Credit Suisse Group AG Downgrades Delek US Holdings Inc. (DK) to Neutral
Delek US Holdings Inc. (NYSE:DK) was downgraded by research analysts at Credit Suisse Group AG from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday.
A number of other equities analysts have also recently issued reports on the stock. Barclays PLC restated an “equal weight” rating and set a $19.00 target price (up previously from $16.00) on shares of Delek US Holdings in a research report on Monday. Zacks Investment Research cut shares of Delek US Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. Wells Fargo & Co. cut shares of Delek US Holdings from an “outperform” rating to a “market perform” rating and set a $18.00 target price for the company. in a research report on Wednesday, September 21st. Piper Jaffray Cos. lifted their target price on shares of Delek US Holdings from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, September 16th. Finally, Raymond James Financial Inc. lifted their target price on shares of Delek US Holdings from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Thursday, September 15th. Two investment 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. Delek US Holdings currently has a consensus rating of “Hold” and an average price target of $19.74.
Shares of Delek US Holdings (NYSE:DK) traded down 3.64% during trading on Tuesday, hitting $17.19. 388,179 shares of the stock traded hands. Delek US Holdings has a 52-week low of $11.41 and a 52-week high of $29.90. The company’s 50 day moving average is $17.47 and its 200 day moving average is $14.91. The firm’s market cap is $1.06 billion.
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Delek US Holdings (NYSE:DK) last announced its quarterly earnings data 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 net margin of 0.90% and a negative return on equity of 0.87%. On average, equities research analysts predict that Delek US Holdings will post ($1.40) EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Tuesday, August 23rd were issued 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 3.36%. Delek US Holdings’s payout ratio is -75.00%.
A number of large investors have recently added to or reduced their stakes in DK. Kennedy Capital Management Inc. increased its stake in Delek US Holdings by 34.9% in the first quarter. Kennedy Capital Management Inc. now owns 400,838 shares of the company’s stock worth $6,109,000 after buying an additional 103,607 shares during the last quarter. HBK Investments L P increased its stake in Delek US Holdings by 249.8% in the first quarter. HBK Investments L P now owns 99,039 shares of the company’s stock valued at $1,509,000 after buying an additional 70,722 shares in the last quarter. Bogle Investment Management L P DE acquired a new stake in Delek US Holdings during the first quarter valued at about $11,671,000. Loomis Sayles & Co. L P increased its stake in Delek US Holdings by 195,145.3% in the first quarter. Loomis Sayles & Co. L P now owns 482,256 shares of the company’s stock valued at $7,350,000 after buying an additional 482,009 shares in the last quarter. Finally, UBS Group AG increased its stake in Delek US Holdings by 368.4% in the first quarter. UBS Group AG now owns 155,045 shares of the company’s stock valued at $2,363,000 after buying an additional 121,947 shares in the last quarter. 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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