Delek US (NYSE:DK) Price Target Raised to $54.00 at Raymond James Financial

Delek US (NYSE:DK) had its price objective lifted by Raymond James Financial from $47.00 to $54.00 in a research report sent to investors on Wednesday,Benzinga reports. Raymond James Financial currently has an outperform rating on the oil and gas company’s stock.

A number of other research firms also recently weighed in on DK. Wall Street Zen raised shares of Delek US from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Citigroup reduced their price objective on shares of Delek US from $37.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, January 26th. Mizuho raised their price target on Delek US from $51.00 to $54.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. Scotiabank set a $34.00 price objective on shares of Delek US in a research report on Friday, January 16th. Finally, Morgan Stanley reduced their target price on Delek US from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 27th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.00.

Delek US Trading Down 3.3%

NYSE:DK opened at $44.41 on Wednesday. The company has a market cap of $2.66 billion, a P/E ratio of -126.90 and a beta of 0.75. Delek US has a twelve month low of $11.02 and a twelve month high of $46.90. The business has a 50 day moving average price of $35.75 and a two-hundred day moving average price of $34.76. The company has a quick ratio of 0.53, a current ratio of 0.82 and a debt-to-equity ratio of 5.89.

Delek US (NYSE:DK) last posted its quarterly earnings data on Friday, February 27th. The oil and gas company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.63. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.55 billion. Delek US had a negative net margin of 0.21% and a negative return on equity of 13.55%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company earned ($2.54) earnings per share. As a group, analysts expect that Delek US will post -5.5 EPS for the current fiscal year.

Delek US Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, March 2nd were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Monday, March 2nd. Delek US’s payout ratio is -291.43%.

Insider Buying and Selling at Delek US

In related news, Director Shlomo Zohar sold 7,343 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $46.00, for a total transaction of $337,778.00. Following the sale, the director owned 6,646 shares of the company’s stock, valued at $305,716. This represents a 52.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William J. Finnerty sold 5,000 shares of Delek US stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $45.50, for a total value of $227,500.00. Following the completion of the transaction, the director directly owned 41,369 shares of the company’s stock, valued at $1,882,289.50. This represents a 10.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 172,095 shares of company stock valued at $7,257,409 over the last ninety days. 3.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Delek US by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company’s stock worth $187,773,000 after purchasing an additional 38,577 shares during the period. Ion Asset Management Ltd. increased its holdings in Delek US by 1.8% in the 2nd quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company’s stock valued at $79,296,000 after buying an additional 67,490 shares during the period. State Street Corp raised its position in shares of Delek US by 3.4% in the 4th quarter. State Street Corp now owns 2,639,447 shares of the oil and gas company’s stock valued at $78,286,000 after buying an additional 87,846 shares in the last quarter. Morgan Stanley raised its position in shares of Delek US by 24.7% in the 4th quarter. Morgan Stanley now owns 2,033,037 shares of the oil and gas company’s stock valued at $60,300,000 after buying an additional 403,059 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Delek US by 29.4% during the 3rd quarter. Barclays PLC now owns 1,873,578 shares of the oil and gas company’s stock worth $60,460,000 after acquiring an additional 425,896 shares during the period. Institutional investors and hedge funds 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.