Delek US (NYSE:DK) Hits New 1-Year High Following Analyst Upgrade

Shares of Delek US Holdings, Inc. (NYSE:DK) reached a new 52-week high during trading on Monday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $52.30 and last traded at $51.04, with a volume of 107386 shares changing hands. The stock had previously closed at $47.82.

Several other research analysts have also commented on the stock. The Goldman Sachs Group upgraded shares of Delek US from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $43.00 to $55.00 in a research note on Friday, April 10th. Mizuho raised their target price on shares of Delek US from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Raymond James Financial lifted their price target on shares of Delek US from $47.00 to $54.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Morgan Stanley upped their price target on Delek US from $41.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Friday, June 12th. Finally, Citigroup increased their price objective on Delek US from $33.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Delek US has an average rating of “Hold” and an average price target of $46.08.

Insider Activity at Delek US

In related news, EVP Robert G. Wright sold 10,720 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $47.07, for a total value of $504,590.40. Following the completion of the transaction, the executive vice president owned 48,148 shares in the company, valued at $2,266,326.36. This trade represents a 18.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Laurie Z. Tolson sold 4,921 shares of Delek US stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $46.30, for a total value of $227,842.30. Following the sale, the director directly owned 18,226 shares of the company’s stock, valued at approximately $843,863.80. This represents a 21.26% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 34,270 shares of company stock worth $1,571,218. Corporate insiders own 3.56% of the company’s stock.

Institutional Investors Weigh In On Delek US

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Delek US by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company’s stock valued at $187,773,000 after buying an additional 38,577 shares during the period. Mercuria Capital Strategies LLC purchased a new stake in shares of Delek US during the 3rd quarter worth about $8,755,000. Burney Co. acquired a new stake in shares of Delek US during the 4th quarter valued at about $2,198,000. Williamson Legacy Group LLC acquired a new stake in Delek US in the fourth quarter valued at approximately $1,095,000. Finally, Highbridge Capital Management LLC acquired a new position in shares of Delek US during the 4th quarter worth approximately $1,093,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Delek US Stock Down 1.4%

The stock has a market cap of $3.12 billion, a PE ratio of -55.89, a price-to-earnings-growth ratio of 0.33 and a beta of 0.60. The company has a current ratio of 0.76, a quick ratio of 0.49 and a debt-to-equity ratio of 10.51. The business has a 50-day moving average price of $44.72 and a 200-day moving average price of $38.90.

Delek US (NYSE:DK) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 EPS for the quarter, topping the consensus estimate of ($1.42) by $1.50. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.33 billion. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. The firm’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.32) EPS. As a group, analysts forecast that Delek US Holdings, Inc. will post 5.27 earnings per share for the current year.

Delek US Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, May 1st were given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, May 1st. Delek US’s dividend payout ratio is -112.09%.

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.