Delek US (NYSE:DK) Shares Up 5.8% on Analyst Upgrade

Delek US Holdings, Inc. (NYSE:DK)’s share price traded 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. Approximately 687,260 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 1,571,091 shares. The stock had previously closed at $42.34.

Other research analysts have also issued research reports about the company. Piper Sandler reduced 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. UBS Group boosted their price objective on shares of Delek US from $31.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, November 18th. Wall Street Zen upgraded shares of Delek US from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Delek US in a research report on Wednesday, January 21st. Finally, Citigroup decreased their price target on shares of Delek US from $37.00 to $33.00 and set a “neutral” rating on the stock in a report on Monday, January 26th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Delek US presently has a consensus rating of “Hold” and an average price target of $39.69.

Insider Buying and Selling

In other Delek US news, Director William J. Finnerty sold 5,392 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $42.75, for a total value of $230,508.00. Following the completion of the sale, the director owned 46,369 shares in the company, valued at approximately $1,982,274.75. The trade was a 10.42% 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, EVP Denise Clark Mcwatters sold 11,988 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $41.33, for a total value of $495,464.04. Following the sale, the executive vice president directly owned 74,196 shares of the company’s stock, valued at approximately $3,066,520.68. This trade represents a 13.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 159,752 shares of company stock worth $6,692,131 in the last ninety days. 3.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Delek US

Several institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. grew its holdings in Delek US by 1,327.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,955 shares of the oil and gas company’s stock worth $58,000 after acquiring an additional 1,818 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Delek US by 350.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,037 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 1,585 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Delek US by 28.5% during the fourth quarter. Invesco Ltd. now owns 252,108 shares of the oil and gas company’s stock worth $7,478,000 after purchasing an additional 55,941 shares during the period. Mackenzie Financial Corp grew its stake in shares of Delek US by 631.7% in the fourth quarter. Mackenzie Financial Corp now owns 54,234 shares of the oil and gas company’s stock worth $1,619,000 after purchasing an additional 46,822 shares during the last quarter. Finally, XTX Topco Ltd increased its holdings in Delek US by 357.6% during the 4th quarter. XTX Topco Ltd now owns 138,495 shares of the oil and gas company’s stock valued at $4,108,000 after purchasing an additional 108,231 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Delek US Price Performance

The company has a debt-to-equity ratio of 5.89, a quick ratio of 0.53 and a current ratio of 0.82. The business has a 50-day simple moving average of $34.00 and a 200 day simple moving average of $34.21. The firm has a market cap of $2.68 billion, a P/E ratio of -128.28 and a beta of 0.75.

Delek US (NYSE:DK) last posted its earnings results on Friday, February 27th. The oil and gas company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.63. The firm had revenue of $2.43 billion for 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 business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.54) earnings per share. On average, analysts anticipate that Delek US Holdings, Inc. will post -5.5 earnings per share for the current fiscal year.

Delek US Announces Dividend

The business also recently disclosed 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 of this dividend was Monday, March 2nd. Delek US’s payout ratio is presently -291.43%.

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.