Delek US (NYSE:DK) Sees Strong Trading Volume – Here’s Why

Delek US Holdings, Inc. (NYSE:DK) shares saw an uptick in trading volume on Friday. 3,674,300 shares were traded during trading, an increase of 137% from the previous session’s volume of 1,550,899 shares. The stock last traded at $66.1450 and had previously closed at $66.91.

Wall Street Analyst Weigh In

DK has been the topic of a number of research reports. 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 note on Tuesday, September 1st. Zacks Research upgraded Delek US from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. Raymond James Financial upped their target price on Delek US from $72.00 to $90.00 and gave the stock an “outperform” rating in a research report on Monday, September 14th. JPMorgan Chase & Co. increased their target price on Delek US from $57.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Finally, Morgan Stanley lifted their price target on shares of Delek US from $45.00 to $81.00 and gave the company an “equal weight” rating in a research report on Monday, September 14th. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.45.

Delek US Price Performance

The company has a market capitalization of $4.06 billion, a P/E ratio of 18.59, a price-to-earnings-growth ratio of 0.36 and a beta of 0.59. The business’s 50-day moving average is $69.04 and its two-hundred day moving average is $53.89. The company has a quick ratio of 0.47, a current ratio of 0.76 and a debt-to-equity ratio of 7.53.

Delek US (NYSE:DK) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $2.81. The firm had revenue of $4.09 billion for 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%.The business’s revenue was up 47.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.56) earnings per share. As a group, analysts predict that Delek US Holdings, Inc. will post 16.06 earnings per share for the current year.

Delek US Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a dividend of $0.2550 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.02 annualized dividend and a yield of 1.5%. Delek US’s dividend payout ratio (DPR) is currently 28.65%.

Insiders Place Their Bets

In other Delek US news, EVP Reuven Spiegel sold 7,500 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $73.21, for a total transaction of $549,075.00. Following the transaction, the executive vice president directly owned 28,935 shares in the company, valued at $2,118,331.35. This trade represents a 20.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the director directly owned 26,407 shares of the company’s stock, valued at $1,888,100.50. This represents a 19.50% decrease in their ownership of the stock. 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. Insiders sold a total of 168,377 shares of company stock valued at $11,339,985 over the last three months. Corporate insiders own 3.56% of the company’s stock.

Institutional Investors Weigh In On Delek US

A number of large investors have recently made changes to their positions in DK. BlackRock Inc. bought a new position in Delek US in the second quarter worth about $275,233,000. Arrowstreet Capital Limited Partnership grew its stake in Delek US by 26.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,596,093 shares of the oil and gas company’s stock worth $71,936,000 after purchasing an additional 335,892 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Delek US by 19.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,136,720 shares of the oil and gas company’s stock worth $51,232,000 after purchasing an additional 181,820 shares during the period. Norges Bank bought a new position in Delek US in the fourth quarter worth $48,374,000. Finally, Bank of America Corp DE raised its holdings in Delek US by 118.0% in the first quarter. Bank of America Corp DE now owns 846,204 shares of the oil and gas company’s stock worth $38,138,000 after purchasing an additional 458,004 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

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.