Delek US (NYSE:DK) Trading 5.8% Higher Following Analyst Upgrade

Delek US Holdings, Inc. (NYSE:DK)’s share price shot up 5.8% on Wednesday after Mizuho raised their price target on the stock from $51.00 to $54.00. Mizuho currently has an outperform rating on the stock. Delek US traded as high as $44.50 and last traded at $44.79. 687,260 shares traded hands during trading, a decline of 56% from the average session volume of 1,571,091 shares. The stock had previously closed at $42.34.

Several other equities analysts also recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Delek US in a research note on Wednesday, January 21st. Scotiabank set a $34.00 price target on shares of Delek US in a report on Friday, January 16th. TD Cowen raised their price objective on Delek US from $28.00 to $44.00 and gave the company a “hold” rating in a report on Thursday, March 5th. Piper Sandler lowered their target price on Delek US from $47.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Finally, JPMorgan Chase & Co. cut their price target on Delek US from $42.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, January 15th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Delek US has an average rating of “Hold” and a consensus price target of $39.69.

Insider Buying and Selling

In other Delek US news, EVP Joseph Israel sold 38,000 shares of Delek US stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $40.65, for a total value of $1,544,700.00. Following the completion of the sale, the executive vice president directly owned 55,623 shares in the company, valued at approximately $2,261,074.95. The trade was a 40.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Shlomo Zohar sold 22,029 shares of Delek US stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $44.83, for a total transaction of $987,560.07. Following the completion of the sale, the director owned 18,989 shares of the company’s stock, valued at $851,276.87. This represents a 53.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 159,752 shares of company stock worth $6,692,131 over the last three months. Insiders own 3.56% of the company’s stock.

Institutional Trading of Delek US

Several institutional investors and hedge funds have recently modified their holdings of DK. Brown Brothers Harriman & Co. bought a new stake in Delek US during the third quarter worth $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in Delek US by 95.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 432 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Delek US by 173.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 614 shares during the last quarter. Torren Management LLC bought a new stake in shares of Delek US in the 4th quarter worth $40,000. Finally, Focus Partners Wealth bought a new stake in shares of Delek US in the 3rd quarter worth $44,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Delek US Stock Performance

The company has a debt-to-equity ratio of 5.89, a current ratio of 0.82 and a quick ratio of 0.53. The company’s fifty day moving average price is $34.00 and its 200 day moving average price is $34.21. The company has a market cap of $2.68 billion, a PE ratio of -128.28 and a beta of 0.75.

Delek US (NYSE:DK) last issued its quarterly earnings results on Friday, February 27th. The oil and gas company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.63. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.55 billion. Delek US had a negative return on equity of 13.55% and a negative net margin of 0.21%.Delek US’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the business posted ($2.54) earnings per share. On average, equities research analysts predict that Delek US Holdings, Inc. will post -5.5 earnings per share for the current year.

Delek US Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Monday, March 2nd. Delek US’s dividend payout ratio (DPR) is currently -291.43%.

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.