Delek US (NYSE:DK) Stock Rated “Hold” in New Coverage at Freedom Broker

by · The Markets Daily

Freedom Broker began coverage on shares of Delek US (NYSE:DK – Free Report) in a research report sent to investors on Wednesday,Benzinga reports. The firm issued a hold rating and a $86.00 price target on the oil and gas company’s stock.

A number of other analysts have also commented on DK. Morgan Stanley boosted their price objective on Delek US from $45.00 to $81.00 and gave the stock an “equal weight” rating in a report on Monday, September 14th. Weiss Ratings upgraded Delek US from a “sell (d+)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Wall Street Zen upgraded Delek US from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 9th. Wells Fargo & Company lifted their price objective on shares of Delek US from $59.00 to $82.00 and gave the stock an “overweight” rating in a report on Tuesday, September 1st. Finally, Raymond James Financial increased their target price on shares of Delek US from $72.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.58.

Get Our Latest Report on DK

Delek US Stock Performance

NYSE DK opened at $74.42 on Wednesday. The company has a market cap of $4.56 billion, a P/E ratio of 20.90, a PEG ratio of 0.39 and a beta of 0.62. The company has a fifty day simple moving average of $70.74 and a 200 day simple moving average of $56.15. 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 has a 12-month low of $25.85 and a 12-month high of $82.27.

Delek US (NYSE:DK – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share for the quarter, topping the consensus estimate of $2.67 by $2.81. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter in the prior year, the company posted ($0.56) earnings per share. The business’s revenue was up 47.9% on a year-over-year basis. Sell-side analysts predict that Delek US will post 15.54 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued a $0.2550 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, August 3rd. Delek US’s payout ratio is 28.65%.

Insiders Place Their Bets

In related news, CEO Avigal Soreq sold 80,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $66.51, for a total value of $5,320,800.00. Following the transaction, the chief executive officer owned 231,486 shares in the company, valued at approximately $15,396,133.86. This represents a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Reuven Spiegel sold 10,000 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 36,435 shares of the company’s stock, valued at approximately $2,485,231.35. This trade represents a 21.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 163,377 shares of company stock valued at $11,082,485 in the last quarter. 3.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Delek US

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DK. Allworth Financial LP bought a new position in shares of Delek US in the second quarter worth $30,000. GAMMA Investing LLC grew its position in shares of Delek US by 61.6% in the third quarter. GAMMA Investing LLC now owns 1,183 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 451 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Delek US during the 2nd quarter valued at $61,000. GK Wealth Management LLC bought a new stake in shares of Delek US during the 3rd quarter valued at $100,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in Delek US by 1,327.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,955 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 1,818 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

About Delek US

(Get Free Report)

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.

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