Delek US (NYSE:DK) Stock Price Down 6.6% – Here’s Why

Shares of Delek US Holdings, Inc. (NYSE:DK) were down 6.6% during trading on Monday . The stock traded as low as $67.09 and last traded at $66.7560. 399,370 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 1,397,351 shares. The stock had previously closed at $71.47.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley increased their price objective on Delek US from $41.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Friday, June 12th. Zacks Research upgraded shares of Delek US from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 26th. The Goldman Sachs Group upped their target price on shares of Delek US from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. JPMorgan Chase & Co. increased their target price on shares of Delek US from $57.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Finally, Mizuho lifted their price target on shares of Delek US from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Delek US presently has a consensus rating of “Hold” and an average price target of $53.15.

Delek US Price Performance

The company has a quick ratio of 0.47, a current ratio of 0.76 and a debt-to-equity ratio of 7.53. The stock’s 50-day moving average price is $58.01 and its 200-day moving average price is $47.54. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 1.55 and a beta of 0.57.

Delek US (NYSE:DK) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $2.81. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same quarter last year, the business posted ($0.56) earnings per share. Delek US’s revenue for the quarter was up 47.9% compared to the same quarter last year. Equities research analysts anticipate that Delek US Holdings, Inc. will post 10.1 earnings per share for the current year.

Delek US Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were given a dividend of $0.255 per share. The ex-dividend date was Monday, August 3rd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.5%. Delek US’s payout ratio is presently 28.65%.

Insider Buying and Selling at Delek US

In related news, EVP Mark Wayne Hobbs sold 20,000 shares of Delek US stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $64.59, for a total value of $1,291,800.00. Following the completion of the sale, the executive vice president directly owned 104,326 shares in the company, valued at $6,738,416.34. This trade represents a 16.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Avigal Soreq sold 80,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $66.51, for a total value of $5,320,800.00. Following the sale, the chief executive officer directly owned 231,486 shares of the company’s stock, valued at $15,396,133.86. This represents a 25.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 123,629 shares of company stock valued at $7,947,385 over the last ninety days. Company insiders own 3.56% of the company’s stock.

Institutional Trading of Delek US

Several institutional investors and hedge funds have recently made changes to their positions in DK. Caitong International Asset Management Co. Ltd raised its position in shares of Delek US by 95.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 432 shares during the period. Brown Brothers Harriman & Co. bought a new position in shares of Delek US during the third quarter worth $27,000. EverSource Wealth Advisors LLC grew its holdings in shares of Delek US by 173.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 614 shares during the period. Allworth Financial LP acquired a new position in shares of Delek US in the 2nd quarter valued at $30,000. Finally, Torren Management LLC bought a new stake in shares of Delek US in the 4th quarter valued at $40,000. 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.