Delek US (DK) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research lowered shares of Delek US (NYSE:DK) from a buy rating to a hold rating in a report released on Thursday morning.
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. “
A number of other research firms have also issued reports on DK. Citigroup upped their target price on shares of Delek US from $35.00 to $41.00 and gave the company a neutral rating in a report on Wednesday, January 24th. Morgan Stanley upgraded shares of Delek US from an equal weight rating to an overweight rating and set a $44.00 target price on the stock in a report on Thursday, January 11th. Scotiabank restated a buy rating and issued a $43.00 target price on shares of Delek US in a report on Wednesday, January 10th. Royal Bank of Canada restated a buy rating and issued a $41.00 target price on shares of Delek US in a report on Tuesday, January 30th. Finally, Howard Weil upgraded shares of Delek US from a sector perform rating to a focus list rating and upped their target price for the company from $26.00 to $41.00 in a report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $36.21.
Delek US (NYSE:DK) last released its earnings results on Wednesday, November 8th. The oil and gas company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.13. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.64 billion. Delek US had a net margin of 2.09% and a return on equity of 1.71%. equities research analysts predict that Delek US will post 0.98 earnings per share for the current year.
In other news, insider Donald Norman Holmes sold 4,476 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $32.74, for a total transaction of $146,544.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Frederec Green sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $38.00, for a total transaction of $950,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 225,631 shares of company stock valued at $7,683,903. Corporate insiders own 1.61% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. increased its position in Delek US by 194.4% during the 4th quarter. Meeder Asset Management Inc. now owns 3,286 shares of the oil and gas company’s stock worth $115,000 after purchasing an additional 2,170 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Delek US during the 3rd quarter worth approximately $114,000. Hanseatic Management Services Inc. increased its position in Delek US by 18,606.3% during the 3rd quarter. Hanseatic Management Services Inc. now owns 5,986 shares of the oil and gas company’s stock worth $160,000 after purchasing an additional 5,954 shares in the last quarter. Great West Life Assurance Co. Can increased its position in Delek US by 51.3% during the 3rd quarter. Great West Life Assurance Co. Can now owns 7,112 shares of the oil and gas company’s stock worth $188,000 after purchasing an additional 2,412 shares in the last quarter. Finally, Amalgamated Bank acquired a new stake in Delek US during the 2nd quarter worth approximately $207,000. 90.97% of the stock is owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Delek US Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delek US and related companies with MarketBeat.com's FREE daily email newsletter.