Delek US (NYSE:DK) Shares Gap Up After Analyst Upgrade

Delek US Holdings, Inc. (NYSE:DK)’s stock price gapped up before the market opened on Friday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The stock had previously closed at $32.29, but opened at $33.52. Delek US shares last traded at $32.99, with a volume of 83,662 shares changing hands.

Several other equities research analysts have also recently weighed in on DK. The Goldman Sachs Group upped their price objective on shares of Delek US from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th. Cowen raised shares of Delek US from a “sell” rating to a “hold” rating in a report on Friday, September 19th. UBS Group upped their price target on shares of Delek US from $24.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, September 2nd. TD Cowen upgraded Delek US from a “sell” rating to a “hold” rating and upped their target price for the stock from $15.00 to $28.00 in a research note on Friday, September 19th. Finally, Citigroup restated a “neutral” rating and set a $30.00 target price (up from $15.00) on shares of Delek US in a research note on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $27.69.

Insider Transactions at Delek US

In related news, CFO Robert G. Wright sold 7,135 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $29.24, for a total value of $208,627.40. Following the completion of the transaction, the chief financial officer owned 48,294 shares in the company, valued at $1,412,116.56. This trade represents a 12.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Delek US

Several large investors have recently modified their holdings of the business. CWM LLC raised its position in Delek US by 100.9% during the 1st quarter. CWM LLC now owns 2,318 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 1,164 shares during the last quarter. AlphaQuest LLC raised its position in shares of Delek US by 7,331.8% during the second quarter. AlphaQuest LLC now owns 1,635 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 1,613 shares during the last quarter. Creative Financial Designs Inc. ADV bought a new position in shares of Delek US during the first quarter worth about $47,000. GAMMA Investing LLC raised its position in shares of Delek US by 907.0% during the first quarter. GAMMA Investing LLC now owns 4,159 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 3,746 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Delek US during the first quarter worth about $95,000. Institutional investors own 97.01% of the company’s stock.

Delek US Stock Down 0.1%

The company has a debt-to-equity ratio of 10.48, a current ratio of 0.80 and a quick ratio of 0.50. The stock has a 50-day moving average price of $27.13 and a 200-day moving average price of $21.31. The company has a market capitalization of $1.94 billion, a P/E ratio of -2.63 and a beta of 1.01.

Delek US (NYSE:DK) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.36. Delek US had a negative net margin of 7.11% and a negative return on equity of 79.27%. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same quarter last year, the business earned ($0.92) EPS. The company’s revenue was down 16.4% compared to the same quarter last year. On average, research analysts predict that Delek US Holdings, Inc. will post -5.5 EPS for the current fiscal year.

Delek US Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were given a $0.255 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.02 annualized dividend and a dividend yield of 3.2%. Delek US’s dividend payout ratio (DPR) is -8.30%.

About Delek US

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through Refining, Logistics, and Retail segments. The Refining segment processes crude oil and other feedstock for the manufacture of various grades of gasoline, diesel fuel, aviation fuel, asphalt, and other petroleum-based products that are distributed through owned and third-party product terminal.