Delek US (NYSE:DK) Sets New 12-Month High – What’s Next?

Delek US Holdings, Inc. (NYSE:DK)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $49.17 and last traded at $48.1810, with a volume of 156599 shares traded. The stock had previously closed at $48.04.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Weiss Ratings raised Delek US from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, April 27th. UBS Group increased their target price on Delek US from $42.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, April 10th. Scotiabank upgraded Delek US to a “hold” rating in a report on Friday, March 27th. TD Cowen lowered their price objective on Delek US from $60.00 to $44.00 and set a “hold” rating for the company in a research report on Monday, April 27th. Finally, Morgan Stanley set a $41.00 price objective on Delek US in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $44.23.

Delek US Stock Performance

The business has a fifty day moving average of $41.70 and a 200-day moving average of $36.73. The company has a market cap of $3.02 billion, a PE ratio of -54.08, a P/E/G ratio of 0.43 and a beta of 0.63. The company has a current ratio of 0.76, a quick ratio of 0.49 and a debt-to-equity ratio of 10.51.

Delek US (NYSE:DK) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($1.42) by $1.50. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.33 billion. Delek US had a positive return on equity of 22.90% and a negative net margin of 0.48%.Delek US’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.32) EPS. Equities research analysts anticipate that Delek US Holdings, Inc. will post 3.66 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, May 1st will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Friday, May 1st. This represents a $1.02 dividend on an annualized basis and a yield of 2.1%. Delek US’s dividend payout ratio is presently -112.09%.

Insider Buying and Selling at Delek US

In related news, EVP Reuven Spiegel sold 20,000 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $42.84, for a total value of $856,800.00. Following the completion of the transaction, the executive vice president directly owned 48,530 shares of the company’s stock, valued at $2,079,025.20. This represents a 29.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Shlomo Zohar sold 22,029 shares of Delek US stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $44.83, for a total value of $987,560.07. Following the sale, the director directly owned 18,989 shares in the company, valued at approximately $851,276.87. The trade was a 53.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 172,095 shares of company stock worth $7,257,409 over the last three months. 3.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Delek US

Hedge funds have recently made changes to their positions in the company. Hillsdale Investment Management Inc. raised its holdings in Delek US by 60.1% in the first quarter. Hillsdale Investment Management Inc. now owns 215,390 shares of the oil and gas company’s stock worth $9,708,000 after purchasing an additional 80,850 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Delek US by 1,131.9% in the 1st quarter. Fifth Third Bancorp now owns 83,459 shares of the oil and gas company’s stock worth $3,762,000 after acquiring an additional 76,684 shares in the last quarter. Summit Securities Group LLC purchased a new position in Delek US during the 1st quarter valued at about $299,000. Meitav Investment House Ltd. bought a new stake in Delek US during the first quarter worth about $2,130,000. Finally, Meridian Investment Counsel Inc. purchased a new stake in Delek US in the first quarter worth about $225,000. 97.01% of the stock is currently owned by institutional investors.

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.