Delek US (NYSE:DK) Hits New 52-Week High on Analyst Upgrade

Delek US Holdings, Inc. (NYSE:DK)’s share price reached a new 52-week high during mid-day trading on Monday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $52.30 and last traded at $51.04, with a volume of 107386 shares changing hands. The stock had previously closed at $47.82.

Several other research firms have also recently weighed in on DK. Scotiabank upgraded shares of Delek US to a “hold” rating in a research report on Friday, March 27th. Morgan Stanley upped their target price on shares of Delek US from $41.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Friday, June 12th. Mizuho increased their price target on shares of Delek US from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Weiss Ratings cut shares of Delek US from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Finally, TD Cowen raised shares of Delek US from a “hold” rating to a “buy” rating and raised their price target for the company from $50.00 to $58.00 in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $46.08.

Insider Buying and Selling

In other Delek US news, EVP Reuven Spiegel sold 10,000 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $44.36, for a total value of $443,600.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Laurie Z. Tolson sold 4,921 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $46.30, for a total value of $227,842.30. Following the transaction, the director owned 18,226 shares of the company’s stock, valued at $843,863.80. The trade was a 21.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 34,270 shares of company stock worth $1,571,218. Company insiders own 3.56% of the company’s stock.

Institutional Investors Weigh In On Delek US

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Delek US by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company’s stock worth $187,773,000 after purchasing an additional 38,577 shares during the period. Mercuria Capital Strategies LLC acquired a new position in shares of Delek US in the 3rd quarter valued at approximately $8,755,000. Burney Co. acquired a new position in shares of Delek US in the 4th quarter valued at approximately $2,198,000. Williamson Legacy Group LLC bought a new stake in Delek US during the 4th quarter worth approximately $1,095,000. Finally, Highbridge Capital Management LLC bought a new stake in Delek US during the 4th quarter worth approximately $1,093,000. Institutional investors own 97.01% of the company’s stock.

Delek US Stock Down 1.4%

The company has a debt-to-equity ratio of 10.51, a quick ratio of 0.49 and a current ratio of 0.76. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of -55.89, a P/E/G ratio of 0.33 and a beta of 0.60. The firm’s fifty day simple moving average is $44.72 and its 200 day simple moving average is $38.90.

Delek US (NYSE:DK) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($1.42) by $1.50. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the prior year, the company earned ($2.32) earnings per share. The business’s quarterly revenue was up .4% compared to the same quarter last year. On average, sell-side analysts forecast that Delek US Holdings, Inc. will post 5.27 earnings per share for the current year.

Delek US Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, May 1st were given a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, May 1st. Delek US’s payout ratio is currently -112.09%.

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.