Zacks Investment Research Downgrades Delek US Holdings Inc. (DK) to Sell
Delek US Holdings Inc. (NYSE:DK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
According to Zacks, “DELEK US HOLDINGS, INC. is a diversified energy business focused on petroleum refining, marketing and supply of refined products, and retail marketing of fuel and general merchandise. “
Other equities analysts also recently issued research reports about the company. Piper Jaffray Cos. boosted their target price on Delek US Holdings from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, September 16th. Citigroup Inc. initiated coverage on Delek US Holdings in a research report on Wednesday, September 14th. They set a “buy” rating and a $23.00 target price on the stock. Raymond James Financial Inc. boosted their target price on Delek US Holdings from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Thursday, September 15th. Morgan Stanley reissued a “hold” rating and set a $15.00 target price on shares of Delek US Holdings in a research report on Thursday, September 1st. Finally, Howard Weil boosted their target price on Delek US Holdings from $15.00 to $18.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 30th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $19.57.
Shares of Delek US Holdings (NYSE:DK) opened at 17.84 on Wednesday. Delek US Holdings has a 1-year low of $11.41 and a 1-year high of $29.90. The company’s market cap is $1.10 billion. The stock has a 50 day moving average of $17.44 and a 200 day moving average of $14.89.
Delek US Holdings (NYSE:DK) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.18. Delek US Holdings had a negative return on equity of 0.87% and a negative net margin of 0.90%. Analysts predict that Delek US Holdings will post ($1.40) EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Tuesday, August 23rd were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date was Friday, August 19th. Delek US Holdings’s dividend payout ratio (DPR) is currently -75.00%.
Large investors have recently modified their holdings of the company. Deprince Race & Zollo Inc. acquired a new position in shares of Delek US Holdings during the second quarter valued at about $36,729,000. Emerald Acquisition Ltd. acquired a new position in shares of Delek US Holdings during the second quarter valued at about $16,852,000. Bogle Investment Management L P DE acquired a new position in shares of Delek US Holdings during the first quarter valued at about $11,671,000. JPMorgan Chase & Co. raised its position in shares of Delek US Holdings by 88.3% in the first quarter. JPMorgan Chase & Co. now owns 1,610,152 shares of the company’s stock valued at $24,539,000 after buying an additional 755,054 shares in the last quarter. Finally, State Street Corp raised its position in shares of Delek US Holdings by 29.5% in the second quarter. State Street Corp now owns 2,451,996 shares of the company’s stock valued at $32,391,000 after buying an additional 558,240 shares in the last quarter. Hedge funds and other institutional investors own 92.18% of the company’s stock.
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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