Delek US (NYSE:DK) Price Target Raised to $90.00

Delek US (NYSE:DK) had its price target increased by TD Cowen from $76.00 to $90.00 in a report released on Monday, Marketbeat reports. They currently have a buy rating on the oil and gas company’s stock.

Other analysts also recently issued reports about the company. Morgan Stanley raised their price target on Delek US from $41.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Friday, June 12th. JPMorgan Chase & Co. boosted their price objective on shares of Delek US from $57.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Weiss Ratings raised shares of Delek US from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Zacks Research upgraded shares of Delek US from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. Finally, Wells Fargo & Company lifted their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.45.

Delek US Price Performance

NYSE:DK opened at $79.33 on Monday. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 0.42 and a beta of 0.59. Delek US has a 1 year low of $25.85 and a 1 year high of $80.15. The business has a 50 day simple moving average of $67.14 and a 200-day simple moving average of $52.50. The company has a debt-to-equity ratio of 7.53, a current ratio of 0.76 and a quick ratio of 0.47.

Delek US (NYSE:DK) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $2.81. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $3.44 billion. Delek US had a return on equity of 109.03% and a net margin of 1.86%.The company’s quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.56) EPS. Equities analysts forecast that Delek US will post 14.71 EPS for the current year.

Delek US Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued a dividend of $0.255 per share. The ex-dividend date was Monday, August 3rd. This represents a $1.02 dividend on an annualized basis and a yield of 1.3%. Delek US’s payout ratio is presently 28.65%.

Insider Buying and Selling

In other news, EVP Mark Hobbs sold 20,000 shares of Delek US stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $64.59, for a total transaction of $1,291,800.00. Following the completion of the sale, the executive vice president owned 104,326 shares of the company’s stock, valued at approximately $6,738,416.34. The trade was a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 Delek US 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 sale, 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 a total of 168,377 shares of company stock worth $11,339,985 over the last ninety days. Corporate insiders own 3.56% of the company’s stock.

Institutional Trading of Delek US

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Delek US during the 2nd quarter worth approximately $275,233,000. Norges Bank purchased a new position in shares of Delek US in the fourth quarter worth $48,374,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Delek US by 26.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,596,093 shares of the oil and gas company’s stock worth $71,936,000 after buying an additional 335,892 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Delek US by 19.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,136,720 shares of the oil and gas company’s stock worth $51,232,000 after buying an additional 181,820 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Delek US by 118.0% during the first quarter. Bank of America Corp DE now owns 846,204 shares of the oil and gas company’s stock valued at $38,138,000 after buying an additional 458,004 shares during the last quarter. Institutional investors own 97.01% of the company’s stock.

Delek US Company Profile

Delek US Holdings, Inc (NYSE: DK) is a downstream energy company engaged primarily in petroleum refining, wholesale fuel marketing and logistics. The company produces transportation fuels and other refined petroleum products, including gasoline, diesel, jet fuel and asphalt.

Delek US operates refineries in the southern United States, including facilities in Texas, Arkansas and Louisiana. Its refining operations are supported by crude oil gathering, transportation, storage and other logistics activities conducted through Delek Logistics Partners, a publicly traded master limited partnership that is managed and partially owned by Delek US.

Founded in 2001 and headquartered in Brentwood, Tennessee, Delek US serves regional markets across the central and southeastern United States.