Credit Suisse Group AG Downgrades Delek US Holdings Inc. (DK) to Neutral
Delek US Holdings Inc. (NYSE:DK) was downgraded by equities research analysts at Credit Suisse Group AG from an “outperform” rating to a “neutral” rating in a report issued on Tuesday.
Other analysts also recently issued reports about the stock. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Delek US Holdings in a report on Saturday, July 9th. Vetr cut shares of Delek US Holdings from a “strong-buy” rating to a “buy” rating and set a $14.25 target price for the company. in a research note on Wednesday, August 3rd. Citigroup Inc. assumed coverage on shares of Delek US Holdings in a research note on Wednesday, September 14th. They issued a “buy” rating and a $23.00 target price for the company. Barclays PLC boosted their target price on shares of Delek US Holdings from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, August 5th. Finally, Zacks Investment Research upgraded shares of Delek US Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, August 16th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.74.
Delek US Holdings (NYSE:DK) opened at 17.84 on Tuesday. Delek US Holdings has a 52 week low of $11.41 and a 52 week high of $29.90. The company’s market cap is $1.10 billion. The stock has a 50 day moving average of $17.47 and a 200 day moving average of $14.91.
Delek US Holdings (NYSE:DK) last released its earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.18. Delek US Holdings had a negative net margin of 0.90% and a negative return on equity of 0.87%. On average, analysts expect that Delek US Holdings will post ($1.40) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 13th. Shareholders of record on Tuesday, August 23rd were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 19th. This represents a $0.60 annualized dividend and a yield of 3.36%. Delek US Holdings’s payout ratio is presently -75.00%.
Several hedge funds have recently made changes to their positions in DK. BlackRock Inc. increased its stake in shares of Delek US Holdings by 81.4% in the first quarter. BlackRock Inc. now owns 7,420 shares of the company’s stock valued at $113,000 after buying an additional 3,329 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Delek US Holdings during the second quarter valued at approximately $138,000. Tower Research Capital LLC TRC increased its stake in shares of Delek US Holdings by 3,358.7% in the second quarter. Tower Research Capital LLC TRC now owns 10,791 shares of the company’s stock valued at $142,000 after buying an additional 10,479 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Delek US Holdings during the first quarter valued at approximately $164,000. Finally, First Midwest Bank Trust Division purchased a new stake in shares of Delek US Holdings during the second quarter valued at approximately $176,000. Hedge funds and other institutional investors own 92.18% of the company’s stock.
Delek US Holdings Company Profile
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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