Delek US (NYSE:DK) Stock Jumps 6.5% – Still a Buy?

Delek US Holdings, Inc. (NYSE:DK)’s stock price traded up 6.5% on Wednesday. The company traded as high as $73.01 and last traded at $73.1660. 950,875 shares traded hands during trading, a decline of 39% from the average daily volume of 1,566,334 shares. The stock had previously closed at $68.73.

Analysts Set New Price Targets

Several equities analysts recently weighed in on DK shares. Wells Fargo & Company raised their target price on shares of Delek US from $59.00 to $82.00 and gave the company an “overweight” rating in a research note on Tuesday, September 1st. Raymond James Financial boosted their price target on shares of Delek US from $72.00 to $90.00 and gave the stock an “outperform” rating in a research note on Monday, September 14th. Citigroup reissued a “neutral” rating on shares of Delek US in a report on Thursday, August 6th. The Goldman Sachs Group raised their price objective on Delek US from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Finally, Weiss Ratings raised Delek US from a “sell (d+)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.45.

Delek US Stock Performance

The company has a debt-to-equity ratio of 7.53, a current ratio of 0.76 and a quick ratio of 0.47. The business has a 50-day moving average of $69.22 and a 200-day moving average of $54.46. The company has a market capitalization of $4.48 billion, a P/E ratio of 20.59, a P/E/G ratio of 0.33 and a beta of 0.59.

Delek US (NYSE:DK) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $2.81. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.44 billion. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The business’s revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.56) earnings per share. On average, sell-side analysts anticipate that Delek US Holdings, Inc. will post 16.06 EPS for the current year.

Delek US Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a $0.2550 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, August 3rd. Delek US’s dividend payout ratio is 28.65%.

Insiders Place Their Bets

In other news, EVP Amber Russell sold 5,392 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $75.50, for a total value of $407,096.00. Following the sale, the executive vice president directly owned 35,670 shares in the company, valued at approximately $2,693,085. This represents a 13.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gary M. Jr. Sullivan sold 27,688 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $69.01, for a total value of $1,910,748.88. Following the sale, the director directly owned 32,004 shares of the company’s stock, valued at $2,208,596.04. This represents a 46.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 163,377 shares of company stock valued at $11,082,485 over the last quarter. Corporate insiders own 3.56% of the company’s stock.

Institutional Trading of Delek US

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC bought a new stake in shares of Delek US during the second quarter worth $334,000. WINTON GROUP Ltd boosted its stake in shares of Delek US by 445.3% during the second quarter. WINTON GROUP Ltd now owns 57,800 shares of the oil and gas company’s stock valued at $2,937,000 after purchasing an additional 47,200 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Delek US in the second quarter worth about $61,000. Squarepoint Ops LLC grew its holdings in shares of Delek US by 110.9% in the second quarter. Squarepoint Ops LLC now owns 176,773 shares of the oil and gas company’s stock worth $8,982,000 after purchasing an additional 92,957 shares during the last quarter. Finally, Allworth Financial LP increased its stake in Delek US by 30.7% in the 2nd quarter. Allworth Financial LP now owns 600 shares of the oil and gas company’s stock worth $30,000 after buying an additional 141 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.

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.