Delek US (NYSE:DK) Trading Up 5.3% – Here’s What Happened

Delek US Holdings, Inc. (NYSE:DK) shares rose 5.3% on Wednesday . The company traded as high as $55.00 and last traded at $55.0990. 188,128 shares were traded during trading, a decline of 87% from the average daily volume of 1,406,428 shares. The stock had previously closed at $52.32.

Wall Street Analyst Weigh In

DK has been the subject of a number of research reports. Mizuho increased their price target on shares of Delek US from $54.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Wells Fargo & Company lifted their price objective on Delek US from $54.00 to $59.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Scotiabank upgraded Delek US to a “hold” rating in a report on Friday, March 27th. Zacks Research raised Delek US from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Citigroup raised their target price on Delek US from $33.00 to $44.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Delek US presently has an average rating of “Hold” and a consensus price target of $46.08.

Delek US Price Performance

The firm has a market cap of $3.36 billion, a P/E ratio of -60.19, a price-to-earnings-growth ratio of 0.32 and a beta of 0.58. The company has a debt-to-equity ratio of 10.51, a current ratio of 0.76 and a quick ratio of 0.49. The firm’s 50 day moving average is $46.08 and its 200 day moving average is $39.59.

Delek US (NYSE:DK) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $1.50. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter last year, the firm earned ($2.32) earnings per share. The business’s revenue for the quarter was up .4% on a year-over-year basis. As a group, analysts anticipate that Delek US Holdings, Inc. will post 5.58 earnings per share for the current year.

Delek US Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, May 1st were issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 1st. Delek US’s payout ratio is -112.09%.

Insider Transactions at Delek US

In other news, EVP Reuven Spiegel sold 10,000 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $44.36, for a total transaction of $443,600.00. Following the completion of the transaction, the executive vice president directly owned 48,372 shares in the company, valued at $2,145,781.92. This trade represents a 17.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J. Finnerty sold 5,000 shares of Delek US stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $51.50, for a total value of $257,500.00. Following the completion of the transaction, the director directly owned 34,805 shares of the company’s stock, valued at approximately $1,792,457.50. This represents a 12.56% 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. In the last 90 days, insiders sold 39,270 shares of company stock valued at $1,828,718. 3.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. ION Fund Management Ltd bought a new stake in shares of Delek US during the fourth quarter valued at approximately $52,427,000. Norges Bank bought a new position in Delek US in the 4th quarter valued at approximately $48,374,000. Arrowstreet Capital Limited Partnership boosted its stake in Delek US by 6,300.8% during the 3rd 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 purchasing an additional 1,285,861 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Delek US by 1,516.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 996,059 shares of the oil and gas company’s stock valued at $29,544,000 after purchasing an additional 934,448 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Delek US by 1,173.2% in 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 purchasing an additional 879,900 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

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.