Delek US (NYSE:DK) Trading Up 7.4% After Better-Than-Expected Earnings

Delek US Holdings, Inc. (NYSE:DK) shares rose 7.4% on Friday following a stronger than expected earnings report. The stock traded as high as $40.68 and last traded at $42.1080. Approximately 119,112 shares traded hands during trading, a decline of 93% from the average daily volume of 1,697,573 shares. The stock had previously closed at $39.21.

The oil and gas company reported $0.05 earnings per share (EPS) for the quarter. Delek US had a negative return on equity of 79.27% and a negative net margin of 7.11%.The business had revenue of $2.96 billion during the quarter.

Delek US Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 10th will be given a $0.255 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.4%. Delek US’s payout ratio is -8.30%.

Wall Street Analysts Forecast Growth

DK has been the subject of a number of research reports. Wolfe Research upgraded shares of Delek US from a “peer perform” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Wednesday, September 3rd. Scotiabank raised their target price on Delek US from $20.00 to $33.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Cowen raised Delek US from a “sell” rating to a “hold” rating in a research report on Friday, September 19th. Wells Fargo & Company began coverage on Delek US in a report on Friday, October 17th. They issued an “overweight” rating and a $43.00 price target on the stock. Finally, Piper Sandler boosted their price objective on Delek US from $29.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Delek US has an average rating of “Hold” and a consensus target price of $33.00.

Insider Buying and Selling at Delek US

In other Delek US news, CFO Robert G. Wright sold 7,135 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $29.24, for a total transaction of $208,627.40. Following the completion of the transaction, the chief financial officer owned 48,294 shares of the company’s stock, valued at approximately $1,412,116.56. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Delek US

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Comerica Bank raised its stake in Delek US by 96.3% in the first quarter. Comerica Bank now owns 40,336 shares of the oil and gas company’s stock valued at $608,000 after buying an additional 19,788 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of Delek US in the 1st quarter valued at about $13,728,000. Nisa Investment Advisors LLC increased its holdings in shares of Delek US by 1,548.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 13,270 shares of the oil and gas company’s stock valued at $200,000 after acquiring an additional 12,465 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of Delek US during the 1st quarter worth about $305,000. Finally, Hsbc Holdings PLC lifted its stake in Delek US by 6.8% during the first quarter. Hsbc Holdings PLC now owns 174,973 shares of the oil and gas company’s stock worth $2,677,000 after purchasing an additional 11,177 shares during the last quarter. Institutional investors own 97.01% of the company’s stock.

Delek US Stock Performance

The firm has a 50 day moving average of $33.36 and a two-hundred day moving average of $24.95. The company has a debt-to-equity ratio of 10.48, a current ratio of 0.80 and a quick ratio of 0.50. The stock has a market cap of $2.52 billion, a PE ratio of -3.40 and a beta of 0.99.

Delek US Company Profile

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through Refining, Logistics, and Retail segments. The Refining segment processes crude oil and other feedstock for the manufacture of various grades of gasoline, diesel fuel, aviation fuel, asphalt, and other petroleum-based products that are distributed through owned and third-party product terminal.