. The disclosure for this sale can be found here. Insiders sold 270,109 shares of company stock worth $10,022,256 in the last ninety days. 1.61% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. ETRADE Capital Management LLC raised its stake in Delek US by 21.6% during the 4th quarter. ETRADE Capital Management LLC now owns 9,759 shares of the oil and gas company’s stock valued at $341,000 after purchasing an additional 1,731 shares during the period. Amalgamated Bank raised its stake in Delek US by 24.0% during the 3rd quarter. Amalgamated Bank now owns 9,694 shares of the oil and gas company’s stock valued at $259,000 after purchasing an additional 1,875 shares during the period. Boston Advisors LLC raised its stake in Delek US by 1.3% during the 4th quarter. Boston Advisors LLC now owns 153,920 shares of the oil and gas company’s stock valued at $5,378,000 after purchasing an additional 1,970 shares during the period. Piedmont Investment Advisors LLC raised its stake in Delek US by 5.9% during the 3rd quarter. Piedmont Investment Advisors LLC now owns 38,750 shares of the oil and gas company’s stock valued at $1,036,000 after purchasing an additional 2,151 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in Delek US by 194.4% during the 4th quarter. Meeder Asset Management Inc. now owns 3,286 shares of the oil and gas company’s stock valued at $115,000 after purchasing an additional 2,170 shares during the period. 91.07% of the stock is currently owned by institutional investors.
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Delek US Company Profile
Delek US Holdings, Inc is a diversified downstream energy company. The Company has a broad platform consisting of refining, logistics, retail and wholesale marketing, renewables and asphalt operations. It operates through five segments: refining, logistics, asphalt, renewable and retail. Its refining assets consist of refineries operated in Tyler and Big Spring, Texas, El Dorado, Arkansas and Krotz Springs, Louisiana with a combined nameplate crude throughput capacity of 302,000 barrels per day.
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