Delek US (NYSE:DK) Stock Jumps 3.8% – Here’s What Happened

Delek US Holdings, Inc. (NYSE:DK)’s share price traded up 3.8% during trading on Monday. The stock traded as high as $78.10 and last traded at $77.3630. Approximately 202,479 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 1,563,261 shares. The stock had previously closed at $74.51.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DK. Zacks Research upgraded Delek US from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 26th. Morgan Stanley lifted their price target on Delek US from $45.00 to $81.00 and gave the company an “equal weight” rating in a report on Monday, September 14th. TD Cowen upped their price objective on shares of Delek US from $76.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 14th. Mizuho reaffirmed a “neutral” rating and set a $83.00 price objective (up from $66.00) on shares of Delek US in a research note on Thursday, October 8th. Finally, Weiss Ratings upgraded shares of Delek US from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Delek US presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.58.

Delek US Price Performance

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 firm has a market cap of $4.95 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 0.39 and a beta of 0.62. The company’s fifty day moving average is $71.26 and its two-hundred day moving average is $56.73.

Delek US (NYSE:DK) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share 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 firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same period in the prior year, the company earned ($0.56) EPS. The firm’s revenue was up 47.9% on a year-over-year basis. Equities research analysts forecast that Delek US Holdings, Inc. will post 15.54 EPS for the current year.

Delek US Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were paid a dividend of $0.2550 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, August 3rd. Delek US’s payout ratio is currently 28.65%.

Insider Buying and Selling

In other news, Director William Finnerty sold 2,943 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $77.17, for a total value of $227,111.31. Following the completion of the sale, the director owned 30,405 shares of the company’s stock, valued at $2,346,353.85. This represents a 8.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Reuven Spiegel sold 7,500 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $73.21, for a total value of $549,075.00. Following the completion of the sale, the executive vice president owned 28,935 shares of the company’s stock, valued at approximately $2,118,331.35. This trade represents a 20.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 163,377 shares of company stock valued at $11,082,485. 3.56% of the stock is owned by insiders.

Hedge Funds Weigh In On Delek US

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Delek US during the second quarter valued at approximately $275,233,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Delek US by 26.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,596,093 shares of the oil and gas company’s stock valued at $71,936,000 after purchasing an additional 335,892 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Delek US by 19.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,136,720 shares of the oil and gas company’s stock valued at $51,232,000 after purchasing an additional 181,820 shares during the period. Bank of America Corp DE boosted its stake in shares of Delek US by 118.0% in the first quarter. Bank of America Corp DE now owns 846,204 shares of the oil and gas company’s stock valued at $38,138,000 after purchasing an additional 458,004 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Delek US during the 2nd quarter valued at $22,987,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Delek US Company Profile

Delek US Holdings, Inc is an independent downstream energy company headquartered in Brentwood, Tennessee. The company operates petroleum refineries and related logistics assets, producing transportation fuels and other refined petroleum products for commercial and wholesale customers.

Delek’s refining operations have included facilities in the U.S. Gulf Coast and Mid-Continent regions, with assets in Texas, Arkansas and Louisiana. Its products may include gasoline, diesel, jet fuel, asphalt and other refined products.