Delek US (NYSE:DK) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Delek US to “strong buy”, while other analysts also raised ratings and price targets. However, MarketBeat’s overall consensus remains “hold,” with an average target price of $51.92.
• Delek US reported strong quarterly results, posting $5.48 in EPS versus the $2.67 consensus estimate and $4.09 billion in revenue, up 47.9% year over year.
• Institutional ownership is high at 97.01%, with BlackRock and several other investors establishing new positions. Meanwhile, insiders sold 39,270 shares worth approximately $1.83 million over the past 90 days.

Delek US (NYSE:DK - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Sunday.

Several other equities analysts also recently issued reports on DK. Zacks Research raised Delek US from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 26th. Weiss Ratings raised Delek US from a "sell (d+)" rating to a "hold (c+)" rating in a research report on Thursday. Morgan Stanley boosted their price target on Delek US from $41.00 to $45.00 and gave the company an "equal weight" rating in a research note on Friday, June 12th. JPMorgan Chase & Co. raised their price objective on Delek US from $57.00 to $62.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 14th. Finally, The Goldman Sachs Group lifted their target price on Delek US from $58.00 to $73.00 and gave the stock a "buy" rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $51.92.

Delek US Stock Down 0.5%

DK stock opened at $58.38 on Friday. The stock has a market capitalization of $3.57 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.54 and a beta of 0.57. Delek US has a 52 week low of $20.06 and a 52 week high of $68.93. The company has a quick ratio of 0.49, a current ratio of 0.76 and a debt-to-equity ratio of 7.53. The firm has a 50 day moving average of $54.24 and a 200 day moving average of $44.75.

Delek US (NYSE:DK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.67 by $2.81. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $3.44 billion. Delek US had a net margin of 1.86% and a return on equity of 109.03%. Delek US's revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.56) EPS. Sell-side analysts forecast that Delek US will post 9.03 earnings per share for the current year.

Insider Transactions at Delek US

In related news, Director William J. Finnerty sold 5,000 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $51.50, for a total transaction of $257,500.00. Following the sale, the director directly owned 34,805 shares of the company's stock, valued at approximately $1,792,457.50. This represents a 12.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky Sutil sold 1,871 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $48.00, for a total value of $89,808.00. Following the completion of the sale, the director directly owned 29,368 shares in the company, valued at approximately $1,409,664. The trade was a 5.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 39,270 shares of company stock valued at $1,828,718. 3.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Delek US during the 2nd quarter worth $275,233,000. Deutsche Bank AG acquired a new position in Delek US in the second quarter valued at about $11,447,000. Alberta Investment Management Corp acquired a new position in Delek US in the second quarter valued at about $4,624,000. Bank of New York Mellon Corp acquired a new stake in shares of Delek US during the second quarter valued at about $19,760,000. Finally, State of Wyoming acquired a new stake in shares of Delek US during the second quarter valued at about $501,000. Hedge funds and other institutional investors own 97.01% of the company's stock.

About Delek US

Delek US Holdings, Inc NYSE: DK is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.

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