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

Delek US Holdings, Inc. (NYSE:DK) shares 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 changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DK. The Goldman Sachs Group raised their price target on shares of Delek US from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Wall Street Zen upgraded shares of Delek US from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 9th. Citigroup reissued a “neutral” rating on shares of Delek US in a research report on Thursday, August 6th. Zacks Research upgraded Delek US from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Wells Fargo & Company boosted their target price on Delek US from $59.00 to $82.00 and gave the company an “overweight” rating in a research report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.09.

Delek US Trading Down 0.7%

The stock has a market capitalization of $4.60 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 1.50 and a beta of 0.59. The firm has a 50-day moving average price of $64.81 and a 200-day moving average price of $51.02. The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53.

Delek US (NYSE:DK) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $5.48 EPS for the quarter, beating the consensus estimate of $2.67 by $2.81. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.44 billion. Delek US had a return on equity of 109.03% and a net margin of 1.86%.Delek US’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.56) earnings per share. As a group, equities analysts forecast that Delek US Holdings, Inc. will post 11.05 EPS for the current fiscal year.

Delek US Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid 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 payout ratio is currently 28.65%.

Insider Transactions at Delek US

In other news, Director Gary M. Jr. Sullivan sold 27,688 shares of the business’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 completion of the transaction, the director owned 32,004 shares of the company’s stock, valued at approximately $2,208,596.04. The trade was a 46.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Hobbs sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $64.59, for a total transaction of $1,291,800.00. Following the completion of the transaction, the executive vice president owned 104,326 shares in the company, valued at approximately $6,738,416.34. This trade represents a 16.09% 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. Over the last 90 days, insiders sold 160,042 shares of company stock worth $10,705,777. 3.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Delek US

A number of hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its stake in shares of Delek US by 95.6% during 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 purchasing an additional 432 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in Delek US in the 3rd quarter worth about $27,000. EverSource Wealth Advisors LLC raised its stake in Delek US by 173.4% during the 4th 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. Allworth Financial LP purchased a new stake in shares of Delek US during the 2nd quarter valued at about $30,000. Finally, Focus Partners Wealth bought a new position in Delek US in the 3rd quarter worth $44,000. 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.