Delek US (NYSE:DK) CEO Avigal Soreq Sells 50,000 Shares of Stock

Delek US Holdings, Inc. (NYSE:DK) CEO Avigal Soreq sold 50,000 shares of the firm’s 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 sale, the chief executive officer directly owned 251,678 shares in the company, valued at approximately $10,338,932.24. The trade was a 16.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Delek US Stock Performance

Shares of DK traded down $0.62 on Friday, reaching $44.17. The company’s stock had a trading volume of 232,065 shares, compared to its average volume of 1,583,727. The stock’s 50 day simple moving average is $32.13 and its two-hundred day simple moving average is $33.17. The stock has a market capitalization of $2.65 billion, a P/E ratio of -126.20 and a beta of 0.75. Delek US Holdings, Inc. has a 12-month low of $11.02 and a 12-month high of $45.74. 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 (NYSE:DK) last posted its quarterly earnings data on Friday, February 27th. The oil and gas company reported $0.44 EPS for the quarter, topping the consensus estimate of ($0.19) by $0.63. The firm had revenue of $2.43 billion for 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%.The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned ($2.54) earnings per share. Research analysts forecast that Delek US Holdings, Inc. will post -5.5 earnings per share for the current fiscal year.

Delek US Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, March 2nd will be given a $0.255 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.3%. Delek US’s dividend payout ratio (DPR) is presently -291.43%.

Institutional Trading of Delek US

Hedge funds have recently modified their holdings of the business. Allianz Asset Management GmbH increased its position in 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 purchasing an additional 423,017 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Delek US during the 3rd quarter worth $1,338,000. Federated Hermes Inc. acquired a new stake in shares of Delek US during the third quarter worth $5,416,000. Quantbot Technologies LP acquired a new stake in shares of Delek US during the second quarter worth $1,089,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Delek US in the second quarter valued at $454,000. 97.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on DK. Citigroup lowered their target price on shares of Delek US from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, January 26th. Morgan Stanley dropped their price objective on Delek US from $40.00 to $38.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 27th. Scotiabank set a $34.00 target price on Delek US in a research note on Friday, January 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Delek US in a research note on Wednesday, January 21st. Finally, TD Cowen upped their price target on shares of Delek US from $28.00 to $44.00 and gave the stock a “hold” rating in a research report on Thursday. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Delek US currently has a consensus rating of “Hold” and an average target price of $39.46.

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.