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

Delek US Holdings, Inc. (NYSE:DK)’s stock price 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 traded.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on DK shares. Mizuho raised their price objective on Delek US from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. boosted their target price on Delek US from $57.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. TD Cowen increased their target price on Delek US from $58.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Zacks Research upgraded Delek US from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Morgan Stanley lifted their price target on Delek US from $41.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Delek US presently has an average rating of “Moderate Buy” and a consensus price target of $59.09.

Delek US Stock Up 5.8%

The firm has a market cap of $4.66 billion, a PE ratio of 21.29, a PEG ratio of 1.43 and a beta of 0.59. The company has a debt-to-equity ratio of 7.53, a quick ratio of 0.47 and a current ratio of 0.76. The company’s 50-day simple moving average is $63.87 and its two-hundred day simple moving average is $50.44.

Delek US (NYSE:DK) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $2.81. The firm had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.44 billion. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The company’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.56) earnings per share. On average, analysts predict that Delek US Holdings, Inc. will post 11.05 earnings per share for the current fiscal year.

Delek US Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a $0.255 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.02 annualized dividend and a dividend yield of 1.3%. Delek US’s dividend payout ratio (DPR) is presently 28.65%.

Insider Activity at Delek US

In related news, CEO Avigal Soreq sold 80,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $66.51, for a total transaction of $5,320,800.00. Following the transaction, the chief executive officer owned 231,486 shares in the company, valued at $15,396,133.86. The trade was a 25.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary Sullivan, Jr. sold 27,688 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $69.01, for a total value of $1,910,748.88. Following the transaction, 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 disclosure for this sale is available in the SEC filing. Insiders have sold 153,645 shares of company stock worth $10,248,392 over the last 90 days. 3.56% of the stock is owned by insiders.

Hedge Funds Weigh In On Delek US

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