Delek US (NYSE:DK – Free Report) had its price target raised by Mizuho from $28.00 to $33.00 in a report issued on Monday morning, MarketBeat reports. The firm currently has an underperform rating on the oil and gas company’s stock.
Other research analysts also recently issued reports about the company. TheStreet downgraded Delek US from a b rating to a c+ rating in a research note on Monday, August 7th. Morgan Stanley cut their price objective on Delek US from $27.00 to $25.00 and set an underweight rating for the company in a research report on Tuesday, July 18th. StockNews.com assumed coverage on Delek US in a research report on Thursday, August 17th. They issued a hold rating for the company. Wells Fargo & Company raised their price objective on Delek US from $19.00 to $24.00 and gave the company an underweight rating in a research report on Friday, September 8th. Finally, Piper Sandler raised their price objective on Delek US from $27.00 to $29.00 and gave the company a neutral rating in a research report on Friday, August 11th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $29.27.
Delek US Stock Up 1.5 %
Delek US (NYSE:DK – Get Free Report) last posted its quarterly earnings data on Monday, August 7th. The oil and gas company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.26. The business had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $3.26 billion. Delek US had a positive return on equity of 19.37% and a negative net margin of 0.31%. Delek US’s quarterly revenue was down 28.8% on a year-over-year basis. During the same period last year, the company earned $4.40 earnings per share. On average, sell-side analysts expect that Delek US will post 4.05 EPS for the current fiscal year.
Delek US Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 14th were given a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.94 dividend on an annualized basis and a yield of 3.11%. This is a positive change from Delek US’s previous quarterly dividend of $0.23. Delek US’s payout ratio is currently -116.05%.
Insider Buying and Selling
In related news, Director Laurie Z. Tolson sold 2,700 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $26.67, for a total transaction of $72,009.00. Following the sale, the director now owns 12,340 shares in the company, valued at approximately $329,107.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of DK. FMR LLC lifted its holdings in Delek US by 416.8% during the 1st quarter. FMR LLC now owns 1,532,222 shares of the oil and gas company’s stock worth $35,164,000 after buying an additional 1,235,752 shares during the period. Norges Bank acquired a new position in Delek US during the 4th quarter worth about $28,471,000. Barclays PLC lifted its holdings in Delek US by 646.7% during the 1st quarter. Barclays PLC now owns 904,491 shares of the oil and gas company’s stock worth $20,758,000 after buying an additional 783,355 shares during the period. Victory Capital Management Inc. lifted its holdings in Delek US by 34.7% during the 1st quarter. Victory Capital Management Inc. now owns 2,666,178 shares of the oil and gas company’s stock worth $61,189,000 after buying an additional 686,487 shares during the period. Finally, State Street Corp lifted its stake in shares of Delek US by 17.4% in the 2nd quarter. State Street Corp now owns 4,070,279 shares of the oil and gas company’s stock valued at $105,176,000 after purchasing an additional 603,680 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.
Delek US Company Profile
Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through three segments: Refining, Logistics, and Retail. The Refining segment processes crude oil and other feedstock 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 terminal.
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