Delek US (NYSE:DK) Shares Gap Up – Here’s Why

Delek US Holdings, Inc. (NYSE:DK) gapped up prior to trading on Tuesday . The stock had previously closed at $71.86, but opened at $75.53. Delek US shares last traded at $76.1890, with a volume of 169,024 shares.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DK. Mizuho boosted their price target on shares of Delek US from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Wells Fargo & Company increased their price objective on Delek US from $59.00 to $82.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 1st. TD Cowen lifted their price objective on Delek US from $58.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Citigroup restated a “neutral” rating on shares of Delek US in a research report on Thursday, August 6th. Finally, Wall Street Zen upgraded Delek US from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.09.

Delek US Trading Up 5.8%

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 firm has a market capitalization of $4.66 billion, a P/E ratio of 21.29, a price-to-earnings-growth ratio of 1.43 and a beta of 0.59. The firm’s 50-day simple moving average is $63.87 and its 200-day simple moving average is $50.44.

Delek US (NYSE:DK) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $2.81. The firm 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%. The business’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 firm earned ($0.56) EPS. Analysts anticipate that Delek US Holdings, Inc. will post 11.05 EPS for the current year.

Delek US Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 3rd. Delek US’s dividend payout ratio is currently 28.65%.

Insiders Place Their Bets

In other Delek US news, Director Gary Sullivan, Jr. sold 27,688 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $69.01, for a total transaction of $1,910,748.88. Following the sale, the director owned 32,004 shares in the company, valued at $2,208,596.04. This trade represents a 46.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Avigal Soreq sold 80,000 shares of Delek US 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 approximately $15,396,133.86. This trade represents a 25.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 153,645 shares of company stock valued at $10,248,392 over the last quarter. Insiders own 3.56% of the company’s stock.

Institutional Trading of Delek US

A number of hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its stake in shares of Delek US by 95.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 432 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Delek US in the 3rd quarter worth approximately $27,000. EverSource Wealth Advisors LLC boosted its stake 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 purchasing an additional 614 shares in the last quarter. Allworth Financial LP purchased a new stake in shares of Delek US in the 2nd quarter valued at $30,000. Finally, Focus Partners Wealth bought a new position in shares of Delek US during the 3rd quarter valued at $44,000. 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.