Delek US Holdings (DK) Gets a Buy Rating from Barclays


Barclays analyst Paul Cheng maintained a Buy rating on Delek US Holdings (DK) today and set a price target of $51. The company’s shares opened today at $37.10.

Cheng observed:

“We think DK’s 4Q18 results will have a neutral impact on the shares’ near-term performance. While adjusted EPS of $1.59 beat consensus of $1.25 and our $1.38 estimate, driven by stronger-than-expected throughput volume, we believe this was largely priced in headed into the print following stellar 4Q18 results for the other refiners (before the release, DK shares were +7% since the beginning of refining earnings season vs. peers +1%). However, while the quarter alone was nothing to get too excited about, in our opinion, Delek did send several key messages that were viewed positively and sent the shares another 6-7% higher on Wednesday (vs. peers +1%).”

According to TipRanks.com, Cheng is a 4-star analyst with an average return of 4.3% and a 54.0% success rate. Cheng covers the Basic Materials sector, focusing on stocks such as Petroleo Brasileiro SA- Petrobras, Marathon Petroleum Corporation, and Imperial Oil Limited.

Delek US Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $42.43.

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Based on Delek US Holdings’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $122 million. In comparison, last year the company had a net profit of $211 million.

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Delek US Holdings, Inc. is a diversified downstream energy company, which focuses on petroleum refining, the transportation, storage and wholesale distribution of crude oil, intermediate and refined products and convenience store retailing. It operates through following segments: Refining, Logistics and Retail.

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