Delek US (NYSE:DK) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Delek US (NYSE:DK) from a buy rating to a strong-buy rating in a research note published on Sunday.

DK has been the topic of several other research reports. The Goldman Sachs Group upped their price objective on shares of Delek US from $58.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Mizuho lifted their target price on shares of Delek US from $54.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Zacks Research raised Delek US from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 26th. Raymond James Financial upped their target price on Delek US from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Finally, Weiss Ratings raised Delek US from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Delek US has a consensus rating of “Hold” and an average target price of $51.92.

Delek US Trading Down 0.1%

Shares of DK stock opened at $58.38 on Friday. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 1.42 and a beta of 0.57. The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53. The firm has a 50-day moving average price of $54.24 and a 200 day moving average price of $44.87. Delek US has a twelve month low of $20.06 and a twelve month high of $68.93.

Delek US (NYSE:DK) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $2.81. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.44 billion. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period last year, the company earned ($0.56) EPS. Research analysts forecast that Delek US will post 9.03 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, August 3rd. Delek US’s dividend payout ratio is currently 28.65%.

Insider Buying and Selling

In other news, EVP Reuven Spiegel sold 10,000 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $44.36, for a total value of $443,600.00. Following the completion of the sale, the executive vice president owned 48,372 shares in the company, valued at approximately $2,145,781.92. This trade represents a 17.13% 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 link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J. Finnerty sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $51.50, for a total value of $257,500.00. Following the sale, the director owned 34,805 shares in the company, valued at approximately $1,792,457.50. The trade was a 12.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 39,270 shares of company stock valued at $1,828,718 over the last ninety days. Insiders own 3.56% of the company’s stock.

Hedge Funds Weigh In On Delek US

Institutional investors and hedge funds have recently bought and sold shares of the stock. Thoroughbred Financial Services LLC raised its holdings in shares of Delek US by 1.3% during the fourth quarter. Thoroughbred Financial Services LLC now owns 27,164 shares of the oil and gas company’s stock worth $805,000 after purchasing an additional 348 shares during the period. New York State Common Retirement Fund lifted its holdings in Delek US by 1.8% in the fourth quarter. New York State Common Retirement Fund now owns 22,048 shares of the oil and gas company’s stock worth $654,000 after acquiring an additional 400 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its stake in Delek US by 23.2% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,259 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 425 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Delek US by 95.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 432 shares during the period. Finally, Orion Porfolio Solutions LLC raised its position in shares of Delek US by 2.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 23,244 shares of the oil and gas company’s stock worth $492,000 after purchasing an additional 507 shares during the period. 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.