Zacks Investment Research upgraded shares of Delek US Holdings, Inc. (NYSE:DK) from a hold rating to a buy rating in a report published on Friday. The firm currently has $31.00 price target 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. “
Several other brokerages have also recently issued reports on DK. Wolfe Research upgraded Delek US Holdings from a market perform rating to an outperform rating in a research note on Tuesday, July 25th. Cowen and Company reiterated a buy rating and issued a $30.00 price objective on shares of Delek US Holdings in a research note on Tuesday, October 17th. Royal Bank Of Canada reiterated a buy rating and issued a $35.00 price objective on shares of Delek US Holdings in a research note on Wednesday, October 18th. Citigroup Inc. reiterated a hold rating and issued a $27.00 price objective (down from $29.00) on shares of Delek US Holdings in a research note on Wednesday, October 18th. Finally, BidaskClub cut Delek US Holdings from a buy rating to a hold rating in a research note on Tuesday, August 1st. Ten research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $30.00.
Shares of Delek US Holdings (NYSE:DK) opened at $27.23 on Friday. The stock has a market capitalization of $2,235.05, a price-to-earnings ratio of 211.08, a PEG ratio of 5.08 and a beta of 1.92. The company has a quick ratio of 1.06, a current ratio of 1.49 and a debt-to-equity ratio of 0.63. Delek US Holdings has a 52 week low of $17.31 and a 52 week high of $29.16.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 22nd will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Tuesday, November 21st. Delek US Holdings’s payout ratio is 37.97%.
In related news, insider Anthony L. Miller sold 1,509 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $26.28, for a total transaction of $39,656.52. Following the transaction, the insider now owns 11,370 shares of the company’s stock, valued at $298,803.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Frederec Green sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $28.00, for a total value of $280,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,527 shares of company stock worth $1,034,580. Corporate insiders own 1.61% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new position in shares of Delek US Holdings during the third quarter worth about $114,000. Hanseatic Management Services Inc. boosted its holdings in Delek US Holdings by 18,606.3% in the 3rd quarter. Hanseatic Management Services Inc. now owns 5,986 shares of the oil and gas company’s stock valued at $160,000 after purchasing an additional 5,954 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in Delek US Holdings by 51.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 7,112 shares of the oil and gas company’s stock valued at $188,000 after purchasing an additional 2,412 shares in the last quarter. Amalgamated Bank purchased a new stake in Delek US Holdings in the 2nd quarter valued at approximately $207,000. Finally, ETRADE Capital Management LLC purchased a new stake in Delek US Holdings in the 3rd quarter valued at approximately $215,000. 97.01% of the stock is currently owned by hedge funds and other institutional investors.
About Delek US Holdings
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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