Delek US (NYSE:DK) Shares Gap Down – Time to Sell?

Delek US Holdings, Inc. (NYSE:DK) gapped down prior to trading on Tuesday . The stock had previously closed at $74.37, but opened at $71.96. Delek US shares last traded at $73.4920, with a volume of 205,822 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Zacks Research upgraded shares of Delek US from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. Weiss Ratings raised shares of Delek US from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Morgan Stanley boosted their price target 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, September 14th. Raymond James Financial upped their price objective on Delek US from $72.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, September 14th. Finally, Wells Fargo & Company increased their price objective on Delek US from $59.00 to $82.00 and gave the company an “overweight” rating in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $65.45.

Delek US Trading Up 1.2%

The company’s fifty day moving average is $68.43 and its two-hundred day moving average is $53.31. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 0.39 and a beta of 0.59. The company has a quick ratio of 0.47, a current ratio of 0.76 and a debt-to-equity ratio of 7.53.

Delek US (NYSE:DK) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $2.81. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter in the previous year, the firm earned ($0.56) earnings per share. The firm’s quarterly revenue was up 47.9% on a year-over-year basis. On average, research analysts predict that Delek US Holdings, Inc. will post 15.83 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. Stockholders of record on Monday, August 3rd were given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, August 3rd. Delek US’s payout ratio is 28.65%.

Insider Activity

In other Delek US news, Director Gary M. Jr. Sullivan sold 27,688 shares of Delek US 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 sale, the director directly owned 32,004 shares of the company’s stock, valued at $2,208,596.04. The trade was a 46.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Vicky Sutil sold 6,397 shares of Delek US stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $71.50, for a total value of $457,385.50. Following the sale, the director directly owned 26,407 shares of the company’s stock, valued at $1,888,100.50. This trade represents a 19.50% 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. In the last quarter, insiders have sold 168,377 shares of company stock valued at $11,339,985. Insiders own 3.56% of the company’s stock.

Institutional Investors Weigh In On Delek US

Several hedge funds and other institutional investors have recently made changes to their positions in DK. Tidal Investments LLC purchased a new stake in Delek US during the second quarter worth approximately $334,000. WINTON GROUP Ltd increased its stake in Delek US by 445.3% in the second quarter. WINTON GROUP Ltd now owns 57,800 shares of the oil and gas company’s stock valued at $2,937,000 after purchasing an additional 47,200 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Delek US in the second quarter valued at approximately $61,000. Squarepoint Ops LLC raised its holdings in Delek US by 110.9% during the second quarter. Squarepoint Ops LLC now owns 176,773 shares of the oil and gas company’s stock worth $8,982,000 after purchasing an additional 92,957 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in Delek US by 30.7% during the second quarter. Allworth Financial LP now owns 600 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 141 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.