Delek US Holdings, Inc. (DK) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Delek US Holdings, Inc. (NYSE:DK) from a hold rating to a buy rating in a research note issued to investors on Thursday. They currently have $31.00 price objective 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 also recently commented on DK. Wolfe Research upgraded shares of Delek US Holdings from a market perform rating to an outperform rating in a report on Tuesday, July 25th. BidaskClub downgraded shares of Delek US Holdings from a buy rating to a hold rating in a report on Tuesday, August 1st. Scotiabank set a $26.00 price objective on shares of Delek US Holdings and gave the company a hold rating in a report on Thursday, August 3rd. Cowen and Company restated a buy rating and set a $30.00 price objective on shares of Delek US Holdings in a report on Thursday, August 17th. Finally, Royal Bank Of Canada restated a buy rating and set a $32.00 price objective on shares of Delek US Holdings in a report on Friday, September 8th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $30.83.
Shares of Delek US Holdings (DK) traded up $1.12 during trading on Thursday, reaching $29.71. 1,912,918 shares of the company’s stock were exchanged, compared to its average volume of 1,021,854. The company has a market capitalization of $2,270.00, a P/E ratio of 215.00, a PEG ratio of 4.37 and a beta of 1.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.49 and a quick ratio of 1.06. Delek US Holdings has a fifty-two week low of $18.99 and a fifty-two week high of $29.77.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 22nd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $0.60 annualized dividend and a yield of 2.02%. Delek US Holdings’s dividend payout ratio (DPR) is presently 7.19%.
In other Delek US Holdings news, COO Frederec Green sold 10,000 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel L. Gordon sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $26.16, for a total value 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 disclosure for this sale can be found here. In the last quarter, insiders sold 37,527 shares of company stock worth $1,034,580. 1.61% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board boosted its position in Delek US Holdings by 51.5% in the 2nd 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 in the last quarter. BNP Paribas Arbitrage SA boosted its position in Delek US Holdings by 65.5% in the 2nd 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 in the last quarter. Ameriprise Financial Inc. purchased a new stake in Delek US Holdings in the 2nd quarter worth approximately $2,572,000. Tudor Investment Corp ET AL boosted its position in Delek US Holdings by 15.6% in the 1st quarter. Tudor Investment Corp ET AL now owns 12,342 shares of the oil and gas company’s stock worth $300,000 after purchasing an additional 1,666 shares in the last quarter. Finally, Strs Ohio purchased a new stake in Delek US Holdings in the 3rd quarter worth approximately $1,200,000. Institutional investors and hedge funds 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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