Delek US Holdings, Inc. (NYSE:DK) Receives $53.15 Average Price Target from Brokerages

Delek US Holdings, Inc. (NYSE:DK) has been assigned a consensus recommendation of “Hold” from the fifteen brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $53.1538.

DK has been the subject of several research reports. Morgan Stanley lifted their price objective on shares of Delek US from $41.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Friday, June 12th. Weiss Ratings upgraded Delek US from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Wall Street Zen raised Delek US from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 9th. Zacks Research upgraded Delek US from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Mizuho increased their price objective on Delek US from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th.

Delek US Stock Up 2.3%

Shares of Delek US stock opened at $73.93 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.76 and a debt-to-equity ratio of 7.53. The company has a market cap of $4.53 billion, a P/E ratio of 20.77, a PEG ratio of 1.43 and a beta of 0.57. The firm’s 50 day moving average price is $61.34 and its 200-day moving average price is $49.10. Delek US has a 52-week low of $25.85 and a 52-week high of $75.24.

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 company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.44 billion. Delek US had a net margin of 1.86% and a return on equity of 109.03%. Delek US’s revenue was up 47.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.56) earnings per share. On average, sell-side analysts predict that Delek US will post 11.05 EPS for the current fiscal year.

Delek US Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a $0.255 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.02 dividend on an annualized basis and a yield of 1.4%. Delek US’s dividend payout ratio is currently 28.65%.

Insider Buying and Selling

In other news, EVP Mark Wayne Hobbs sold 20,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $64.59, for a total value of $1,291,800.00. Following the sale, the executive vice president directly owned 104,326 shares of the company’s stock, valued at $6,738,416.34. This represents a 16.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Avigal Soreq sold 80,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $66.51, for a total transaction of $5,320,800.00. Following the completion of the sale, the chief executive officer directly owned 231,486 shares in the company, valued at $15,396,133.86. This trade represents a 25.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 148,016 shares of company stock worth $9,789,125 in the last quarter. 3.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Delek US during the 2nd quarter worth about $275,233,000. California State Teachers Retirement System lifted its holdings in shares of Delek US by 4,681.3% in the 2nd quarter. California State Teachers Retirement System now owns 3,411,231 shares of the oil and gas company’s stock valued at $173,325,000 after buying an additional 3,339,885 shares during the period. ION Fund Management Ltd acquired a new position in shares of Delek US in the 4th quarter valued at about $52,427,000. Norges Bank purchased a new stake in shares of Delek US in the fourth quarter worth about $48,374,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Delek US by 6,300.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,306,269 shares of the oil and gas company’s stock worth $42,153,000 after buying an additional 1,285,861 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

About Delek US

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.