Zacks Investment Research upgraded shares of Delek US (NYSE:DK) from a hold rating to a buy rating in a report released on Wednesday morning. They currently have $52.00 price objective on the oil and gas company’s stock.
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. “
Other research analysts have also recently issued research reports about the stock. Scotiabank reiterated a buy rating and set a $43.00 price objective on shares of Delek US in a research report on Wednesday, January 10th. Royal Bank of Canada reiterated a buy rating and set a $41.00 price objective on shares of Delek US in a research report on Tuesday, January 30th. Citigroup boosted their price objective on shares of Delek US from $35.00 to $41.00 and gave the company a neutral rating in a research report on Wednesday, January 24th. Deutsche Bank boosted their price objective on shares of Delek US from $43.00 to $46.00 and gave the company a hold rating in a research report on Monday, March 19th. Finally, Morgan Stanley boosted their price objective on shares of Delek US from $44.00 to $53.00 and gave the company a buy rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $41.40.
DK stock opened at $46.62 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.45. Delek US has a twelve month low of $20.65 and a twelve month high of $47.18. The firm has a market cap of $3,882.94, a price-to-earnings ratio of 37.00, a PEG ratio of 1.58 and a beta of 1.44.
Delek US (NYSE:DK) last posted its quarterly earnings data on Monday, February 26th. The oil and gas company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.10. Delek US had a net margin of 3.99% and a return on equity of 5.99%. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the business posted ($0.44) earnings per share. The business’s revenue was up 129.0% compared to the same quarter last year. analysts anticipate that Delek US will post 2.92 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Monday, March 12th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, March 9th. This is a boost from Delek US’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.72%. Delek US’s dividend payout ratio is presently 63.49%.
Delek US declared that its board has approved a share buyback program 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 purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In related news, insider Anthony L. Miller sold 1,118 shares of the company’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $36.87, for a total value of $41,220.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William J. Finnerty sold 6,000 shares of the company’s stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $45.47, for a total transaction of $272,820.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 216,109 shares of company stock worth $8,105,076. Company insiders own 1.40% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Delek US by 3.1% in the fourth quarter. BlackRock Inc. now owns 5,148,200 shares of the oil and gas company’s stock worth $179,880,000 after acquiring an additional 154,903 shares during the period. Goldman Sachs Group Inc. lifted its stake in Delek US by 73.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,963,259 shares of the oil and gas company’s stock worth $103,536,000 after acquiring an additional 1,258,853 shares during the period. TIAA CREF Investment Management LLC lifted its stake in Delek US by 0.4% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,893,620 shares of the oil and gas company’s stock worth $66,163,000 after acquiring an additional 7,330 shares during the period. Bank of New York Mellon Corp lifted its stake in Delek US by 21.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,396,175 shares of the oil and gas company’s stock worth $48,782,000 after acquiring an additional 246,572 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Delek US in the fourth quarter worth about $40,703,000. 91.08% of the stock is owned by institutional investors.
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Delek US Company Profile
Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company's Refining segment processes crude oil and other purchased feedstocks 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 terminals.
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