Delek US (NYSE:DK) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Delek US (NYSE:DK) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

DK has been the subject of a number of other research reports. Citigroup lifted their price objective on shares of Delek US from $33.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, April 13th. Weiss Ratings lowered shares of Delek US from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. raised their target price on Delek US from $57.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. UBS Group lifted their price target on Delek US from $42.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. Finally, Morgan Stanley upped their price target on Delek US from $41.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Delek US currently has a consensus rating of “Hold” and a consensus target price of $51.92.

Delek US Stock Performance

DK opened at $65.92 on Friday. The firm has a fifty day moving average price of $52.88 and a 200 day moving average price of $43.97. Delek US has a 1 year low of $19.81 and a 1 year high of $68.93. The stock has a market cap of $4.04 billion, a P/E ratio of -72.44, a P/E/G ratio of 1.79 and a beta of 0.58. The company has a debt-to-equity ratio of 10.51, a current ratio of 0.76 and a quick ratio of 0.49.

Delek US Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be given a dividend of $0.255 per share. The ex-dividend date is Monday, August 3rd. This represents a $1.02 dividend on an annualized basis and a yield of 1.5%. Delek US’s dividend payout ratio is currently -112.09%.

Insider Buying and Selling at Delek US

In other news, EVP Robert G. Wright sold 10,720 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $47.07, for a total transaction of $504,590.40. Following the completion of the sale, the executive vice president owned 48,148 shares of the company’s stock, valued at $2,266,326.36. The trade was a 18.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Reuven Spiegel sold 10,000 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $44.36, for a total transaction of $443,600.00. Following the sale, the executive vice president directly owned 48,372 shares of the company’s stock, valued at $2,145,781.92. This represents a 17.13% decrease in their position. 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. Over the last quarter, insiders sold 39,270 shares of company stock valued at $1,828,718. Insiders own 3.56% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DK. Royal Bank of Canada raised its holdings in shares of Delek US by 18.4% during the first quarter. Royal Bank of Canada now owns 278,774 shares of the oil and gas company’s stock valued at $4,201,000 after acquiring an additional 43,379 shares during the last quarter. AQR Capital Management LLC acquired a new stake in Delek US during the 1st quarter worth $390,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Delek US by 3.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,190 shares of the oil and gas company’s stock worth $560,000 after purchasing an additional 1,102 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Delek US by 3,979.8% during the first quarter. Jones Financial Companies Lllp now owns 20,399 shares of the oil and gas company’s stock worth $307,000 after buying an additional 19,899 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Delek US by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,871 shares of the oil and gas company’s stock worth $2,213,000 after buying an additional 9,827 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

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.