Delek US (DK) Raised to “Strong-Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Delek US (NYSE:DK) from a hold rating to a strong-buy rating in a research note published on Thursday. The brokerage currently has $38.00 price target 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. “
Several other research analysts have also recently weighed in on the company. Bank of America cut Delek US from a neutral rating to an underperform rating and set a $34.00 price objective for the company. in a research report on Friday, December 8th. Wells Fargo & Company reiterated a positive rating on shares of Delek US in a report on Thursday, November 23rd. Tudor Pickering upgraded Delek US from a hold rating to a buy rating in a report on Friday, November 17th. Raymond James Financial upgraded Delek US from an outperform rating to a strong-buy rating and upped their target price for the stock from $32.00 to $35.00 in a report on Monday, November 13th. Finally, Cowen reiterated a buy rating and set a $33.00 target price on shares of Delek US in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $31.67.
Delek US (DK) opened at $32.54 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.06 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $2,650.45, a PE ratio of 250.31, a PEG ratio of 3.79 and a beta of 2.02. Delek US has a 52-week low of $20.65 and a 52-week high of $33.74.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Wednesday, November 22nd were paid a $0.15 dividend. The ex-dividend date was Tuesday, November 21st. This represents a $0.60 annualized dividend and a yield of 1.84%. Delek US’s dividend payout ratio is 37.97%.
In other news, Director David Wiessman sold 84,121 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $33.07, for a total transaction of $2,781,881.47. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Frederec Green sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $28.00, for a total value of $280,000.00. The disclosure for this sale can be found here. Insiders sold 195,631 shares of company stock worth $6,333,903 in the last 90 days. Corporate insiders own 1.61% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board increased its stake in shares of Delek US by 51.5% during the second quarter. Canada Pension Plan Investment Board now owns 242,900 shares of the oil and gas company’s stock worth $6,422,000 after purchasing an additional 82,600 shares during the period. Ameriprise Financial Inc. bought a new position in shares of Delek US during the second quarter worth approximately $2,572,000. Strs Ohio bought a new position in shares of Delek US during the third quarter worth approximately $1,200,000. BNP Paribas Arbitrage SA increased its stake in shares of Delek US by 65.5% during the second quarter. BNP Paribas Arbitrage SA now owns 15,068 shares of the oil and gas company’s stock worth $398,000 after purchasing an additional 5,966 shares during the period. Finally, Boston Advisors LLC increased its stake in shares of Delek US by 10.2% during the third quarter. Boston Advisors LLC now owns 151,950 shares of the oil and gas company’s stock worth $4,062,000 after purchasing an additional 14,070 shares during the period. Institutional investors own 93.24% of the company’s stock.
About Delek US
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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