Credit Suisse Group began coverage on shares of Delek US (NYSE:DK) in a report released on Monday, April 9th, MarketBeat reports. The firm issued an outperform rating and a $47.00 price objective on the oil and gas company’s stock.
DK has been the topic of a number of other research reports. JPMorgan Chase increased their price objective on Delek US from $43.00 to $44.00 and gave the stock a neutral rating in a research report on Monday, April 9th. Zacks Investment Research downgraded Delek US from a strong-buy rating to a hold rating in a research report on Tuesday, March 20th. Deutsche Bank increased their price objective on Delek US from $43.00 to $46.00 and gave the stock a hold rating in a research report on Monday, March 19th. ValuEngine raised Delek US from a hold rating to a buy rating in a research note on Friday, March 2nd. Finally, Royal Bank of Canada reissued a buy rating and issued a $42.00 target price on shares of Delek US in a research note on Thursday, March 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $41.40.
Delek US stock opened at $46.62 on Monday. Delek US has a 12 month low of $20.65 and a 12 month high of $47.18. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $3,882.94, a P/E ratio of 37.00, a PEG ratio of 1.58 and a beta of 1.44.
Delek US (NYSE:DK) last posted its earnings results on Monday, February 26th. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.10. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.10 billion. Delek US had a return on equity of 5.99% and a net margin of 3.99%. The business’s quarterly revenue was up 129.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.44) earnings per share. analysts predict that Delek US will post 2.92 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 26th. Investors of record on Monday, March 12th were paid a $0.20 dividend. The ex-dividend date was Friday, March 9th. This is a boost from Delek US’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 1.72%. Delek US’s dividend payout ratio (DPR) is presently 63.49%.
Delek US announced that its board has initiated a stock buyback program on Monday, February 26th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In other Delek US news, Director William J. Finnerty sold 6,000 shares of the firm’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $45.47, for a total value of $272,820.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony L. Miller sold 1,118 shares of the firm’s stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $36.87, for a total transaction of $41,220.66. The disclosure for this sale can be found here. Insiders sold 216,109 shares of company stock worth $8,105,076 over the last three months. 1.40% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in DK. Nationwide Fund Advisors lifted its holdings in shares of Delek US by 6.8% during the third quarter. Nationwide Fund Advisors now owns 195,162 shares of the oil and gas company’s stock valued at $5,217,000 after purchasing an additional 12,433 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Delek US by 4.8% during the third quarter. New York State Common Retirement Fund now owns 121,916 shares of the oil and gas company’s stock valued at $3,259,000 after acquiring an additional 5,555 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Delek US by 72.1% during the third quarter. Bank of New York Mellon Corp now owns 1,149,603 shares of the oil and gas company’s stock valued at $30,729,000 after acquiring an additional 481,713 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Delek US by 371.2% during the third quarter. Ameriprise Financial Inc. now owns 458,456 shares of the oil and gas company’s stock valued at $12,254,000 after acquiring an additional 361,162 shares in the last quarter. Finally, Macquarie Group Ltd. bought a new stake in shares of Delek US during the third quarter valued at approximately $273,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.
About Delek US
Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company's Refining segment processes crude oil and other purchased feedstocks for the manufacture of various grades of gasoline, diesel fuel, aviation fuel, asphalt, and other petroleum-based products that are distributed through owned and third-party product terminals.
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