Delek US (NYSE:DK) Trading 5.3% Higher – Here’s What Happened

Delek US Holdings, Inc. (NYSE:DK)’s share price was up 5.3% during mid-day trading on Wednesday . The stock traded as high as $55.00 and last traded at $55.0990. Approximately 188,128 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 1,406,428 shares. The stock had previously closed at $52.32.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Morgan Stanley lifted their price target on shares of Delek US from $41.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Friday, June 12th. Wall Street Zen raised shares of Delek US from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 18th. UBS Group upped their target price on Delek US from $42.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. Mizuho increased their price target on Delek US from $54.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, TD Cowen raised Delek US from a “hold” rating to a “buy” rating and upped their price objective for the company from $50.00 to $58.00 in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Delek US has an average rating of “Hold” and an average target price of $46.08.

Delek US Stock Up 1.9%

The stock has a market cap of $3.50 billion, a PE ratio of -63.01, a price-to-earnings-growth ratio of 0.34 and a beta of 0.58. The business has a fifty day moving average of $46.68 and a 200-day moving average of $39.94. The company has a debt-to-equity ratio of 10.51, a current ratio of 0.76 and a quick ratio of 0.49.

Delek US (NYSE:DK) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $1.50. Delek US had a positive return on equity of 22.90% and a negative net margin of 0.48%.The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the company posted ($2.32) EPS. Delek US’s revenue was up .4% on a year-over-year basis. Equities research analysts anticipate that Delek US Holdings, Inc. will post 5.58 earnings per share for the current year.

Delek US Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, May 1st were given a dividend of $0.255 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.02 dividend on an annualized basis and a yield of 1.8%. Delek US’s dividend payout ratio (DPR) is -112.09%.

Insiders Place Their Bets

In other news, EVP Reuven Spiegel sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $44.36, for a total value of $443,600.00. Following the completion of the sale, the executive vice president owned 48,372 shares of the company’s stock, valued at approximately $2,145,781.92. This represents a 17.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J. Finnerty sold 5,000 shares of Delek US stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $51.50, for a total transaction of $257,500.00. Following the transaction, the director directly owned 34,805 shares in the company, valued at approximately $1,792,457.50. The trade was a 12.56% 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. In the last 90 days, insiders have sold 39,270 shares of company stock worth $1,828,718. 3.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its position in 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 valued at $26,000 after purchasing an additional 432 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in Delek US in the third quarter worth about $27,000. EverSource Wealth Advisors LLC raised its holdings in Delek US by 173.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 614 shares in the last quarter. Torren Management LLC purchased a new stake in shares of Delek US during the fourth quarter valued at about $40,000. Finally, Focus Partners Wealth purchased a new stake in shares of Delek US during the third quarter valued at about $44,000. 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.