Delek US (NYSE:DK) Price Target Raised to $35.00 at Raymond James

Delek US (NYSE:DKGet Rating) had its price target increased by Raymond James from $32.00 to $35.00 in a report issued on Friday, Benzinga reports. The firm currently has an outperform rating on the oil and gas company’s stock.

A number of other brokerages also recently weighed in on DK. JPMorgan Chase & Co. increased their price target on shares of Delek US from $24.00 to $29.00 in a report on Tuesday, May 17th. Morgan Stanley raised their price objective on shares of Delek US from $25.00 to $27.00 and gave the company an underweight rating in a research report on Friday, July 15th. Wells Fargo & Company lifted their price target on shares of Delek US from $37.00 to $40.00 and gave the stock an overweight rating in a research report on Tuesday, June 14th. TheStreet upgraded shares of Delek US from a d+ rating to a c rating in a research report on Wednesday, April 20th. Finally, Credit Suisse Group lifted their price objective on shares of Delek US to $32.00 in a research note on Thursday, June 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $27.45.

Delek US Stock Performance

Shares of DK opened at $24.25 on Friday. The company’s fifty day moving average is $27.02 and its 200-day moving average is $23.36. Delek US has a 12 month low of $13.48 and a 12 month high of $35.23. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 5.04, a price-to-earnings-growth ratio of 0.19 and a beta of 1.56. The company has a quick ratio of 0.60, a current ratio of 0.97 and a debt-to-equity ratio of 2.19.

Delek US (NYSE:DKGet Rating) last posted its earnings results on Thursday, August 4th. The oil and gas company reported $4.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $1.93. Delek US had a net margin of 2.09% and a return on equity of 33.35%. The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same period last year, the business posted ($0.88) EPS. Delek US’s revenue was up 173.0% compared to the same quarter last year. Equities analysts expect that Delek US will post 7.68 EPS for the current fiscal year.

Delek US Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Friday, August 19th.

Institutional Trading of Delek US

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in Delek US by 0.8% during the 4th quarter. Rhumbline Advisers now owns 100,360 shares of the oil and gas company’s stock valued at $1,504,000 after acquiring an additional 780 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Delek US by 44.1% during the 4th quarter. JPMorgan Chase & Co. now owns 680,339 shares of the oil and gas company’s stock valued at $10,198,000 after purchasing an additional 208,230 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Delek US by 163.7% during the 4th quarter. BNP Paribas Arbitrage SA now owns 73,803 shares of the oil and gas company’s stock valued at $1,106,000 after purchasing an additional 45,812 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Delek US by 31.2% during the 4th quarter. Fisher Asset Management LLC now owns 1,402,800 shares of the oil and gas company’s stock valued at $21,028,000 after purchasing an additional 333,357 shares during the last quarter. Finally, SIR Capital Management L.P. increased its position in shares of Delek US by 5.4% during the 4th quarter. SIR Capital Management L.P. now owns 996,466 shares of the oil and gas company’s stock valued at $14,937,000 after purchasing an additional 51,073 shares during the last quarter. Institutional investors and hedge funds own 74.69% of the company’s stock.

About Delek US

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Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through three segments: Refining, Logistics, and Retail. The Refining segment processes crude oil and other feedstock for the manufacture of various grades of gasoline, diesel fuel, aviation fuel, asphalt, and other petroleum-based products that are distributed through owned and third-party product terminal.

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