Delek US Holdings, Inc. (DK) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of Delek US Holdings, Inc. (NYSE:DK) from a buy rating to a hold rating in a research note published on Monday.
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 company. BidaskClub cut Delek US Holdings from a strong-buy rating to a buy rating in a research note on Sunday, July 16th. Royal Bank Of Canada reissued a buy rating and issued a $35.00 price objective on shares of Delek US Holdings in a research note on Wednesday, October 18th. Cowen and Company reissued a buy rating and issued a $30.00 price objective on shares of Delek US Holdings in a research note on Thursday, August 17th. Scotiabank reissued a hold rating and issued a $26.00 price objective on shares of Delek US Holdings in a research note on Friday, September 8th. Finally, Citigroup Inc. reissued a hold rating and issued a $27.00 price objective (down previously from $29.00) on shares of Delek US Holdings in a research note on Wednesday, October 18th. Ten investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $30.83.
Delek US Holdings (DK) opened at $27.87 on Monday. Delek US Holdings has a 52 week low of $18.25 and a 52 week high of $29.16. The stock has a market capitalization of $2,280.00, a P/E ratio of 209.46, a P/E/G ratio of 4.25 and a beta of 1.92. The company has a quick ratio of 1.06, a current ratio of 1.49 and a debt-to-equity ratio of 0.63.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 22nd will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, November 21st. This represents a $0.60 annualized dividend and a dividend yield of 2.15%. Delek US Holdings’s dividend payout ratio is presently 7.19%.
In other news, insider Daniel L. Gordon sold 1,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $26.16, for a total transaction of $26,160.00. Following the completion of the sale, the insider now owns 18,572 shares in the company, valued at approximately $485,843.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Anthony L. Miller sold 1,509 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $26.28, for a total value of $39,656.52. Following the sale, the insider now owns 11,370 shares of the company’s stock, valued at approximately $298,803.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,527 shares of company stock valued at $1,034,580. Company insiders own 1.61% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Delek US Holdings by 35.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 7,058,494 shares of the oil and gas company’s stock valued at $188,672,000 after purchasing an additional 1,833,630 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Delek US Holdings by 33.7% during the 2nd quarter. Vanguard Group Inc. now owns 6,958,487 shares of the oil and gas company’s stock valued at $183,982,000 after purchasing an additional 1,753,373 shares during the last quarter. FMR LLC raised its stake in Delek US Holdings by 24.9% in the 2nd quarter. FMR LLC now owns 4,248,836 shares of the oil and gas company’s stock worth $112,339,000 after acquiring an additional 846,855 shares during the last quarter. BlackRock Inc. raised its stake in Delek US Holdings by 1.3% in the 2nd quarter. BlackRock Inc. now owns 3,912,278 shares of the oil and gas company’s stock worth $103,441,000 after acquiring an additional 50,532 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Delek US Holdings by 8.8% in the 3rd quarter. Victory Capital Management Inc. now owns 2,881,870 shares of the oil and gas company’s stock worth $77,032,000 after acquiring an additional 232,100 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.
Delek US Holdings 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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