Delek US (NYSE:DK)‘s stock had its “neutral” rating reiterated by analysts at JPMorgan Chase & Co. in a research report issued on Tuesday. They currently have a $43.00 price target on the oil and gas company’s stock, up from their prior price target of $41.00. JPMorgan Chase & Co.’s price target would indicate a potential upside of 17.33% from the stock’s current price.
Several other equities research analysts also recently weighed in on DK. Raymond James Financial raised shares of Delek US from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $32.00 to $35.00 in a report on Monday, November 13th. Zacks Investment Research downgraded shares of Delek US from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Wells Fargo & Co raised shares of Delek US from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Tuesday, November 14th. Tudor Pickering raised shares of Delek US from a “hold” rating to a “buy” rating in a report on Friday, November 17th. Finally, Bank of America downgraded shares of Delek US from a “neutral” rating to an “underperform” rating and set a $34.00 price target for the company. in a report on Friday, December 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $37.43.
Delek US (DK) traded up $0.07 during mid-day trading on Tuesday, reaching $36.65. 29,798 shares of the company traded hands, compared to its average volume of 1,266,833. The firm has a market capitalization of $3,130.00, a P/E ratio of 8.97, a P/E/G ratio of 1.59 and a beta of 1.63. Delek US has a 1-year low of $20.65 and a 1-year high of $39.43. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.45.
Delek US announced that its board has approved a share repurchase plan on Monday, February 26th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the oil and gas company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
In other Delek US news, COO Frederec Green sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $38.00, for a total transaction of $950,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Wiessman sold 200,000 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $37.30, for a total transaction of $7,460,000.00. The disclosure for this sale can be found here. Insiders have sold 265,591 shares of company stock valued at $9,855,201 over the last ninety days. Insiders own 1.61% of the company’s stock.
A number of hedge funds have recently bought and sold shares of DK. Dimensional Fund Advisors LP increased its holdings in shares of Delek US by 35.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,058,494 shares of the oil and gas company’s stock valued at $188,672,000 after purchasing an additional 1,833,630 shares during the period. BlackRock Inc. increased its holdings in shares of Delek US by 3.1% in the 4th quarter. BlackRock Inc. now owns 5,148,200 shares of the oil and gas company’s stock valued at $179,880,000 after purchasing an additional 154,903 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Delek US by 73.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,963,259 shares of the oil and gas company’s stock valued at $103,536,000 after purchasing an additional 1,258,853 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of Delek US by 315.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,790,717 shares of the oil and gas company’s stock valued at $74,596,000 after purchasing an additional 2,119,017 shares during the period. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of Delek US by 0.4% in the 4th quarter. TIAA CREF Investment Management LLC now owns 1,893,620 shares of the oil and gas company’s stock valued at $66,163,000 after purchasing an additional 7,330 shares during the period. 91.07% of the stock is owned by institutional investors.
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Delek US 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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