Delek US (NYSE:DK) Price Target Raised to $70.00

Delek US (NYSE:DK) had its price target boosted by Citigroup from $62.00 to $70.00 in a report released on Monday,Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

A number of other research firms also recently weighed in on DK. Morgan Stanley upped their target price on shares of Delek US from $45.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Monday, September 14th. TD Cowen upped their price target on Delek US from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Freedom Broker began coverage on shares of Delek US in a research report on Wednesday, October 7th. They issued a “hold” rating and a $86.00 target price for the company. Wells Fargo & Company upped their price objective on Delek US from $82.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, October 14th. Finally, Mizuho cut Delek US from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $66.00 to $83.00 in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $77.75.

Delek US Price Performance

Shares of NYSE:DK opened at $67.09 on Monday. The stock has a market cap of $4.07 billion, a PE ratio of 3.56, a PEG ratio of 0.44 and a beta of 0.61. The company’s fifty day moving average is $73.19 and its 200 day moving average is $54.30. The company has a quick ratio of 0.92, a current ratio of 1.33 and a debt-to-equity ratio of 2.03. Delek US has a 52 week low of $25.85 and a 52 week high of $82.27.

Delek US (NYSE:DK) last released its quarterly earnings data on Friday, November 6th. The oil and gas company reported $13.55 earnings per share for the quarter, beating analysts’ consensus estimates of $8.05 by $5.50. The firm had revenue of $4.39 billion during the quarter, compared to analyst estimates of $3.88 billion. Delek US had a return on equity of 140.39% and a net margin of 8.70%. The business’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.13 earnings per share. Research analysts anticipate that Delek US will post 19.53 earnings per share for the current year.

Delek US Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Tuesday, November 10th will be given a $0.30 dividend. The ex-dividend date is Tuesday, November 10th. This is a positive change from Delek US’s previous quarterly dividend of $0.2550. This represents a $1.20 dividend on an annualized basis and a yield of 1.8%. Delek US’s dividend payout ratio (DPR) is currently 6.37%.

Insider Transactions at Delek US

In other news, EVP Reuven Spiegel sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $68.21, for a total value of $682,100.00. Following the transaction, the executive vice president owned 36,435 shares of the company’s stock, valued at $2,485,231.35. This trade represents a 21.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky Sutil sold 6,397 shares of Delek US stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $71.50, for a total value of $457,385.50. Following the transaction, the director directly owned 26,407 shares in the company, valued at approximately $1,888,100.50. The trade was a 19.50% 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. Over the last three months, insiders have sold 163,377 shares of company stock valued at $11,082,485. Company insiders own 3.56% of the company’s stock.

Institutional Trading of Delek US

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP purchased a new position in shares of Delek US in the 2nd quarter worth $30,000. Parallel Advisors LLC raised its position in shares of Delek US by 168.3% during the 3rd quarter. Parallel Advisors LLC now owns 440 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 276 shares in the last quarter. Carolina Wealth Advisors LLC bought a new position in shares of Delek US in the 3rd quarter valued at about $38,000. Fortitude Family Office LLC lifted its holdings in shares of Delek US by 223.7% in the 3rd quarter. Fortitude Family Office LLC now owns 547 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 378 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Delek US by 842.7% in the 3rd quarter. IFP Advisors Inc now owns 707 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 632 shares during the last quarter. Institutional investors own 97.01% of the company’s stock.

Delek US Company Profile

Delek US Holdings, Inc. is an independent downstream energy company focused on petroleum refining and related logistics in the southern United States. Its refining operations are located in Texas, Arkansas and Louisiana, where it processes crude oil into transportation fuels and other petroleum products. Products from Delek US refineries include gasoline, diesel, jet fuel, asphalt and petroleum coke. The company also markets refined products to customers and operates midstream assets, including pipelines, terminals and storage facilities, through its subsidiary Delek Logistics Partners.