Delek US Holdings, Inc. (DK) Downgraded to Hold at Zacks Investment Research
Delek US Holdings, Inc. (NYSE:DK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “DELEK US HOLDINGS, INC. is a diversified energy business focused on petroleum refining, marketing and supply of refined products, and retail marketing of fuel and general merchandise. “
A number of other brokerages have also issued reports on DK. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $28.00 target price on shares of Delek US Holdings in a research report on Tuesday, July 11th. Wolfe Research raised Delek US Holdings from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 25th. Barclays PLC reissued an “equal weight” rating and issued a $28.00 target price on shares of Delek US Holdings in a research report on Wednesday, July 5th. Tudor Pickering restated a “hold” rating on shares of Delek US Holdings in a research note on Wednesday, July 12th. Finally, BidaskClub upgraded shares of Delek US Holdings from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 2nd. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $29.10.
Shares of Delek US Holdings (DK) traded up 0.42% on Friday, reaching $26.00. The company had a trading volume of 804,088 shares. The company’s 50 day moving average price is $25.98 and its 200-day moving average price is $25.09. The stock’s market capitalization is $2.12 billion. Delek US Holdings has a 1-year low of $14.76 and a 1-year high of $27.85.
Delek US Holdings (NYSE:DK) last announced its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.37). The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $944.29 million. Delek US Holdings had a negative net margin of 3.15% and a negative return on equity of 4.60%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.08) EPS. Equities analysts predict that Delek US Holdings will post $0.52 EPS for the current year.
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In related news, insider Donald Norman Holmes sold 1,018 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $25.19, for a total transaction of $25,643.42. Following the completion of the transaction, the insider now owns 30,989 shares in the company, valued at $780,612.91. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Charles H. Leonard sold 2,500 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $22.10, for a total transaction of $55,250.00. Following the transaction, the director now owns 23,035 shares of the company’s stock, valued at approximately $509,073.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,027 shares of company stock valued at $249,830. Insiders own 1.61% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. grew its stake in shares of Delek US Holdings by 8.8% during the third quarter. Victory Capital Management Inc. now owns 2,881,870 shares of the oil and gas company’s stock worth $77,032,000 after purchasing an additional 232,100 shares in the last quarter. Aperio Group LLC acquired a new position in shares of Delek US Holdings during the third quarter worth $236,000. Boston Advisors LLC grew its stake in shares of Delek US Holdings by 10.2% during the third quarter. Boston Advisors LLC now owns 151,950 shares of the oil and gas company’s stock worth $4,062,000 after purchasing an additional 14,070 shares in the last quarter. Nationwide Fund Advisors grew its stake in shares of Delek US Holdings by 6.8% during the third quarter. Nationwide Fund Advisors now owns 195,162 shares of the oil and gas company’s stock worth $5,217,000 after purchasing an additional 12,433 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Delek US Holdings during the third quarter worth $1,636,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.
Delek US Holdings Company Profile
Delek US Holdings, Inc is a diversified downstream energy company. The Company has a broad platform consisting of refining, logistics, retail and wholesale marketing, renewables and asphalt operations. It operates through five segments: refining, logistics, asphalt, renewable and retail. Its refining assets consist of refineries operated in Tyler and Big Spring, Texas, El Dorado, Arkansas and Krotz Springs, Louisiana with a combined nameplate crude throughput capacity of 302,000 barrels per day.
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