Delek US (NYSE:DK) had its price objective raised by JPMorgan Chase & Co. from $41.00 to $43.00 in a research report sent to investors on Tuesday morning. They currently have a neutral rating on the oil and gas company’s stock.
Several other analysts have also recently commented on DK. Zacks Investment Research cut Delek US from a strong-buy rating to a hold rating in a research report on Wednesday, January 10th. Scotiabank reaffirmed a buy rating and issued a $43.00 target price on shares of Delek US in a research report on Wednesday, January 10th. Citigroup set a $46.00 target price on Delek US and gave the stock a buy rating in a research report on Wednesday, February 28th. ValuEngine raised Delek US from a hold rating to a buy rating in a research report on Friday, March 2nd. Finally, Morgan Stanley raised Delek US from an equal weight rating to an overweight rating and set a $44.00 target price for the company in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $37.43.
Delek US (DK) opened at $36.58 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $3,130.00, a price-to-earnings ratio of 8.97, a P/E/G ratio of 1.59 and a beta of 1.63. Delek US has a 1-year low of $20.65 and a 1-year high of $39.43.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Monday, March 12th will be given a dividend of $0.20 per share. This is a boost from Delek US’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, March 9th. This represents a $0.80 dividend on an annualized basis and a yield of 2.19%. Delek US’s dividend payout ratio (DPR) is presently 19.61%.
Delek US announced that its board has initiated a share repurchase plan on Monday, February 26th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
In other Delek US news, Director David Wiessman sold 200,000 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $37.30, for a total value of $7,460,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel L. Gordon sold 2,500 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $37.57, for a total value of $93,925.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 265,591 shares of company stock valued at $9,855,201. Insiders own 1.61% of the company’s stock.
Large investors have recently made changes to their positions in the business. Macquarie Group Ltd. acquired a new stake in shares of Delek US in the third quarter worth about $273,000. Ameriprise Financial Inc. increased its stake in shares of Delek US by 371.2% in the third quarter. Ameriprise Financial Inc. now owns 458,456 shares of the oil and gas company’s stock worth $12,254,000 after purchasing an additional 361,162 shares during the period. Magnetar Financial LLC increased its stake in shares of Delek US by 149.0% in the third quarter. Magnetar Financial LLC now owns 33,156 shares of the oil and gas company’s stock worth $886,000 after purchasing an additional 19,840 shares during the period. New York State Common Retirement Fund increased its stake in shares of Delek US by 4.8% in the third quarter. New York State Common Retirement Fund now owns 121,916 shares of the oil and gas company’s stock worth $3,259,000 after purchasing an additional 5,555 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Delek US by 5.0% in the third quarter. Legal & General Group Plc now owns 118,626 shares of the oil and gas company’s stock worth $3,166,000 after purchasing an additional 5,639 shares during the period. 91.07% of the stock is owned by institutional investors.
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About Delek US
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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