Freedom Broker Initiates Coverage on Delek US (NYSE:DK)

Freedom Broker began coverage on shares of Delek US (NYSE:DK) in a report released on Wednesday, Benzinga reports. The brokerage set a “hold” rating and a $86.00 price target on the oil and gas company’s stock. Freedom Broker’s price objective points to a potential upside of 12.26% from the company’s current price.

A number of other analysts have also weighed in on DK. Wells Fargo & Company increased their price objective on shares of Delek US from $59.00 to $82.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. Wall Street Zen raised Delek US from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 9th. Morgan Stanley lifted their price objective on Delek US from $45.00 to $81.00 and gave the company an “equal weight” rating in a research note on Monday, September 14th. Weiss Ratings upgraded Delek US from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Finally, Mizuho boosted their price target on Delek US from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $68.58.

Delek US Trading Up 1.5%

Shares of Delek US stock opened at $76.61 on Wednesday. The company’s 50-day moving average price is $70.60 and its 200-day moving average price is $56.02. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 0.38 and a beta of 0.62. Delek US has a 12-month low of $25.85 and a 12-month high of $82.27. The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53.

Delek US (NYSE:DK) last posted its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $2.81. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.44 billion. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The business’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.56) EPS. On average, equities analysts expect that Delek US will post 15.54 earnings per share for the current fiscal year.

Insider Transactions at Delek US

In other Delek US news, EVP Reuven Spiegel sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $68.21, for a total value of $682,100.00. Following the sale, the executive vice president directly owned 36,435 shares of the company’s stock, valued at approximately $2,485,231.35. This represents a 21.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky Sutil sold 6,397 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $71.50, for a total value of $457,385.50. Following the sale, the director owned 26,407 shares of the company’s stock, valued at approximately $1,888,100.50. The trade was a 19.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 163,377 shares of company stock valued at $11,082,485 in the last 90 days. Insiders own 3.56% of the company’s stock.

Institutional Investors Weigh In On Delek US

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Delek US in the 2nd quarter worth about $275,233,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Delek US by 1,173.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 954,900 shares of the oil and gas company’s stock valued at $28,322,000 after purchasing an additional 879,900 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Delek US during the 2nd quarter worth about $37,664,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Delek US in the 2nd quarter valued at approximately $22,987,000. Finally, Bank of New York Mellon Corp acquired a new position in Delek US in the second quarter worth approximately $19,760,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

About Delek US

Delek US Holdings, Inc is an independent downstream energy company headquartered in Brentwood, Tennessee. The company operates petroleum refineries and related logistics assets, producing transportation fuels and other refined petroleum products for commercial and wholesale customers.

Delek’s refining operations have included facilities in the U.S. Gulf Coast and Mid-Continent regions, with assets in Texas, Arkansas and Louisiana. Its products may include gasoline, diesel, jet fuel, asphalt and other refined products.