Delek US (NYSE:DK) Sets New 1-Year High – Here’s Why

Delek US Holdings, Inc. (NYSE:DK)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $54.17 and last traded at $52.5190, with a volume of 1138065 shares changing hands. The stock had previously closed at $52.61.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DK shares. Scotiabank raised shares of Delek US to a “hold” rating in a research note on Friday, March 27th. The Goldman Sachs Group raised shares of Delek US from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $43.00 to $55.00 in a research note on Friday, April 10th. Morgan Stanley upped their price objective on Delek US from $41.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, June 12th. Wall Street Zen raised Delek US from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 18th. Finally, Zacks Research upgraded Delek US from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $46.08.

Delek US Stock Performance

The stock’s 50-day moving average is $45.56 and its 200-day moving average is $39.29. The company has a current ratio of 0.76, a quick ratio of 0.49 and a debt-to-equity ratio of 10.51. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of -58.68, a P/E/G ratio of 0.32 and a beta of 0.58.

Delek US (NYSE:DK) last announced its quarterly 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 negative net margin of 0.48% and a positive return on equity of 22.90%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the previous year, the company posted ($2.32) earnings per share. Delek US’s revenue was up .4% compared to the same quarter last year. On average, analysts expect that Delek US Holdings, Inc. will post 5.58 EPS for the current year.

Delek US Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, May 1st were issued a dividend of $0.255 per share. The ex-dividend date was Friday, May 1st. This represents a $1.02 annualized dividend and a dividend yield of 1.9%. Delek US’s payout ratio is presently -112.09%.

Insider Activity

In related news, EVP Robert G. Wright sold 10,720 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $47.07, for a total value of $504,590.40. Following the completion of the sale, the executive vice president directly owned 48,148 shares in the company, valued at approximately $2,266,326.36. This represents a 18.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Reuven Spiegel sold 10,000 shares of the business’s 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 in the company, valued at approximately $2,145,781.92. This represents a 17.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 39,270 shares of company stock worth $1,828,718 in the last quarter. Insiders own 3.56% of the company’s stock.

Hedge Funds Weigh In On Delek US

A number of institutional investors and hedge funds have recently bought and sold shares of DK. Royal Bank of Canada lifted its position in shares of Delek US by 18.4% during the first quarter. Royal Bank of Canada now owns 278,774 shares of the oil and gas company’s stock worth $4,201,000 after purchasing an additional 43,379 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Delek US during the 1st quarter valued at $390,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Delek US by 3.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,190 shares of the oil and gas company’s stock valued at $560,000 after purchasing an additional 1,102 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Delek US by 3,979.8% during the 1st quarter. Jones Financial Companies Lllp now owns 20,399 shares of the oil and gas company’s stock worth $307,000 after buying an additional 19,899 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Delek US by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,871 shares of the oil and gas company’s stock worth $2,213,000 after buying an additional 9,827 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.

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.