Delek US (NYSE:DK) Sets New 1-Year High – Here’s Why

Shares of Delek US Holdings, Inc. (NYSE:DK) hit a new 52-week high during trading on Wednesday . The company traded as high as $79.58 and last traded at $78.88, with a volume of 383676 shares changing hands. The stock had previously closed at $78.14.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DK shares. Weiss Ratings upgraded shares of Delek US from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Morgan Stanley boosted their price target on Delek US from $45.00 to $81.00 and gave the company an “equal weight” rating in a report on Monday. Wells Fargo & Company upped their price target on Delek US from $59.00 to $82.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 1st. Mizuho raised their price objective on Delek US from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Finally, Raymond James Financial lifted their price objective on Delek US from $72.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.45.

Delek US Stock Performance

The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53. The business’s 50 day moving average is $67.65 and its two-hundred day moving average is $52.81. The company has a market cap of $4.99 billion, a PE ratio of 22.89, a PEG ratio of 0.39 and a beta of 0.59.

Delek US (NYSE:DK) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $2.81. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.44 billion. Delek US had a return on equity of 109.03% and a net margin of 1.86%.Delek US’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.56) EPS. On average, equities research analysts anticipate that Delek US Holdings, Inc. will post 15.83 EPS for the current year.

Delek US Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a dividend of $0.255 per share. The ex-dividend date was Monday, August 3rd. This represents a $1.02 annualized dividend and a dividend yield of 1.3%. Delek US’s dividend payout ratio (DPR) is currently 28.65%.

Insider Activity at Delek US

In other Delek US news, Director Gary M. Jr. Sullivan sold 27,688 shares of the stock in a transaction that occurred on 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 completion of the sale, the director directly owned 32,004 shares of the company’s stock, valued at $2,208,596.04. This trade represents a 46.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Vicky Sutil sold 6,397 shares of the business’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $71.50, for a total transaction of $457,385.50. Following the completion of the transaction, the director directly owned 26,407 shares in the company, valued at $1,888,100.50. This trade represents a 19.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 168,377 shares of company stock worth $11,339,985 in the last three months. Corporate insiders own 3.56% of the company’s stock.

Institutional Trading of Delek US

Several hedge funds have recently bought and sold shares of DK. Williamson Legacy Group LLC bought a new position in Delek US during the fourth quarter valued at approximately $1,095,000. Bank of America Corp DE grew its holdings in Delek US by 118.0% during the 1st quarter. Bank of America Corp DE now owns 846,204 shares of the oil and gas company’s stock valued at $38,138,000 after buying an additional 458,004 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in Delek US in the 4th quarter worth approximately $1,093,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Delek US by 1,173.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 954,900 shares of the oil and gas company’s stock worth $28,322,000 after acquiring an additional 879,900 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its holdings in shares of Delek US by 281.5% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 45,471 shares of the oil and gas company’s stock worth $2,049,000 after acquiring an additional 33,553 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Delek US Company Profile

Delek US Holdings, Inc (NYSE: DK) is a downstream energy company engaged primarily in petroleum refining, wholesale fuel marketing and logistics. The company produces transportation fuels and other refined petroleum products, including gasoline, diesel, jet fuel and asphalt.

Delek US operates refineries in the southern United States, including facilities in Texas, Arkansas and Louisiana. Its refining operations are supported by crude oil gathering, transportation, storage and other logistics activities conducted through Delek Logistics Partners, a publicly traded master limited partnership that is managed and partially owned by Delek US.

Founded in 2001 and headquartered in Brentwood, Tennessee, Delek US serves regional markets across the central and southeastern United States.