Zacks Investment Research upgraded shares of Delek US (NYSE:DK) from a hold rating to a buy rating in a research report sent to investors on Wednesday. Zacks Investment Research currently has $43.00 price target on the oil and gas company’s stock.
According to Zacks, “DELEK US HOLDINGS, INC. is a diversified energy business focused on petroleum refining, marketing and supply of refined products, and retail marketing of fuel and general merchandise. “
Other analysts have also issued reports about the company. Scotiabank reiterated a buy rating and issued a $43.00 price objective on shares of Delek US in a research report on Wednesday, January 10th. Royal Bank of Canada reiterated a buy rating and issued a $35.00 price objective on shares of Delek US in a research report on Wednesday, October 18th. Morgan Stanley upgraded Delek US from an equal weight rating to an overweight rating and set a $44.00 price objective for the company in a research report on Thursday, January 11th. Cowen reiterated a buy rating and issued a $30.00 price objective on shares of Delek US in a research report on Tuesday, October 17th. Finally, Citigroup reiterated a hold rating and issued a $27.00 price objective (down from $29.00) on shares of Delek US in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Delek US presently has a consensus rating of Buy and an average target price of $35.14.
Delek US (NYSE:DK) last announced its earnings results on Wednesday, November 8th. The oil and gas company reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.13. Delek US had a return on equity of 1.71% and a net margin of 2.09%. analysts predict that Delek US will post 0.87 EPS for the current fiscal year.
In other Delek US news, COO Frederec Green sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $28.00, for a total transaction of $280,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Anthony L. Miller sold 1,155 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $32.79, for a total value of $37,872.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 255,631 shares of company stock worth $8,523,903. Company insiders own 1.61% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in shares of Delek US during the 3rd quarter valued at about $114,000. Hanseatic Management Services Inc. lifted its holdings in shares of Delek US by 18,606.3% during the 3rd quarter. Hanseatic Management Services Inc. now owns 5,986 shares of the oil and gas company’s stock valued at $160,000 after purchasing an additional 5,954 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Delek US by 51.3% during the 3rd quarter. Great West Life Assurance Co. Can now owns 7,112 shares of the oil and gas company’s stock valued at $188,000 after purchasing an additional 2,412 shares in the last quarter. Amalgamated Bank bought a new position in shares of Delek US during the 2nd quarter valued at about $207,000. Finally, ETRADE Capital Management LLC bought a new position in shares of Delek US during the 3rd quarter valued at about $215,000. Institutional investors and hedge funds own 93.10% of the company’s stock.
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Delek US Company Profile
Delek US Holdings, Inc is a diversified downstream energy company. The Company has a broad platform consisting of refining, logistics, retail and wholesale marketing, renewables and asphalt operations. It operates through five segments: refining, logistics, asphalt, renewable and retail. Its refining assets consist of refineries operated in Tyler and Big Spring, Texas, El Dorado, Arkansas and Krotz Springs, Louisiana with a combined nameplate crude throughput capacity of 302,000 barrels per day.
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