Delek US (NYSE:DK) Reaches New 1-Year High on Analyst Upgrade

Delek US Holdings, Inc. (NYSE:DK)’s share price hit a new 52-week high during mid-day trading on Wednesday after Raymond James Financial raised their price target on the stock from $47.00 to $54.00. Raymond James Financial currently has an outperform rating on the stock. Delek US traded as high as $46.90 and last traded at $45.8860, with a volume of 2784573 shares. The stock had previously closed at $42.39.

Several other equities research analysts have also commented on the company. Mizuho upped their price objective on Delek US from $51.00 to $54.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. JPMorgan Chase & Co. cut their target price on shares of Delek US from $42.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, January 15th. Piper Sandler lowered their price target on shares of Delek US from $47.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Scotiabank set a $34.00 price target on shares of Delek US in a research report on Friday, January 16th. Finally, TD Cowen lifted their price objective on shares of Delek US from $28.00 to $44.00 and gave the company a “hold” rating in a report on Thursday, March 5th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Delek US currently has a consensus rating of “Hold” and an average target price of $41.00.

Insider Activity at Delek US

In other Delek US news, Director Shlomo Zohar sold 7,343 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $46.00, for a total transaction of $337,778.00. Following the completion of the transaction, the director owned 6,646 shares of the company’s stock, valued at $305,716. This represents a 52.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Denise Clark Mcwatters sold 11,988 shares of Delek US stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $41.33, for a total value of $495,464.04. Following the completion of the sale, the executive vice president directly owned 74,196 shares in the company, valued at $3,066,520.68. This represents a 13.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 172,095 shares of company stock worth $7,257,409 in the last quarter. Corporate insiders own 3.56% of the company’s stock.

Institutional Investors Weigh In On Delek US

Large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd raised its position in shares of Delek US by 95.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 432 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in Delek US during the third quarter worth about $27,000. EverSource Wealth Advisors LLC grew its stake in Delek US by 173.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 614 shares in the last quarter. Torren Management LLC acquired a new stake in Delek US in the 4th quarter valued at about $40,000. Finally, Focus Partners Wealth acquired a new stake in Delek US in the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Delek US Price Performance

The company has a debt-to-equity ratio of 5.89, a quick ratio of 0.53 and a current ratio of 0.82. The stock’s 50 day simple moving average is $36.09 and its two-hundred day simple moving average is $34.84. The firm has a market capitalization of $2.78 billion, a PE ratio of -132.62, a price-to-earnings-growth ratio of 1.87 and a beta of 0.75.

Delek US (NYSE:DK) last posted its quarterly earnings results on Friday, February 27th. The oil and gas company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.63. Delek US had a negative return on equity of 13.55% and a negative net margin of 0.21%.The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the business earned ($2.54) earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that Delek US Holdings, Inc. will post -5.5 EPS for the current year.

Delek US Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, March 2nd. Delek US’s dividend payout ratio is presently -291.43%.

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.