Delek US (NYSE:DK) Upgraded to “Buy” at Freedom Broker

Delek US (NYSE:DK) was upgraded by equities researchers at Freedom Broker from a “hold” rating to a “buy” rating in a research report issued on Wednesday, FinViz reports. The firm presently has a $88.00 price target on the oil and gas company’s stock, up from their prior price target of $86.00. Freedom Broker‘s price target indicates a potential upside of 40.36% from the company’s current price.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group boosted their target price on Delek US from $83.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, October 15th. Wells Fargo & Company raised their price target on Delek US from $82.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 14th. Raymond James Financial reaffirmed an “outperform” rating and set a $95.00 price objective on shares of Delek US in a research note on Friday. Morgan Stanley boosted their price objective on shares of Delek US from $45.00 to $81.00 and gave the company an “equal weight” rating in a research report on Monday, September 14th. Finally, Weiss Ratings raised shares of Delek US from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Delek US currently has an average rating of “Moderate Buy” and an average target price of $77.75.

Delek US Trading Down 3.5%

DK opened at $62.70 on Wednesday. The firm has a market cap of $3.80 billion, a P/E ratio of 3.33, a P/E/G ratio of 0.47 and a beta of 0.61. Delek US has a 12 month low of $25.85 and a 12 month high of $82.27. The company has a current ratio of 1.33, a quick ratio of 0.92 and a debt-to-equity ratio of 2.03. The stock has a 50-day moving average of $73.31 and a 200 day moving average of $54.11.

Delek US (NYSE:DK) last issued its quarterly earnings data on Friday, November 6th. The oil and gas company reported $13.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.05 by $5.50. The business had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $3.88 billion. Delek US had a return on equity of 140.39% and a net margin of 8.70%. The company’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same period in the prior year, the business posted $7.13 earnings per share. As a group, research analysts forecast that Delek US will post 18.62 EPS for the current year.

Insider Activity at Delek US

In other Delek US news, CEO Avigal Soreq sold 80,000 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $66.51, for a total value of $5,320,800.00. Following the sale, the chief executive officer owned 231,486 shares in the company, valued at $15,396,133.86. This trade represents a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Hobbs sold 20,000 shares of Delek US stock in a transaction on Monday, August 17th. The stock was sold at an average price of $64.59, for a total value of $1,291,800.00. Following the sale, the executive vice president owned 104,326 shares of the company’s stock, valued at approximately $6,738,416.34. This trade represents a 16.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 163,377 shares of company stock worth $11,082,485 over the last quarter. 3.56% of the stock is owned by insiders.

Institutional Investors Weigh In On Delek US

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DK. BlackRock Inc. bought a new position in Delek US in the 2nd quarter worth about $275,233,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Delek US by 26.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,596,093 shares of the oil and gas company’s stock valued at $71,936,000 after purchasing an additional 335,892 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Delek US by 19.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,136,720 shares of the oil and gas company’s stock worth $51,232,000 after purchasing an additional 181,820 shares in the last quarter. Bank of America Corp DE grew its stake in Delek US by 118.0% in the first quarter. Bank of America Corp DE now owns 846,204 shares of the oil and gas company’s stock worth $38,138,000 after purchasing an additional 458,004 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Delek US during the 2nd quarter worth $22,987,000. Institutional investors own 97.01% of the company’s stock.

About Delek US

Delek US Holdings, Inc. is an independent downstream energy company focused on petroleum refining and related logistics in the southern United States. Its refining operations are located in Texas, Arkansas and Louisiana, where it processes crude oil into transportation fuels and other petroleum products. Products from Delek US refineries include gasoline, diesel, jet fuel, asphalt and petroleum coke. The company also markets refined products to customers and operates midstream assets, including pipelines, terminals and storage facilities, through its subsidiary Delek Logistics Partners.