Delek US (NYSE:DK) Price Target Raised to $62.00

Delek US (NYSE:DK) had its price target hoisted by JPMorgan Chase & Co. from $57.00 to $62.00 in a report issued on Tuesday,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

DK has been the topic of a number of other reports. Morgan Stanley lifted their price target on shares of Delek US from $41.00 to $45.00 and gave the company an “equal weight” rating in a report on Friday, June 12th. Wall Street Zen raised shares of Delek US from a “buy” rating to a “strong-buy” rating in a report on Monday, May 18th. Wells Fargo & Company raised their price objective on Delek US from $54.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Weiss Ratings cut Delek US from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, The Goldman Sachs Group upgraded Delek US from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $43.00 to $55.00 in a research report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $49.15.

Delek US Trading Up 3.2%

Shares of DK opened at $61.51 on Tuesday. The company has a debt-to-equity ratio of 10.51, a current ratio of 0.76 and a quick ratio of 0.49. Delek US has a 1 year low of $19.81 and a 1 year high of $62.53. The company has a 50 day simple moving average of $47.96 and a two-hundred day simple moving average of $40.98. The firm has a market cap of $3.77 billion, a P/E ratio of -67.60, a price-to-earnings-growth ratio of 0.33 and a beta of 0.58.

Delek US (NYSE:DK) last released its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $1.50. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter last year, the business posted ($2.32) earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. On average, equities analysts expect that Delek US will post 6.08 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, May 1st were given a dividend of $0.255 per share. The ex-dividend date was Friday, May 1st. This represents a $1.02 annualized dividend and a yield of 1.7%. Delek US’s dividend payout ratio (DPR) is -112.09%.

Insider Buying and Selling at Delek US

In other news, EVP Robert G. Wright sold 10,720 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $47.07, for a total value of $504,590.40. Following the sale, the executive vice president directly owned 48,148 shares in the company, valued at $2,266,326.36. The trade was a 18.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Reuven Spiegel sold 10,000 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $44.36, for a total transaction of $443,600.00. Following the sale, the executive vice president owned 48,372 shares in the company, valued at $2,145,781.92. This represents a 17.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 39,270 shares of company stock valued at $1,828,718 over the last ninety days. Corporate insiders own 3.56% of the company’s stock.

Institutional Trading of Delek US

Institutional investors have recently bought and sold shares of the stock. ION Fund Management Ltd bought a new position in Delek US during the fourth quarter valued at $52,427,000. Norges Bank bought a new stake in shares of Delek US in the 4th quarter worth about $48,374,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Delek US by 6,300.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,306,269 shares of the oil and gas company’s stock worth $42,153,000 after acquiring an additional 1,285,861 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Delek US by 1,516.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 996,059 shares of the oil and gas company’s stock worth $29,544,000 after purchasing an additional 934,448 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Delek US by 1,173.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 954,900 shares of the oil and gas company’s stock worth $28,322,000 after purchasing an additional 879,900 shares during the period. 97.01% of the stock is currently owned by institutional investors.

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.