Delek US (NYSE:DK) Shares Up 5.1% – What’s Next?

Delek US Holdings, Inc. (NYSE:DK)’s share price rose 5.1% during mid-day trading on Wednesday . The stock traded as high as $70.17 and last traded at $71.0610. 449,321 shares traded hands during trading, a decline of 68% from the average session volume of 1,396,483 shares. The stock had previously closed at $67.59.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DK. TD Cowen raised their price objective on shares of Delek US from $58.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Zacks Research raised Delek US from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 26th. Wall Street Zen upgraded Delek US from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 9th. The Goldman Sachs Group upped their price objective on Delek US from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Finally, Mizuho increased their price objective on Delek US from $60.00 to $66.00 and gave the company an “outperform” rating in a research 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 given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $53.15.

Delek US Stock Performance

The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53. The company’s fifty day moving average is $58.95 and its 200 day moving average is $48.05. The company has a market cap of $4.38 billion, a P/E ratio of 20.15, a price-to-earnings-growth ratio of 1.48 and a beta of 0.57.

Delek US (NYSE:DK) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $3.44 billion. During the same period in the previous year, the firm posted ($0.56) earnings per share. The firm’s revenue for the quarter was up 47.9% on a year-over-year basis. As a group, equities analysts predict that Delek US Holdings, Inc. will post 10.1 earnings per share for the current fiscal year.

Delek US Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were given a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.02 annualized dividend and a yield of 1.4%. Delek US’s dividend payout ratio is presently 28.65%.

Insider Activity at Delek US

In related news, EVP Mark Wayne Hobbs sold 20,000 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $64.59, for a total transaction of $1,291,800.00. Following the transaction, the executive vice president owned 104,326 shares in the company, valued at $6,738,416.34. The trade was a 16.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Avigal Soreq sold 80,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $66.51, for a total transaction of $5,320,800.00. Following the completion of the sale, the chief executive officer owned 231,486 shares of the company’s stock, valued at $15,396,133.86. This trade represents a 25.68% decrease in their ownership of the stock. 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 127,086 shares of company stock worth $8,183,753 over the last 90 days. 3.56% of the stock is owned by insiders.

Institutional Investors Weigh In On Delek US

Hedge funds have recently made changes to their positions in the company. Thoroughbred Financial Services LLC lifted its position in Delek US by 1.3% during the fourth quarter. Thoroughbred Financial Services LLC now owns 27,164 shares of the oil and gas company’s stock valued at $805,000 after buying an additional 348 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Delek US by 1.8% in the fourth quarter. New York State Common Retirement Fund now owns 22,048 shares of the oil and gas company’s stock worth $654,000 after acquiring an additional 400 shares in the last quarter. Aster Capital Management DIFC Ltd raised its stake in shares of Delek US by 23.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,259 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 425 shares during the period. Caitong International Asset Management Co. Ltd raised its stake 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. Finally, Orion Porfolio Solutions LLC lifted its holdings in shares of Delek US by 2.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 23,244 shares of the oil and gas company’s stock valued at $492,000 after acquiring an additional 507 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

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.