Delek US (NYSE:DK) Reaches New 52-Week High on Analyst Upgrade

Key Points

• Delek US Holdings, Inc. shares reached a new 52-week high of $28.36 following an upgrade by UBS Group, which raised its price target from $24.00 to $29.00.
• Several brokerages have adjusted their price targets for Delek US, with Citigroup setting a target of $30.00 and numerous analysts giving a "neutral" rating.
• The company recently announced a quarterly dividend of $0.255 per share, resulting in an annualized dividend yield of 3.6%.

Shares of Delek US Holdings, Inc. (NYSE:DK - Get Free Report) reached a new 52-week high on Tuesday after UBS Group raised their price target on the stock from $24.00 to $29.00. UBS Group currently has a neutral rating on the stock. Delek US traded as high as $28.36 and last traded at $28.31, with a volume of 43799 shares. The stock had previously closed at $27.71.

A number of other brokerages also recently commented on DK. Piper Sandler increased their price target on Delek US from $17.00 to $27.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company increased their price target on Delek US from $11.00 to $15.00 and gave the company an "underweight" rating in a research report on Wednesday, June 11th. Scotiabank reaffirmed a "sector perform" rating and set a $20.00 price target (up from $14.00) on shares of Delek US in a research report on Friday, July 11th. Citigroup reaffirmed a "neutral" rating and set a $30.00 price target (up from $15.00) on shares of Delek US in a research report on Wednesday, July 16th. Finally, Mizuho raised Delek US from a "neutral" rating to an "outperform" rating and increased their price target for the company from $22.00 to $23.00 in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat, Delek US has a consensus rating of "Reduce" and an average price target of $21.67.

Hedge Funds Weigh In On Delek US

Several institutional investors and hedge funds have recently bought and sold shares of DK. First Trust Advisors LP grew its holdings in Delek US by 114.9% during the fourth quarter. First Trust Advisors LP now owns 121,037 shares of the oil and gas company's stock valued at $2,239,000 after purchasing an additional 64,725 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Delek US by 21.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 54,042 shares of the oil and gas company's stock worth $1,000,000 after acquiring an additional 9,600 shares in the last quarter. Northern Trust Corp lifted its position in shares of Delek US by 8.0% during the fourth quarter. Northern Trust Corp now owns 903,840 shares of the oil and gas company's stock worth $16,721,000 after acquiring an additional 66,815 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Delek US during the fourth quarter worth $209,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Delek US during the fourth quarter worth $532,000. 97.01% of the stock is owned by institutional investors.

Delek US Trading Up 3.6%

The stock has a market cap of $1.73 billion, a PE ratio of -2.33 and a beta of 1.09. The firm has a 50-day simple moving average of $23.39 and a 200-day simple moving average of $18.74. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 10.48.

Delek US (NYSE:DK - Get Free Report) last posted its earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.36. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.68 billion. Delek US had a negative return on equity of 79.27% and a negative net margin of 7.11%.The business's quarterly revenue was down 16.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.92) earnings per share. Equities analysts forecast that Delek US Holdings, Inc. will post -5.5 earnings per share for the current year.

Delek US Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 11th were given a dividend of $0.255 per share. The ex-dividend date was Monday, August 11th. This represents a $1.02 annualized dividend and a dividend yield of 3.6%. Delek US's dividend payout ratio is currently -8.30%.

Delek US Company Profile

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through Refining, Logistics, and Retail segments. 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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