Morgan Stanley Upgrades Delek US (DK) to “Overweight”

Delek US (NYSE:DK) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $44.00 price objective on the oil and gas company’s stock. Morgan Stanley’s target price suggests a potential upside of 21.05% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Raymond James Financial raised shares of Delek US from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $32.00 to $35.00 in a research note on Monday, November 13th. Zacks Investment Research raised shares of Delek US from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective on the stock in a research note on Thursday, December 14th. Macquarie raised shares of Delek US from a “neutral” rating to an “outperform” rating in a research report on Monday, October 23rd. Wells Fargo & Co raised shares of Delek US from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Tuesday, November 14th. Finally, Howard Weil raised shares of Delek US from a “sector perform” rating to a “focus list” rating and raised their price target for the company from $26.00 to $41.00 in a research report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $34.79.

Delek US (NYSE:DK) traded up $0.10 during mid-day trading on Thursday, hitting $36.35. 555,600 shares of the stock traded hands, compared to its average volume of 992,871. The company has a market capitalization of $2,960.00, a P/E ratio of 4.35, a P/E/G ratio of 2.20 and a beta of 2.01. Delek US has a 12-month low of $20.65 and a 12-month high of $37.42.

In related news, Director David Wiessman sold 65,879 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $33.51, for a total transaction of $2,207,605.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Frederec Green sold 25,000 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $36.00, for a total transaction of $900,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 230,631 shares of company stock valued at $7,573,903. Corporate insiders own 1.61% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Quantbot Technologies LP purchased a new position in Delek US during the 3rd quarter valued at $114,000. Hanseatic Management Services Inc. grew its position in shares of Delek US by 18,606.3% in the 3rd quarter. Hanseatic Management Services Inc. now owns 5,986 shares of the oil and gas company’s stock worth $160,000 after buying an additional 5,954 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Delek US by 51.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 7,112 shares of the oil and gas company’s stock worth $188,000 after buying an additional 2,412 shares during the period. Amalgamated Bank purchased a new stake in shares of Delek US in the 2nd quarter worth about $207,000. Finally, ETRADE Capital Management LLC purchased a new stake in shares of Delek US in the 3rd quarter worth about $215,000. 93.19% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Delek US (NYSE:DK)

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