Delek US Holdings Inc. (NYSE:DK) was downgraded by stock analysts at Credit Suisse Group AG from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday. They currently have a $19.50 price target on the stock, up from their prior price target of $17.00. Credit Suisse Group AG’s price objective suggests a potential upside of 16.91% from the company’s previous close.
Several other equities research analysts also recently issued reports on the company. Citigroup Inc. began coverage on Delek US Holdings in a report on Wednesday, September 14th. They issued a “buy” rating and a $23.00 price target for the company. Zacks Investment Research downgraded Delek US Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Piper Jaffray Cos. increased their price target on Delek US Holdings from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Friday, September 16th. Howard Weil increased their price target on Delek US Holdings from $15.00 to $18.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 30th. Finally, Scotiabank reiterated a “sector perform” rating and set a $18.00 price objective (up from $15.00) on shares of Delek US Holdings in a report on Tuesday, August 30th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $19.88.
Shares of Delek US Holdings (NYSE:DK) opened at 16.68 on Tuesday. The company has a 50-day moving average price of $17.48 and a 200 day moving average price of $14.94. Delek US Holdings has a 12-month low of $11.41 and a 12-month high of $29.90. The firm’s market capitalization is $1.03 billion.
Delek US Holdings (NYSE:DK) last released its earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.18. Delek US Holdings had a negative return on equity of 0.87% and a negative net margin of 0.90%. Equities research analysts expect that Delek US Holdings will post ($1.40) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Tuesday, August 23rd were issued a dividend of $0.15 per share. The ex-dividend date was Friday, August 19th. This represents a $0.60 annualized dividend and a yield of 3.60%. Delek US Holdings’s payout ratio is currently -75.00%.
A number of hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Delek US Holdings by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,201,005 shares of the company’s stock valued at $68,705,000 after buying an additional 89,221 shares during the last quarter. Vanguard Group Inc. boosted its stake in Delek US Holdings by 0.7% in the second quarter. Vanguard Group Inc. now owns 4,020,306 shares of the company’s stock valued at $53,109,000 after buying an additional 28,883 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new stake in Delek US Holdings during the second quarter valued at $36,729,000. State Street Corp boosted its stake in Delek US Holdings by 29.5% in the second quarter. State Street Corp now owns 2,451,996 shares of the company’s stock valued at $32,391,000 after buying an additional 558,240 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Delek US Holdings by 10.9% in the second quarter. Victory Capital Management Inc. now owns 1,925,259 shares of the company’s stock valued at $25,433,000 after buying an additional 188,800 shares during the last quarter. 92.18% of the stock is owned by institutional investors and hedge funds.
About Delek US Holdings
Delek US Holdings, Inc is an integrated energy business focused on petroleum refining, the transportation, storage and wholesale of crude oil, intermediate and refined products and convenience store retailing. The Company operates through three segments: Refining, Logistics and Retail. Its Refining Segment operates independent refineries in Tyler, Texas, and El Dorado, Arkansas with a combined design crude distillation capacity of approximately 155,000 barrels per day (bpd).
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