Insider Selling: Delek US (NYSE:DK) CEO Sells 50,000 Shares of Stock

Delek US Holdings, Inc. (NYSE:DK) CEO Avigal Soreq sold 50,000 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $41.08, for a total transaction of $2,054,000.00. Following the transaction, the chief executive officer owned 251,678 shares of the company’s stock, valued at approximately $10,338,932.24. The trade was a 16.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Delek US Stock Performance

Shares of DK traded up $1.54 during mid-day trading on Thursday, hitting $44.72. The stock had a trading volume of 2,748,057 shares, compared to its average volume of 1,591,014. The business has a fifty day moving average price of $32.13 and a 200-day moving average price of $33.17. The company has a debt-to-equity ratio of 5.89, a current ratio of 0.82 and a quick ratio of 0.58. Delek US Holdings, Inc. has a 52 week low of $11.02 and a 52 week high of $45.74. The firm has a market cap of $2.69 billion, a P/E ratio of -127.77 and a beta of 0.75.

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

Delek US Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 9th. Shareholders of record on Monday, March 2nd will be paid a $0.255 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.02 annualized dividend and a yield of 2.3%. Delek US’s payout ratio is currently -291.43%.

Analysts Set New Price Targets

Several research firms have weighed in on DK. Piper Sandler dropped their price objective on Delek US from $47.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. UBS Group lifted their price target on Delek US from $31.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, November 18th. Morgan Stanley decreased their price objective on Delek US from $40.00 to $38.00 and set an “equal weight” rating for the company in a report on Tuesday, January 27th. Wells Fargo & Company upped their target price on shares of Delek US from $43.00 to $53.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Finally, TD Cowen lifted their price target on shares of Delek US from $28.00 to $44.00 and gave the company a “hold” rating in a research report on Thursday. Four 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $39.46.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH boosted its stake in shares of Delek US by 40.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,474,083 shares of the oil and gas company’s stock worth $47,569,000 after acquiring an additional 423,017 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new position in Delek US in the 3rd quarter worth $1,338,000. Federated Hermes Inc. purchased a new position in Delek US during the third quarter valued at $5,416,000. Quantbot Technologies LP purchased a new position in shares of Delek US during the 2nd quarter valued at about $1,089,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Delek US during the second quarter valued at $454,000. Institutional investors own 97.01% of the company’s stock.

About Delek US

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.