Credit Suisse Group AG Downgrades Delek US Holdings Inc. (DK) to Neutral
Delek US Holdings Inc. (NYSE:DK) was downgraded by investment analysts at Credit Suisse Group AG from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday, The Fly reports.
Several other research analysts have also commented on the stock. Wells Fargo & Co. reissued a “buy” rating on shares of Delek US Holdings in a research note on Saturday, July 9th. Vetr lowered shares of Delek US Holdings from a “strong-buy” rating to a “buy” rating and set a $14.25 price objective for the company. in a research note on Wednesday, August 3rd. Citigroup Inc. began coverage on shares of Delek US Holdings in a research note on Wednesday, September 14th. They issued a “buy” rating and a $23.00 price objective for the company. Barclays PLC raised their price objective on shares of Delek US Holdings from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Friday, August 5th. Finally, Zacks Investment Research raised shares of Delek US Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.74.
Shares of Delek US Holdings (NYSE:DK) opened at 17.84 on Tuesday. Delek US Holdings has a one year low of $11.41 and a one year high of $29.90. The company’s 50-day moving average is $17.47 and its 200-day moving average is $14.91. The company’s market cap is $1.10 billion.
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Delek US Holdings (NYSE:DK) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.08) earnings per share for the quarter, topping 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 analysts predict that Delek US Holdings will post ($1.40) EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders 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 dividend yield of 3.36%. Delek US Holdings’s payout ratio is -75.00%.
A number of institutional investors have recently bought and sold shares of 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 $138,000. Bayesian Capital Management LP purchased a new position in Delek US Holdings during the first quarter worth $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 $176,000. 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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