Delek US (NYSE:DK) Shares Up 4.7% Following Analyst Upgrade

Delek US Holdings, Inc. (NYSE:DK) traded up 4.7% during trading on Tuesday after Raymond James Financial raised their price target on the stock from $72.00 to $90.00. Raymond James Financial currently has an outperform rating on the stock. Delek US traded as high as $77.79 and last traded at $77.9410. 267,228 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 1,442,439 shares. The stock had previously closed at $74.47.

A number of other analysts have also weighed in on the stock. Citigroup restated a “neutral” rating on shares of Delek US in a research note on Thursday, August 6th. Morgan Stanley upped their target price on shares of Delek US from $45.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Monday. Zacks Research raised shares of Delek US from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 26th. Wall Street Zen raised Delek US from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 9th. Finally, The Goldman Sachs Group increased their target price on Delek US from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.45.

Insider Activity

In related news, Director William J. Finnerty sold 1,457 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $64.70, for a total transaction of $94,267.90. Following the transaction, the director owned 33,348 shares in the company, valued at $2,157,615.60. This represents a 4.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard J. Marcogliese sold 2,000 shares of Delek US stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $71.05, for a total transaction of $142,100.00. Following the completion of the sale, the director directly owned 12,880 shares of the company’s stock, valued at approximately $915,124. This trade represents a 13.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 160,042 shares of company stock worth $10,705,777. 3.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Delek US

A number of institutional investors and hedge funds have recently modified their holdings of the company. Allworth Financial LP bought a new position in shares of Delek US in the 2nd quarter worth approximately $30,000. EverSource Wealth Advisors LLC increased its holdings in Delek US by 173.4% during the fourth 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 last quarter. Integrated Wealth Concepts LLC bought a new position in Delek US in the second quarter worth approximately $61,000. Rockefeller Capital Management L.P. boosted its stake in shares of Delek US by 1,327.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,955 shares of the oil and gas company’s stock worth $58,000 after acquiring an additional 1,818 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Delek US by 350.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,037 shares of the oil and gas company’s stock worth $60,000 after acquiring an additional 1,585 shares during the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Delek US Stock Performance

The company has a debt-to-equity ratio of 7.53, a quick ratio of 0.47 and a current ratio of 0.76. The stock has a market cap of $4.77 billion, a P/E ratio of 21.93, a P/E/G ratio of 0.50 and a beta of 0.59. The business’s 50-day moving average price is $66.16 and its 200-day moving average price is $51.89.

Delek US (NYSE:DK) last announced its 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. Delek US had a return on equity of 109.03% and a net margin of 1.86%.The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.44 billion. During the same period last year, the firm earned ($0.56) EPS. Delek US’s revenue for the quarter was up 47.9% compared to the same quarter last year. As a group, sell-side analysts expect that Delek US Holdings, Inc. will post 11.93 earnings per share for the current fiscal year.

Delek US Announces Dividend

The business also recently disclosed 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. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 3rd. Delek US’s payout ratio is presently 28.65%.

About Delek US

Delek US Holdings, Inc (NYSE: DK) is a downstream energy company engaged primarily in petroleum refining, wholesale fuel marketing and logistics. The company produces transportation fuels and other refined petroleum products, including gasoline, diesel, jet fuel and asphalt.

Delek US operates refineries in the southern United States, including facilities in Texas, Arkansas and Louisiana. Its refining operations are supported by crude oil gathering, transportation, storage and other logistics activities conducted through Delek Logistics Partners, a publicly traded master limited partnership that is managed and partially owned by Delek US.

Founded in 2001 and headquartered in Brentwood, Tennessee, Delek US serves regional markets across the central and southeastern United States.