Delek US (NYSE:DK) Shares Up 5.3% – Here’s What Happened

Delek US Holdings, Inc. (NYSE:DK) shot up 5.3% during trading on Wednesday . The stock traded as high as $55.00 and last traded at $55.0990. 188,128 shares were traded during trading, a decline of 87% from the average daily volume of 1,406,428 shares. The stock had previously closed at $52.32.

Analyst Ratings Changes

DK has been the topic of a number of recent analyst reports. Citigroup raised their target price on shares of Delek US from $33.00 to $44.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Morgan Stanley boosted their price target on shares of Delek US from $41.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Friday, June 12th. Wall Street Zen upgraded shares of Delek US from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 18th. Scotiabank raised shares of Delek US to a “hold” rating in a report on Friday, March 27th. Finally, Zacks Research upgraded shares of Delek US from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Delek US presently has an average rating of “Hold” and a consensus target price of $46.08.

Delek US Stock Up 4.7%

The company has a market cap of $3.36 billion, a P/E ratio of -60.19, a P/E/G ratio of 0.32 and a beta of 0.58. The stock has a 50-day moving average of $46.08 and a two-hundred day moving average of $39.59. The company has a debt-to-equity ratio of 10.51, a quick ratio of 0.49 and a current ratio of 0.76.

Delek US (NYSE:DK) last posted 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. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period last year, the firm posted ($2.32) earnings per share. The business’s revenue was up .4% compared to the same quarter last year. On average, research analysts anticipate that Delek US Holdings, Inc. will post 5.58 EPS for the current fiscal year.

Delek US Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, May 1st were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, May 1st. Delek US’s payout ratio is presently -112.09%.

Insider Activity at Delek US

In other Delek US news, Director Laurie Z. Tolson sold 4,921 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $46.30, for a total transaction of $227,842.30. Following the completion of the sale, the director owned 18,226 shares of the company’s stock, valued at $843,863.80. This represents a 21.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William J. Finnerty sold 5,000 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $51.50, for a total transaction of $257,500.00. Following the completion of the sale, the director directly owned 34,805 shares in the company, valued at approximately $1,792,457.50. This trade represents a 12.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 39,270 shares of company stock worth $1,828,718 over the last ninety days. Insiders own 3.56% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Thoroughbred Financial Services LLC raised its holdings in shares of Delek US by 1.3% during the fourth quarter. Thoroughbred Financial Services LLC now owns 27,164 shares of the oil and gas company’s stock valued at $805,000 after acquiring an additional 348 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in Delek US by 1.8% in the fourth quarter. New York State Common Retirement Fund now owns 22,048 shares of the oil and gas company’s stock valued at $654,000 after acquiring an additional 400 shares in the last quarter. Aster Capital Management DIFC Ltd increased its position in Delek US by 23.2% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,259 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 425 shares during the period. Caitong International Asset Management Co. Ltd increased its position in Delek US by 95.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 432 shares during the period. Finally, Orion Porfolio Solutions LLC raised its holdings in Delek US by 2.2% in 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 in the last quarter. Institutional investors own 97.01% of the company’s stock.

About Delek US

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.