Scotiabank Reaffirms “Hold” Rating for Delek US Holdings, Inc. (DK)
Scotiabank restated their hold rating on shares of Delek US Holdings, Inc. (NYSE:DK) in a research note released on Friday. The firm currently has a $26.00 price target on the oil and gas company’s stock.
DK has been the subject of several other research reports. BidaskClub raised Delek US Holdings from a buy rating to a strong-buy rating in a report on Tuesday, June 20th. Zacks Investment Research lowered Delek US Holdings from a buy rating to a hold rating in a report on Tuesday, July 18th. Wolfe Research raised Delek US Holdings from a market perform rating to an outperform rating in a report on Tuesday, July 25th. Citigroup Inc. lowered Delek US Holdings from a buy rating to a neutral rating and set a $29.00 price target for the company. in a report on Friday, July 14th. Finally, Barclays PLC reissued an equal weight rating and set a $28.00 price target on shares of Delek US Holdings in a report on Wednesday, July 5th. Thirteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $26.38.
Delek US Holdings (NYSE:DK) opened at 25.92 on Friday. The stock’s 50 day moving average price is $24.12 and its 200 day moving average price is $24.68. Delek US Holdings has a 1-year low of $14.76 and a 1-year high of $27.85. The company’s market cap is $1.61 billion.
Delek US Holdings (NYSE:DK) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.40) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.37. Delek US Holdings had a negative return on equity of 4.60% and a negative net margin of 3.15%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $944.29 million. During the same period in the previous year, the firm earned ($0.08) EPS. The business’s revenue was up 7.3% on a year-over-year basis. On average, equities analysts anticipate that Delek US Holdings will post $0.03 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Monday, August 21st. Delek US Holdings’s dividend payout ratio (DPR) is -25.86%.
In other news, insider Jared Serff sold 1,136 shares of the company’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $26.80, for a total value of $30,444.80. Following the completion of the transaction, the insider now owns 13,683 shares of the company’s stock, valued at $366,704.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Charles H. Leonard sold 2,500 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $22.10, for a total value of $55,250.00. Following the completion of the transaction, the director now directly owns 23,035 shares of the company’s stock, valued at approximately $509,073.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,349 shares of company stock valued at $105,445. Corporate insiders own 1.61% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio purchased a new stake in shares of Delek US Holdings in the first quarter worth about $737,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Delek US Holdings in the first quarter worth about $11,164,000. Canada Pension Plan Investment Board lifted its position in shares of Delek US Holdings by 51.5% in the second quarter. Canada Pension Plan Investment Board now owns 242,900 shares of the oil and gas company’s stock worth $6,422,000 after buying an additional 82,600 shares in the last quarter. Clinton Group Inc. purchased a new stake in shares of Delek US Holdings in the first quarter worth about $230,000. Finally, Bank of Montreal Can lifted its position in shares of Delek US Holdings by 42.2% in the first quarter. Bank of Montreal Can now owns 31,228 shares of the oil and gas company’s stock worth $758,000 after buying an additional 9,266 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.
Delek US Holdings Company Profile
Delek US Holdings, Inc is a diversified downstream energy company. The Company has a broad platform consisting of refining, logistics, retail and wholesale marketing, renewables and asphalt operations. It operates through five segments: refining, logistics, asphalt, renewable and retail. Its refining assets consist of refineries operated in Tyler and Big Spring, Texas, El Dorado, Arkansas and Krotz Springs, Louisiana with a combined nameplate crude throughput capacity of 302,000 barrels per day.
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