Morgan Stanley cut shares of Delek US (NYSE:DK) from an overweight rating to an equal weight rating in a report released on Wednesday, MarketBeat.com reports. The firm currently has $40.00 price objective on the oil and gas company’s stock, down from their prior price objective of $52.00.
Other analysts have also recently issued research reports about the stock. ValuEngine raised shares of Delek US from a sell rating to a hold rating in a research report on Monday, November 26th. Tudor Pickering cut shares of Delek US from a buy rating to a hold rating in a research report on Friday, November 30th. Credit Suisse Group cut their price target on shares of Delek US from $67.00 to $59.00 and set an outperform rating on the stock in a research report on Tuesday, October 9th. Zacks Investment Research raised shares of Delek US from a strong sell rating to a hold rating in a research report on Thursday, December 20th. Finally, Barclays cut their price target on shares of Delek US from $62.00 to $58.00 and set an overweight rating on the stock in a research report on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Delek US has a consensus rating of Hold and a consensus target price of $52.58.
NYSE DK traded down $0.41 on Wednesday, reaching $32.07. The company had a trading volume of 1,750,113 shares, compared to its average volume of 1,866,802. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 0.59 and a beta of 1.40. Delek US has a fifty-two week low of $29.51 and a fifty-two week high of $61.57. The company has a quick ratio of 0.97, a current ratio of 1.43 and a debt-to-equity ratio of 0.96.
In other news, EVP Avigal Soreq sold 1,500 shares of the stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $40.21, for a total transaction of $60,315.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.40% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in DK. Russell Investments Group Ltd. lifted its position in Delek US by 58.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 12,343 shares of the oil and gas company’s stock valued at $620,000 after acquiring an additional 4,543 shares in the last quarter. BlackRock Inc. lifted its position in Delek US by 13.6% in the 2nd quarter. BlackRock Inc. now owns 5,808,118 shares of the oil and gas company’s stock valued at $291,393,000 after acquiring an additional 697,134 shares in the last quarter. FMR LLC lifted its position in Delek US by 47.3% in the 2nd quarter. FMR LLC now owns 9,933,478 shares of the oil and gas company’s stock valued at $498,363,000 after acquiring an additional 3,190,607 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Delek US by 1,712.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,338 shares of the oil and gas company’s stock valued at $117,000 after acquiring an additional 2,209 shares in the last quarter. Finally, Korea Investment CORP bought a new position in Delek US in the 2nd quarter valued at about $712,000.
About Delek US
Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company's Refining segment processes crude oil and other purchased feedstocks for the manufacture of various grades of gasoline, diesel fuel, aviation fuel, asphalt, and other petroleum-based products that are distributed through owned and third-party product terminals.
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