Delek US (NYSE:DK) Shares Up 4.7% Following Analyst Upgrade

Delek US Holdings, Inc. (NYSE:DK) shot up 4.7% during trading on Tuesday after Raymond James Financial raised their price target on the stock from $72.00 to $90.00. Raymond James Financial currently has an outperform rating on the stock. Delek US traded as high as $77.79 and last traded at $77.9410. 267,228 shares traded hands during trading, a decline of 81% from the average daily volume of 1,442,439 shares. The stock had previously closed at $74.47.

DK has been the subject of a number of other reports. Wells Fargo & Company upped their price target on shares of Delek US from $59.00 to $82.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 1st. Wall Street Zen upgraded shares of Delek US from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 9th. The Goldman Sachs Group upped their target price 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. Mizuho increased their price target on Delek US from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Finally, Citigroup reissued a “neutral” rating on shares of Delek US in a report on Thursday, August 6th. One investment 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $65.45.

Insider Buying and Selling at Delek US

In other news, EVP Reuven Spiegel sold 7,500 shares of Delek US stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $73.21, for a total transaction of $549,075.00. Following the sale, the executive vice president owned 28,935 shares in the company, valued at $2,118,331.35. This trade represents a 20.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Vicky Sutil sold 6,397 shares of the company’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $71.50, for a total transaction of $457,385.50. Following the transaction, the director owned 26,407 shares of the company’s stock, valued at approximately $1,888,100.50. This represents a 19.50% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders own 3.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Delek US by 173.4% in the fourth 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 during the last quarter. Allworth Financial LP purchased a new stake in shares of Delek US in the second quarter worth about $30,000. Rockefeller Capital Management L.P. boosted its stake in Delek US by 1,327.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,955 shares of the oil and gas company’s stock valued at $58,000 after buying an additional 1,818 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Delek US by 350.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,037 shares of the oil and gas company’s stock valued at $60,000 after buying an additional 1,585 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in Delek US during the 2nd quarter valued at approximately $61,000. Institutional investors own 97.01% of the company’s stock.

Delek US Trading Up 4.7%

The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53. The stock has a 50 day simple moving average of $66.16 and a 200-day simple moving average of $51.89. The firm has a market cap of $4.77 billion, a P/E ratio of 21.93, a P/E/G ratio of 0.50 and a beta of 0.59.

Delek US (NYSE:DK) last posted its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $2.81. Delek US had a return on equity of 109.03% and a net margin of 1.86%.The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the prior year, the company earned ($0.56) EPS. The company’s quarterly revenue was up 47.9% compared to the same quarter last year. On average, equities research analysts expect that Delek US Holdings, Inc. will post 11.93 EPS for the current fiscal year.

Delek US Announces Dividend

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

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.