Delek US (NYSE:DK) Sets New 1-Year High – Here’s Why

Delek US Holdings, Inc. (NYSE:DK) reached a new 52-week high during trading on Wednesday . The stock traded as high as $43.57 and last traded at $43.30, with a volume of 816581 shares changing hands. The stock had previously closed at $40.93.

Analyst Upgrades and Downgrades

DK has been the topic of several research reports. Morgan Stanley lowered their price target on shares of Delek US from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 27th. TD Cowen lifted their price objective on shares of Delek US from $28.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Delek US in a research report on Wednesday, January 21st. Mizuho raised their price target on Delek US from $45.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Finally, Scotiabank set a $34.00 price objective on Delek US in a research note on Friday, January 16th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $39.46.

Delek US Stock Down 5.1%

The company has a market cap of $2.55 billion, a PE ratio of -121.49 and a beta of 0.75. The stock has a 50-day moving average of $32.13 and a 200-day moving average of $33.17. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 5.89.

Delek US (NYSE:DK) last posted its earnings results on Friday, February 27th. The oil and gas company reported $0.44 EPS for the quarter, topping the consensus estimate of ($0.19) by $0.63. Delek US had a negative return on equity of 13.55% and a negative net margin of 0.21%.The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the previous year, the business earned ($2.54) earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts predict that Delek US Holdings, Inc. will post -5.5 earnings per share for the current fiscal year.

Delek US Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 9th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.255 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.02 annualized dividend and a yield of 2.4%. Delek US’s payout ratio is presently -291.43%.

Insider Buying and Selling

In other Delek US news, CEO Avigal Soreq sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $41.08, for a total value of $2,054,000.00. Following the completion of the transaction, the chief executive officer owned 251,678 shares of the company’s stock, valued at $10,338,932.24. The trade was a 16.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Delek US

A number of hedge funds have recently made changes to their positions in the stock. ION Fund Management Ltd purchased a new stake in Delek US during the fourth quarter valued at about $52,427,000. Norges Bank purchased a new position in shares of Delek US during the 4th quarter valued at about $48,374,000. Arrowstreet Capital Limited Partnership lifted its position in Delek US by 6,300.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,306,269 shares of the oil and gas company’s stock worth $42,153,000 after buying an additional 1,285,861 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Delek US by 1,516.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 996,059 shares of the oil and gas company’s stock worth $29,544,000 after buying an additional 934,448 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Delek US by 1,173.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 954,900 shares of the oil and gas company’s stock valued at $28,322,000 after acquiring an additional 879,900 shares during the last quarter. 97.01% of the stock is owned by institutional investors.

Delek US Company Profile

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.