Delek US (NYSE:DK) Stock Price Up 5.1% – Here’s What Happened

Delek US Holdings, Inc. (NYSE:DK)’s share price rose 5.1% during mid-day trading on Wednesday . The stock traded as high as $70.17 and last traded at $71.0610. Approximately 449,321 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 1,396,483 shares. The stock had previously closed at $67.59.

Analysts Set New Price Targets

A number of research firms have weighed in on DK. Raymond James Financial boosted their target price on shares of Delek US from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. TD Cowen raised their price target on shares of Delek US from $58.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded shares of Delek US from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 9th. The Goldman Sachs Group boosted their price objective on shares of Delek US from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Finally, JPMorgan Chase & Co. increased their price objective on Delek US from $57.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $53.15.

Delek US Trading Down 0.6%

The business has a 50 day moving average of $60.10 and a two-hundred day moving average of $48.55. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 19.78, a P/E/G ratio of 1.54 and a beta of 0.57. The company has a debt-to-equity ratio of 7.53, a quick ratio of 0.47 and a current ratio of 0.76.

Delek US (NYSE:DK) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $5.48 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $2.81. Delek US had a return on equity of 109.03% and a net margin of 1.86%.The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter last year, the firm posted ($0.56) earnings per share. The company’s revenue for the quarter was up 47.9% compared to the same quarter last year. Equities analysts predict that Delek US Holdings, Inc. will post 10.1 EPS for the current year.

Delek US Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a $0.255 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.02 annualized dividend and a yield of 1.4%. Delek US’s dividend payout ratio (DPR) is presently 28.65%.

Insider Buying and Selling

In related news, Director Gary M. Jr. Sullivan sold 27,688 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $69.01, for a total transaction of $1,910,748.88. Following the transaction, the director directly owned 32,004 shares in the company, valued at approximately $2,208,596.04. The trade was a 46.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Avigal Soreq sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $66.51, for a total value of $5,320,800.00. Following the completion of the transaction, the chief executive officer owned 231,486 shares in the company, valued at $15,396,133.86. The trade was a 25.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 151,077 shares of company stock valued at $9,929,931. 3.56% of the stock is currently owned by company insiders.

Institutional Trading of Delek US

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new position in Delek US in the 2nd quarter valued at $275,233,000. California State Teachers Retirement System raised its stake in shares of Delek US by 4,681.3% during the 2nd quarter. California State Teachers Retirement System now owns 3,411,231 shares of the oil and gas company’s stock worth $173,325,000 after purchasing an additional 3,339,885 shares during the period. ION Fund Management Ltd purchased a new position in shares of Delek US in the 4th quarter worth about $52,427,000. Norges Bank purchased a new position in shares of Delek US in the 4th quarter worth about $48,374,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Delek US by 6,300.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,306,269 shares of the oil and gas company’s stock valued at $42,153,000 after buying an additional 1,285,861 shares during the period. 97.01% of the stock is currently owned by institutional investors.

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.