Delek US (DK) Upgraded to “Strong-Buy” by 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 report report published on Tuesday. The firm currently has $39.00 target price 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. “
A number of other equities analysts have also issued reports on DK. Scotiabank reiterated a buy rating and issued a $43.00 target price on shares of Delek US in a research report on Wednesday, January 10th. Citigroup increased their target price on shares of Delek US from $35.00 to $41.00 and gave the company a neutral rating in a research 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 for the company in a research report on Thursday, January 11th. Cowen reiterated a buy rating and issued a $33.00 target price on shares of Delek US in a research report on Friday, November 10th. Finally, Howard Weil upgraded shares of Delek US from a sector perform rating to a focus list rating and increased their target price for the company from $26.00 to $41.00 in a research report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. Delek US currently has a consensus rating of Buy and an average target price of $36.36.
Delek US (NYSE:DK) last announced its earnings results on Monday, February 26th. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.10. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.10 billion. Delek US had a net margin of 3.99% and a return on equity of 6.64%. Delek US’s revenue was up 129.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.44) EPS. equities analysts forecast that Delek US will post 2.4 earnings per share for the current fiscal year.
Delek US declared that its board has authorized a stock buyback plan on Monday, February 26th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the oil and gas company to buy shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Monday, March 12th will be given a dividend of $0.20 per share. This is a positive change from Delek US’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, March 9th. This represents a $0.80 annualized dividend and a dividend yield of 2.29%. Delek US’s dividend payout ratio (DPR) is 17.54%.
In other Delek US news, insider Anthony L. Miller sold 1,155 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $32.79, for a total value of $37,872.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald Norman Holmes sold 4,476 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $32.74, for a total transaction of $146,544.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,510 shares of company stock valued at $4,582,022. Insiders own 1.61% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in DK. Quantbot Technologies LP acquired a new position in shares of Delek US in the third quarter worth about $114,000. Meeder Asset Management Inc. boosted its holdings in shares of Delek US by 194.4% in the fourth quarter. Meeder Asset Management Inc. now owns 3,286 shares of the oil and gas company’s stock worth $115,000 after buying an additional 2,170 shares during the period. Hanseatic Management Services Inc. boosted its holdings in shares of Delek US by 18,606.3% in the third quarter. Hanseatic Management Services Inc. now owns 5,986 shares of the oil and gas company’s stock worth $160,000 after buying an additional 5,954 shares during the period. Great West Life Assurance Co. Can boosted its holdings in shares of Delek US by 51.3% in the third quarter. Great West Life Assurance Co. Can now owns 7,112 shares of the oil and gas company’s stock worth $188,000 after buying an additional 2,412 shares during the period. Finally, ETRADE Capital Management LLC acquired a new position in shares of Delek US in the third quarter worth about $215,000. Institutional investors own 90.62% of the company’s stock.
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Delek US 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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