Delek US (NYSE:DK) Reaches New 52-Week High – Here’s What Happened

Delek US Holdings, Inc. (NYSE:DK) shares reached a new 52-week high on Monday . The company traded as high as $57.57 and last traded at $57.3990, with a volume of 1053131 shares traded. The stock had previously closed at $55.51.

Wall Street Analyst Weigh In

DK has been the topic of several recent research reports. Raymond James Financial lifted their price target on Delek US from $47.00 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, March 25th. Citigroup raised their target price on Delek US from $33.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, April 13th. Morgan Stanley lifted their target price on Delek US from $41.00 to $45.00 and gave the company an “equal weight” rating in a research report on Friday, June 12th. Mizuho upped their price target on Delek US from $54.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, UBS Group increased their price target on Delek US from $42.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Delek US currently has a consensus rating of “Hold” and an average price target of $46.08.

Delek US Stock Up 4.6%

The stock has a fifty day moving average of $46.86 and a 200 day moving average of $40.12. 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 has a market capitalization of $3.56 billion, a P/E ratio of -63.54, a price-to-earnings-growth ratio of 0.34 and a beta of 0.58.

Delek US (NYSE:DK) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $1.50. The firm 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%.The business’s revenue was up .4% compared to the same quarter last year. During the same period last year, the firm posted ($2.32) EPS. On average, research analysts anticipate that Delek US Holdings, Inc. will post 5.6 EPS for the current fiscal year.

Delek US Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, May 1st were given a $0.255 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.02 annualized dividend and a yield of 1.8%. Delek US’s payout ratio is currently -112.09%.

Insiders Place Their Bets

In other news, EVP Reuven Spiegel sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $44.36, for a total transaction of $443,600.00. Following the completion of the sale, the executive vice president owned 48,372 shares in the company, valued at $2,145,781.92. This trade represents a 17.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky Sutil sold 1,871 shares of Delek US stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $48.00, for a total transaction of $89,808.00. Following the completion of the sale, the director directly owned 29,368 shares in the company, valued at $1,409,664. This trade represents a 5.99% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 39,270 shares of company stock valued at $1,828,718. Company insiders own 3.56% of the company’s stock.

Institutional Trading of Delek US

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Delek US by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company’s stock worth $187,773,000 after acquiring an additional 38,577 shares during the period. Ion Asset Management Ltd. raised its stake in Delek US by 1.8% in the 2nd quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company’s stock valued at $79,296,000 after acquiring an additional 67,490 shares during the period. State Street Corp lifted its holdings in Delek US by 3.4% during the fourth quarter. State Street Corp now owns 2,639,447 shares of the oil and gas company’s stock valued at $78,286,000 after purchasing an additional 87,846 shares during the last quarter. Morgan Stanley lifted its holdings in Delek US by 24.7% during the fourth quarter. Morgan Stanley now owns 2,033,037 shares of the oil and gas company’s stock valued at $60,300,000 after purchasing an additional 403,059 shares during the last quarter. Finally, ION Fund Management Ltd bought a new position in Delek US during the fourth quarter worth about $52,427,000. 97.01% of the stock is owned by hedge funds and other 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.