Delek US (NYSE:DK) Reaches New 12-Month High – Here’s What Happened

Delek US Holdings, Inc. (NYSE:DK)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $45.93 and last traded at $46.3360, with a volume of 3215 shares trading hands. The stock had previously closed at $45.41.

Wall Street Analysts Forecast Growth

DK has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Delek US from $42.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, January 15th. Citigroup dropped their target price on shares of Delek US from $37.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, January 26th. Wall Street Zen upgraded Delek US from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Delek US in a research note on Wednesday, January 21st. Finally, Piper Sandler cut their target price on Delek US from $47.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $39.69.

Delek US Price Performance

The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -129.28 and a beta of 0.75. The company has a 50 day simple moving average of $34.33 and a 200-day simple moving average of $34.29. The company has a current ratio of 0.82, a quick ratio of 0.53 and a debt-to-equity ratio of 5.89.

Delek US (NYSE:DK) last posted its quarterly earnings data 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 net margin of 0.21% and a negative return on equity of 13.55%. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period last year, the company earned ($2.54) earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. Research analysts expect that Delek US Holdings, Inc. will post -5.5 EPS for the current year.

Delek US Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, March 2nd were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 2.3%. The ex-dividend date was Monday, March 2nd. Delek US’s dividend payout ratio (DPR) is -291.43%.

Insider Activity at Delek US

In other news, EVP Denise Clark Mcwatters sold 11,988 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $41.33, for a total transaction of $495,464.04. Following the completion of the sale, the executive vice president owned 74,196 shares in the company, valued at $3,066,520.68. The trade was a 13.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Joseph Israel sold 38,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $40.65, for a total value of $1,544,700.00. Following the completion of the sale, the executive vice president owned 55,623 shares of the company’s stock, valued at $2,261,074.95. This trade represents a 40.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 159,752 shares of company stock worth $6,692,131 in the last three months. 3.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Delek US

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its position in Delek US by 18.4% during the 1st quarter. Royal Bank of Canada now owns 278,774 shares of the oil and gas company’s stock worth $4,201,000 after buying an additional 43,379 shares during the period. AQR Capital Management LLC acquired a new position in Delek US in the 1st quarter valued at approximately $390,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Delek US by 3.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,190 shares of the oil and gas company’s stock valued at $560,000 after acquiring an additional 1,102 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Delek US by 3,979.8% during the first quarter. Jones Financial Companies Lllp now owns 20,399 shares of the oil and gas company’s stock worth $307,000 after purchasing an additional 19,899 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Delek US by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,871 shares of the oil and gas company’s stock worth $2,213,000 after purchasing an additional 9,827 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Delek US Company Profile

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.