Wall Street Zen upgraded shares of Delek US (NYSE:DK – Free Report) from a buy rating to a strong-buy rating in a report released on Sunday.
Several other analysts also recently issued reports on DK. TD Cowen increased their price objective on shares of Delek US from $58.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Zacks Research raised shares of Delek US from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 26th. Mizuho upped their target price on shares of Delek US from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Weiss Ratings raised shares of Delek US from a “sell (d+)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Delek US from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $52.38.
Get Our Latest Report on Delek US
Delek US Price Performance
Delek US (NYSE:DK – Get Free Report) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 EPS for the quarter, beating the consensus estimate of $2.67 by $2.81. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.44 billion. Delek US had a return on equity of 109.03% and a net margin of 1.86%.The company’s revenue was up 47.9% on a year-over-year basis. During the same period last year, the business posted ($0.56) EPS. On average, equities analysts anticipate that Delek US will post 9.03 EPS for the current fiscal year.
Delek US Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, August 3rd. Delek US’s dividend payout ratio (DPR) is 28.65%.
Insiders Place Their Bets
In other news, Director William J. Finnerty sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $51.50, for a total transaction of $257,500.00. Following the completion of the sale, the director owned 34,805 shares of the company’s stock, valued at approximately $1,792,457.50. This trade represents a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky Sutil sold 1,871 shares of Delek US stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $48.00, for a total transaction of $89,808.00. Following the completion of the sale, the director owned 29,368 shares of the company’s stock, valued at approximately $1,409,664. This trade represents a 5.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,550 shares of company stock valued at $1,324,128 over the last 90 days. 3.56% of the stock is owned by company insiders.
Institutional Investors Weigh In On Delek US
Several hedge funds and other institutional investors have recently modified their holdings of DK. Caitong International Asset Management Co. Ltd lifted its position in shares of Delek US by 95.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 432 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in Delek US in the third quarter worth about $27,000. EverSource Wealth Advisors LLC increased its holdings in Delek US by 173.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 614 shares during the last quarter. Allworth Financial LP bought a new stake in Delek US in the second quarter valued at about $30,000. Finally, Torren Management LLC acquired a new stake in Delek US during the fourth quarter valued at approximately $40,000. 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.
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