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 research note issued on Friday. They presently have a $26.00 target price on the stock, down from their previous target price of $28.00. Credit Suisse Group AG’s price objective points to a potential upside of 6.78% from the company’s current price.
A number of other brokerages have also commented on DK. Wolfe Research lowered shares of Delek US Holdings from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 31st. Bank of America Corp raised shares of Delek US Holdings from an “underperform” rating to a “neutral” rating and set a $31.00 target price for the company in a research report on Thursday, January 5th. Scotiabank reaffirmed a “hold” rating and issued a $26.00 target price on shares of Delek US Holdings in a research report on Thursday, March 2nd. Finally, TheStreet raised shares of Delek US Holdings from a “d” rating to a “c-” rating in a research report on Monday, February 27th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company’s stock. Delek US Holdings presently has a consensus rating of “Hold” and an average price target of $19.16.
Delek US Holdings (NYSE:DK) opened at 24.35 on Friday. Delek US Holdings has a 12 month low of $11.41 and a 12 month high of $26.06. The stock’s 50 day moving average is $23.82 and its 200-day moving average is $21.11. The firm’s market cap is $1.51 billion.
Delek US Holdings (NYSE:DK) last issued its quarterly earnings data on Monday, February 27th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.11. Delek US Holdings had a negative net margin of 4.61% and a negative return on equity of 5.78%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the business posted ($0.07) earnings per share. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. On average, analysts anticipate that Delek US Holdings will post ($0.25) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Monday, March 13th. Delek US Holdings’s dividend payout ratio (DPR) is presently -16.22%.
In other news, Director Charles H. Leonard sold 3,050 shares of Delek US Holdings stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $24.80, for a total value of $75,640.00. Following the completion of the transaction, the director now owns 22,487 shares of the company’s stock, valued at approximately $557,677.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Anthony L. Miller sold 4,026 shares of Delek US Holdings stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $23.68, for a total transaction of $95,335.68. Following the completion of the transaction, the insider now directly owns 8,876 shares of the company’s stock, valued at approximately $210,183.68. The disclosure for this sale can be found here. In the last three months, insiders sold 12,634 shares of company stock valued at $308,786. Insiders own 1.42% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC purchased a new position in shares of Delek US Holdings during the fourth quarter worth approximately $30,380,000. Perkins Investment Management LLC increased its position in shares of Delek US Holdings by 69.7% in the third quarter. Perkins Investment Management LLC now owns 2,320,624 shares of the company’s stock worth $40,124,000 after buying an additional 952,981 shares during the period. Norges Bank purchased a new position in shares of Delek US Holdings during the fourth quarter worth approximately $20,978,000. Russell Investments Group Ltd. purchased a new position in shares of Delek US Holdings during the fourth quarter worth approximately $17,841,000. Finally, Luminus Management LLC purchased a new position in shares of Delek US Holdings during the fourth quarter worth approximately $17,119,000. 90.21% of the stock is owned by institutional investors.
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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