Delek US (NYSE:DK) Price Target Raised to $44.00 at TD Cowen

Delek US (NYSE:DK) had its price target upped by TD Cowen from $28.00 to $44.00 in a research note issued to investors on Thursday morning, MarketBeat.com reports. TD Cowen currently has a hold rating on the oil and gas company’s stock.

A number of other analysts also recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on Delek US from $42.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, January 15th. Mizuho raised their target price on Delek US from $45.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, December 12th. UBS Group boosted their target price on shares of Delek US from $31.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 18th. Citigroup lowered their price target on shares of Delek US from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, January 26th. Finally, Morgan Stanley reduced their price objective on shares of Delek US from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 27th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $39.46.

Delek US Trading Up 3.6%

Shares of Delek US stock opened at $44.72 on Thursday. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -127.77 and a beta of 0.75. Delek US has a 52-week low of $11.02 and a 52-week high of $45.74. The company’s 50-day simple moving average is $32.13 and its 200-day simple moving average is $33.17. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 5.89.

Delek US (NYSE:DK) last announced its quarterly earnings data on Friday, February 27th. The oil and gas company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.63. Delek US had a negative return on equity of 13.55% and a negative net margin of 0.21%.The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the previous year, the company earned ($2.54) EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Delek US will post -5.5 earnings per share for the current year.

Delek US Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Investors of record on Monday, March 2nd will be given a $0.255 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.02 annualized dividend and a dividend yield of 2.3%. Delek US’s payout ratio is currently -291.43%.

Insider Buying and Selling

In related news, CEO Avigal Soreq sold 50,000 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $41.08, for a total value of $2,054,000.00. Following the sale, the chief executive officer directly owned 251,678 shares of the company’s stock, valued at approximately $10,338,932.24. This represents a 16.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Trading of Delek US

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its position in shares of Delek US by 18.4% in the first quarter. Royal Bank of Canada now owns 278,774 shares of the oil and gas company’s stock valued at $4,201,000 after purchasing an additional 43,379 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Delek US in the 1st quarter valued at approximately $390,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Delek US by 3.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,190 shares of the oil and gas company’s stock valued at $560,000 after buying an additional 1,102 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Delek US by 3,979.8% during the 1st quarter. Jones Financial Companies Lllp now owns 20,399 shares of the oil and gas company’s stock valued at $307,000 after buying an additional 19,899 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Delek US by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,871 shares of the oil and gas company’s stock worth $2,213,000 after buying an additional 9,827 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Delek US Company Profile

Delek US Holdings, Inc (NYSE: DK) is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.