Delek US (NYSE:DK) Price Target Raised to $29.00 at UBS Group

Delek US (NYSE:DK) had its price target upped by UBS Group from $24.00 to $29.00 in a report issued on Tuesday,Benzinga reports. UBS Group currently has a neutral rating on the oil and gas company’s stock.

Several other research analysts have also recently issued reports on DK. The Goldman Sachs Group increased their target price on shares of Delek US from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, May 23rd. Morgan Stanley raised their price target on shares of Delek US from $15.00 to $19.00 and gave the company an “underweight” rating in a report on Wednesday, July 16th. Cowen reiterated a “sell” rating on shares of Delek US in a research note on Friday, August 8th. Scotiabank reiterated a “sector perform” rating and issued a $20.00 target price (up from $14.00) on shares of Delek US in a research note on Friday, July 11th. Finally, Mizuho raised shares of Delek US from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $22.00 to $23.00 in a research report on Tuesday, May 13th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $21.67.

Delek US Stock Up 11.6%

Shares of Delek US stock opened at $30.93 on Tuesday. The company has a debt-to-equity ratio of 10.48, a current ratio of 0.80 and a quick ratio of 0.50. Delek US has a 1 year low of $11.02 and a 1 year high of $31.00. The firm’s 50-day moving average is $23.59 and its two-hundred day moving average is $18.82. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -2.52 and a beta of 1.09.

Delek US (NYSE:DK) last issued its earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.36. Delek US had a negative net margin of 7.11% and a negative return on equity of 79.27%. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the prior year, the business earned ($0.92) EPS. The firm’s quarterly revenue was down 16.4% on a year-over-year basis. As a group, research analysts expect that Delek US will post -5.5 earnings per share for the current fiscal year.

Delek US Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 11th were paid a $0.255 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.02 dividend on an annualized basis and a yield of 3.3%. Delek US’s dividend payout ratio (DPR) is currently -8.30%.

Institutional Investors Weigh In On Delek US

A number of institutional investors have recently added to or reduced their stakes in the stock. Ion Asset Management Ltd. boosted its stake in Delek US by 1.8% during the 2nd quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company’s stock worth $79,296,000 after purchasing an additional 67,490 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Delek US by 113.5% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,601,777 shares of the oil and gas company’s stock worth $33,926,000 after purchasing an additional 851,458 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Delek US by 25.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 1,051,066 shares of the oil and gas company’s stock worth $22,262,000 after purchasing an additional 211,791 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Delek US by 35.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,037,599 shares of the oil and gas company’s stock worth $15,637,000 after purchasing an additional 270,792 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Delek US by 21.9% during the 4th quarter. Nuveen Asset Management LLC now owns 1,005,309 shares of the oil and gas company’s stock worth $18,598,000 after purchasing an additional 180,498 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

About Delek US

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through Refining, Logistics, and Retail segments. 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.