Delek US (NYSE:DK) had its target price increased by investment analysts at Morgan Stanley from $44.00 to $53.00 in a note issued to investors on Monday. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Morgan Stanley’s price target would suggest a potential upside of 15.92% from the company’s previous close.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Delek US from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Scotiabank reiterated a “buy” rating and issued a $43.00 target price on shares of Delek US in a research note on Wednesday, January 10th. Royal Bank of Canada reiterated a “buy” rating and issued a $41.00 target price on shares of Delek US in a research note on Tuesday, January 30th. Citigroup lifted their target price on shares of Delek US from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Finally, Deutsche Bank lifted their target price on shares of Delek US from $43.00 to $46.00 and gave the company a “hold” rating in a research note on Monday, March 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $40.53.
Shares of DK opened at $45.72 on Monday. The stock has a market cap of $3,715.94, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 1.79 and a beta of 1.43. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.98 and a quick ratio of 0.68. Delek US has a 12 month low of $20.65 and a 12 month high of $45.95.
Delek US declared that its board has authorized a stock repurchase program on Monday, February 26th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the oil and gas company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Daniel L. Gordon sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $37.57, for a total value of $93,925.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin L. Kremke sold 3,400 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $37.01, for a total transaction of $125,834.00. The disclosure for this sale can be found here. Insiders sold a total of 210,109 shares of company stock valued at $7,832,256 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Macquarie Group Ltd. acquired a new stake in Delek US during the 3rd quarter worth $273,000. Deutsche Bank AG grew its holdings in Delek US by 276.9% during the 4th quarter. Deutsche Bank AG now owns 854,054 shares of the oil and gas company’s stock worth $29,838,000 after acquiring an additional 627,451 shares during the period. Swiss National Bank grew its holdings in Delek US by 2.4% during the 4th quarter. Swiss National Bank now owns 123,419 shares of the oil and gas company’s stock worth $4,312,000 after acquiring an additional 2,900 shares during the period. BlackRock Inc. grew its holdings in Delek US by 3.1% during the 4th quarter. BlackRock Inc. now owns 5,148,200 shares of the oil and gas company’s stock worth $179,880,000 after acquiring an additional 154,903 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Delek US by 371.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 458,456 shares of the oil and gas company’s stock worth $12,254,000 after acquiring an additional 361,162 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece was reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this piece on another site, it was copied illegally and republished in violation of United States and international copyright and trademark law. The original version of this piece can be accessed at https://www.chaffeybreeze.com/2018/04/17/delek-us-dk-given-a-53-00-price-target-at-morgan-stanley.html.
Delek US Company Profile
Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company's Refining segment processes crude oil and other purchased feedstocks 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 terminals.
Receive News & Ratings for Delek US Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delek US and related companies with MarketBeat.com's FREE daily email newsletter.