Delek US (NYSE:DK) Upgraded at Freedom Broker

Freedom Broker upgraded shares of Delek US (NYSE:DK) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, MarketBeat.com reports. The firm currently has $88.00 target price on the oil and gas company’s stock, up from their prior target price of $86.00.

DK has been the topic of a number of other research reports. Piper Sandler began coverage on shares of Delek US in a research report on Tuesday, October 27th. They set a “neutral” rating and a $90.00 price target on the stock. Weiss Ratings raised Delek US from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Morgan Stanley boosted their price objective on Delek US from $45.00 to $81.00 and gave the company an “equal weight” rating in a research note on Monday, September 14th. Citigroup boosted their price objective on Delek US from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, November 9th. Finally, Wall Street Zen upgraded Delek US from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.50.

Delek US Stock Up 0.2%

DK stock opened at $68.57 on Wednesday. The firm has a 50-day moving average price of $73.06 and a 200-day moving average price of $54.71. Delek US has a 12 month low of $25.85 and a 12 month high of $82.27. The company has a current ratio of 1.33, a quick ratio of 0.92 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $4.16 billion, a P/E ratio of 4.14, a price-to-earnings-growth ratio of 0.46 and a beta of 0.61.

Delek US (NYSE:DK) last announced its quarterly earnings results on Friday, November 6th. The oil and gas company reported $13.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.05 by $5.50. Delek US had a net margin of 8.70% and a return on equity of 140.39%. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same period in the previous year, the firm posted $7.13 EPS. The firm’s revenue was up 52.1% on a year-over-year basis. As a group, equities research analysts anticipate that Delek US will post 20.15 EPS for the current fiscal year.

Delek US Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Tuesday, November 10th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Tuesday, November 10th. This is a boost from Delek US’s previous quarterly dividend of $0.2550. Delek US’s dividend payout ratio is presently 6.37%.

Insider Activity at Delek US

In other Delek US news, CEO Avigal Soreq sold 80,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 231,486 shares in the company, valued at approximately $15,396,133.86. This trade represents a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary M. Jr. Sullivan sold 27,688 shares of Delek US stock in a transaction on Monday, August 24th. The shares were sold at an average price of $69.01, for a total transaction of $1,910,748.88. Following the completion of the sale, the director directly owned 32,004 shares of the company’s stock, valued at approximately $2,208,596.04. This trade represents a 46.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 163,377 shares of company stock worth $11,082,485 over the last ninety days. 3.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Delek US

A number of institutional investors and hedge funds have recently made changes to their positions in DK. Allworth Financial LP bought a new stake in Delek US in the 2nd quarter worth about $30,000. Parallel Advisors LLC increased its stake in Delek US by 168.3% in the 3rd quarter. Parallel Advisors LLC now owns 440 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 276 shares during the last quarter. Carolina Wealth Advisors LLC bought a new position in shares of Delek US during the 3rd quarter worth approximately $38,000. Fortitude Family Office LLC lifted its position in shares of Delek US by 223.7% during the 3rd quarter. Fortitude Family Office LLC now owns 547 shares of the oil and gas company’s stock worth $39,000 after buying an additional 378 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in shares of Delek US by 842.7% during the 3rd quarter. IFP Advisors Inc now owns 707 shares of the oil and gas company’s stock worth $50,000 after buying an additional 632 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Delek US Company Profile

Delek US Holdings, Inc. is an independent downstream energy company focused on petroleum refining and related logistics in the southern United States. Its refining operations are located in Texas, Arkansas and Louisiana, where it processes crude oil into transportation fuels and other petroleum products. Products from Delek US refineries include gasoline, diesel, jet fuel, asphalt and petroleum coke. The company also markets refined products to customers and operates midstream assets, including pipelines, terminals and storage facilities, through its subsidiary Delek Logistics Partners.