Delek US (NYSE:DK) Price Target Raised to $83.00

Delek US (NYSE:DK) had its target price lifted by The Goldman Sachs Group from $73.00 to $83.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has a buy rating on the oil and gas company’s stock.

Several other research firms have also commented on DK. Raymond James Financial lifted their price target on Delek US from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. JPMorgan Chase & Co. raised their price target on Delek US from $57.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. TD Cowen raised their price objective on shares of Delek US from $58.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Morgan Stanley upped their target price on shares of Delek US from $41.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Friday, June 12th. Finally, Zacks Research upgraded shares of Delek US from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Delek US currently has an average rating of “Hold” and a consensus target price of $53.15.

Delek US Stock Performance

DK opened at $63.81 on Tuesday. The firm has a market capitalization of $3.91 billion, a PE ratio of 17.92, a P/E/G ratio of 1.44 and a beta of 0.57. The firm has a 50 day moving average of $57.54 and a two-hundred day moving average of $47.24. Delek US has a 12-month low of $21.09 and a 12-month high of $68.93. The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53.

Delek US (NYSE:DK) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share for the quarter, beating the consensus estimate of $2.67 by $2.81. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $3.44 billion. Delek US had a return on equity of 109.03% and a net margin of 1.86%.Delek US’s quarterly revenue was up 47.9% on a year-over-year basis. During the same period last year, the business earned ($0.56) earnings per share. On average, analysts anticipate that Delek US will post 10.1 EPS for the current year.

Delek US Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, August 3rd. Delek US’s dividend payout ratio (DPR) is presently 28.65%.

Insider Buying and Selling at Delek US

In related news, CEO Avigal Soreq sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $66.51, for a total value of $5,320,800.00. Following the sale, the chief executive officer owned 231,486 shares of the company’s stock, valued at $15,396,133.86. This trade represents a 25.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky Sutil sold 3,061 shares of Delek US stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $46.00, for a total transaction of $140,806.00. Following the completion of the transaction, the director owned 31,239 shares of the company’s stock, valued at $1,436,994. This represents a 8.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 123,629 shares of company stock valued at $7,947,385. 3.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Delek US

Hedge funds and other institutional investors have recently modified their holdings of the company. Lone Peak Global Investors LLC lifted its position in shares of Delek US by 6.0% during the 2nd quarter. Lone Peak Global Investors LLC now owns 246,497 shares of the oil and gas company’s stock worth $12,525,000 after purchasing an additional 13,861 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in Delek US in the second quarter valued at $10,208,000. Van ECK Associates Corp increased its holdings in Delek US by 20.5% in the second quarter. Van ECK Associates Corp now owns 55,647 shares of the oil and gas company’s stock valued at $2,827,000 after buying an additional 9,483 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Delek US in the second quarter valued at $10,664,000. Finally, Archer Investment Corp acquired a new stake in Delek US in the second quarter valued at $334,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.