Wells Fargo & Co. Lowers Delek US Holdings Inc. (DK) to Market Perform
Delek US Holdings Inc. (NYSE:DK) was downgraded by analysts at Wells Fargo & Co. from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday.
Several other analysts also recently commented on DK. JPMorgan Chase & Co. downgraded Delek US Holdings from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $17.00 to $12.00 in a research note on Monday, July 11th. Howard Weil cut shares of Delek US Holdings from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $22.00 to $15.00 in a research report on Monday, July 11th. Scotiabank cut shares of Delek US Holdings from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $22.00 to $15.00 in a research report on Monday, July 11th. Zacks Investment Research cut shares of Delek US Holdings from a “hold” rating to a “strong sell” rating in a research report on Monday, July 11th. Finally, Barclays PLC cut shares of Delek US Holdings from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $20.00 to $15.00 in a research report on Wednesday, July 13th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.66.
Delek US Holdings (NYSE:DK) traded down 0.40% during trading on Wednesday, hitting $17.34. The stock had a trading volume of 1,130,530 shares. The firm’s market capitalization is $1.07 billion. Delek US Holdings has a 1-year low of $11.41 and a 1-year high of $30.74. The firm has a 50 day moving average price of $16.59 and a 200-day moving average price of $14.72.
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Delek US Holdings (NYSE:DK) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ 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%. On average, equities research analysts expect that Delek US Holdings will post ($1.37) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Tuesday, August 23rd were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 19th. This represents a $0.60 dividend on an annualized basis and a yield of 3.45%. Delek US Holdings’s dividend payout ratio is -75.00%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Delek US Holdings by 81.4% in the first quarter. BlackRock Inc. now owns 7,420 shares of the company’s stock worth $113,000 after buying an additional 3,329 shares during the period. Hsbc Holdings PLC purchased a new position in Delek US Holdings during the second quarter worth approximately $138,000. Bayesian Capital Management LP purchased a new position in Delek US Holdings during the first quarter worth approximately $164,000. Tower Research Capital LLC TRC raised its position in 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 worth $142,000 after buying an additional 10,479 shares during the period. Finally, First Midwest Bank Trust Division purchased a new position in Delek US Holdings during the second quarter worth approximately $176,000. Institutional investors and hedge funds 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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