Delek US Holdings, Inc. (NYSE:DK) Stock Has Average Price Target of $65.45 According to Brokerages

Delek US Holdings, Inc. (NYSE:DK) has been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $65.45.

A number of research analysts have issued reports on DK shares. Wall Street Zen upgraded Delek US from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 9th. Mizuho raised their price target on Delek US from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Zacks Research raised Delek US from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 26th. Raymond James Financial upped their price target on shares of Delek US from $72.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, September 14th. Finally, Citigroup reissued a “neutral” rating on shares of Delek US in a research report on Thursday, August 6th.

Insider Activity at Delek US

In related news, EVP Reuven Spiegel sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $73.21, for a total value of $549,075.00. Following the completion of the transaction, the executive vice president directly owned 28,935 shares in the company, valued at $2,118,331.35. The trade was a 20.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary Sullivan, Jr. sold 27,688 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $69.01, for a total value of $1,910,748.88. Following the completion of the transaction, the director directly owned 32,004 shares in the company, valued at $2,208,596.04. This trade represents a 46.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 163,377 shares of company stock valued at $11,082,485 over the last ninety days. Corporate insiders own 3.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC purchased a new stake in shares of Delek US during the second quarter valued at $334,000. WINTON GROUP Ltd raised its position in Delek US by 445.3% in the 2nd quarter. WINTON GROUP Ltd now owns 57,800 shares of the oil and gas company’s stock worth $2,937,000 after buying an additional 47,200 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Delek US during the 2nd quarter valued at about $61,000. Squarepoint Ops LLC lifted its stake in Delek US by 110.9% during the 2nd quarter. Squarepoint Ops LLC now owns 176,773 shares of the oil and gas company’s stock valued at $8,982,000 after acquiring an additional 92,957 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of Delek US by 30.7% during the 2nd quarter. Allworth Financial LP now owns 600 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 141 shares during the last quarter. 97.01% of the stock is owned by institutional investors.

Delek US Trading Down 0.0%

NYSE:DK opened at $67.84 on Wednesday. The firm has a market capitalization of $4.15 billion, a P/E ratio of 19.06 and a beta of 0.59. The company has a debt-to-equity ratio of 7.53, a current ratio of 0.76 and a quick ratio of 0.47. Delek US has a one year low of $25.85 and a one year high of $82.27. The company’s 50-day simple moving average is $69.13 and its 200 day simple moving average is $54.08.

Delek US (NYSE:DK) last released its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $2.81. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.44 billion. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The business’s 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. As a group, analysts forecast that Delek US will post 15.03 EPS for the current fiscal year.

Delek US Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were issued a dividend of $0.2550 per share. The ex-dividend date was Monday, August 3rd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.5%. Delek US’s dividend payout ratio is presently 28.65%.

Key Headlines Impacting Delek US

Here are the key news stories impacting Delek US this week:

• Positive Sentiment: Higher earnings estimates support sentiment. Zacks Research raised its earnings estimates for Delek US, reinforcing the outlook following the company’s strong recent quarterly results, which included earnings and revenue well above consensus expectations. Delek US Stock Earnings Estimates Boosted by Zacks Research
• Positive Sentiment: Delek completed pricing of $400 million of convertible senior notes. The 0.00% notes mature in 2031, meaning the company receives capital without a stated cash-interest expense. The notes are fully and unconditionally guaranteed by qualifying subsidiaries, which may improve investor confidence in the financing. Delek US Announces Pricing of $400 Million of Convertible Senior Notes
• Neutral Sentiment: The financing provides additional liquidity but changes Delek’s capital structure. Proceeds from the offering give DK financial flexibility, while the notes’ senior unsecured status and 2031 maturity add a future repayment obligation. The company’s substantial existing leverage makes the impact of the financing an important consideration for investors. Delek US Prices $400 Million Convertible Senior Notes
• Negative Sentiment: The proposed notes offering initially pressured DK shares. Investors reacted negatively to the possibility of future equity dilution if the convertible notes are converted into Delek shares. The offering also raised concerns about additional leverage, despite the notes carrying a zero-percent coupon. Delek US Shares Drop After Proposed $400 Million Offering

About Delek US

Delek US Holdings, Inc (NYSE: DK) is a downstream energy company engaged primarily in petroleum refining, wholesale fuel marketing and logistics. The company produces transportation fuels and other refined petroleum products, including gasoline, diesel, jet fuel and asphalt.

Delek US operates refineries in the southern United States, including facilities in Texas, Arkansas and Louisiana. Its refining operations are supported by crude oil gathering, transportation, storage and other logistics activities conducted through Delek Logistics Partners, a publicly traded master limited partnership that is managed and partially owned by Delek US.

Founded in 2001 and headquartered in Brentwood, Tennessee, Delek US serves regional markets across the central and southeastern United States.