Delek US (NYSE:DK) Price Target Raised to $97.00

Delek US (NYSE:DK) had its price target lifted by The Goldman Sachs Group from $83.00 to $97.00 in a report published on Thursday, MarketBeat reports. The Goldman Sachs Group currently has a buy rating on the oil and gas company’s stock.

Several other research firms have also recently weighed in on DK. Freedom Broker began coverage on Delek US in a research report on Wednesday, October 7th. They issued a “hold” rating and a $86.00 price objective for the company. Wall Street Zen raised Delek US from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 9th. JPMorgan Chase & Co. raised their price objective on Delek US from $57.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Mizuho reissued a “neutral” rating and set a $83.00 price objective (up from $66.00) on shares of Delek US in a report on Thursday, October 8th. Finally, Citigroup restated a “neutral” rating on shares of Delek US in a research note on Thursday, August 6th. One 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.83.

Delek US Price Performance

NYSE DK opened at $76.75 on Thursday. Delek US has a twelve month low of $25.85 and a twelve month high of $82.27. The company has a debt-to-equity ratio of 7.53, a quick ratio of 0.47 and a current ratio of 0.76. The stock has a market capitalization of $4.70 billion, a PE ratio of 21.56, a P/E/G ratio of 0.38 and a beta of 0.62. The stock has a 50-day simple moving average of $72.37 and a 200 day simple moving average of $57.30.

Delek US (NYSE:DK) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share for the quarter, beating the consensus estimate of $2.67 by $2.81. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.44 billion. Delek US had a return on equity of 109.03% and a net margin of 1.86%. The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.56) EPS. Research analysts anticipate that Delek US will post 15.95 EPS for the current year.

Delek US Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were paid a dividend of $0.2550 per share. This represents a $1.02 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, August 3rd. Delek US’s dividend payout ratio is currently 28.65%.

Insider Activity at Delek US

In other news, Director Vicky Sutil sold 6,397 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $71.50, for a total value of $457,385.50. Following the sale, the director owned 26,407 shares in the company, valued at approximately $1,888,100.50. The trade was a 19.50% decrease in their position. The sale 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 Mark Hobbs sold 20,000 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was 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 directly owned 104,326 shares in the company, valued at approximately $6,738,416.34. The trade was a 16.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 163,377 shares of company stock valued at $11,082,485. Insiders own 3.56% of the company’s stock.

Institutional Investors Weigh In On Delek US

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Delek US in the 2nd quarter valued at about $275,233,000. Arrowstreet Capital Limited Partnership raised its holdings in Delek US by 26.7% in 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 purchasing an additional 335,892 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Delek US by 19.0% in 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 purchasing an additional 181,820 shares during the period. Bank of America Corp DE boosted its position 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 worth $38,138,000 after purchasing an additional 458,004 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Delek US during the 2nd quarter worth $22,987,000. 97.01% of the stock is owned by institutional investors and hedge funds.

Delek US Company Profile

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.