Delek US (NYSE:DK) Trading Up 7.4% Following Better-Than-Expected Earnings

Delek US Holdings, Inc. (NYSE:DK)’s share price rose 7.4% on Friday following a stronger than expected earnings report. The stock traded as high as $40.68 and last traded at $42.1080. Approximately 119,112 shares changed hands during trading, a decline of 93% from the average daily volume of 1,697,573 shares. The stock had previously closed at $39.21.

The oil and gas company reported $0.05 earnings per share (EPS) for the quarter. Delek US had a negative return on equity of 79.27% and a negative net margin of 7.11%.The firm had revenue of $2.96 billion for the quarter.

Delek US Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 10th will be paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Monday, November 10th. Delek US’s payout ratio is -8.30%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Piper Sandler lifted their price objective on Delek US from $29.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, September 11th. Citigroup restated a “neutral” rating and issued a $30.00 price target (up from $15.00) on shares of Delek US in a research note on Wednesday, July 16th. Bank of America upped their price objective on Delek US from $14.00 to $24.00 and gave the stock an “underperform” rating in a report on Wednesday, September 3rd. UBS Group raised their target price on Delek US from $24.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, September 2nd. Finally, Wells Fargo & Company assumed coverage on shares of Delek US in a research note on Friday, October 17th. They set an “overweight” rating and a $43.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $33.00.

Insider Activity at Delek US

In other 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 transaction of $208,627.40. Following the completion of the transaction, the chief financial officer directly owned 48,294 shares of the company’s stock, valued at $1,412,116.56. This trade represents a 12.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Delek US

A number of large investors have recently bought and sold shares of DK. AMG National Trust Bank boosted its stake in shares of Delek US by 0.4% during the second quarter. AMG National Trust Bank now owns 109,223 shares of the oil and gas company’s stock valued at $2,313,000 after acquiring an additional 472 shares during the last quarter. Orion Porfolio Solutions LLC boosted its stake in shares of Delek US by 2.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 23,244 shares of the oil and gas company’s stock worth $492,000 after purchasing an additional 507 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Delek US by 5.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 13,546 shares of the oil and gas company’s stock worth $287,000 after buying an additional 686 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Delek US by 8.8% in the second quarter. CANADA LIFE ASSURANCE Co now owns 11,782 shares of the oil and gas company’s stock valued at $250,000 after buying an additional 955 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Delek US by 3.0% during the second quarter. International Assets Investment Management LLC now owns 35,186 shares of the oil and gas company’s stock valued at $745,000 after buying an additional 1,029 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Delek US Price Performance

The stock has a market capitalization of $2.52 billion, a PE ratio of -3.40 and a beta of 0.99. The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 10.48. The company’s 50 day simple moving average is $33.36 and its 200 day simple moving average is $24.95.

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.