Delek US (NYSE:DK) Stock Price Down 8.4% – Here’s What Happened

Delek US Holdings, Inc. (NYSE:DK) fell 8.4% during mid-day trading on Wednesday . The stock traded as low as $60.56 and last traded at $60.6460. 884,120 shares were traded during trading, a decline of 36% from the average session volume of 1,387,118 shares. The stock had previously closed at $66.20.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DK. Weiss Ratings cut Delek US from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Zacks Research raised shares of Delek US from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. Citigroup boosted their price target on Delek US from $33.00 to $44.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. UBS Group raised their price objective on Delek US from $42.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. Finally, JPMorgan Chase & Co. boosted their target price on Delek US from $57.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $51.92.

Delek US Stock Down 8.2%

The company has a debt-to-equity ratio of 10.51, a current ratio of 0.76 and a quick ratio of 0.49. The firm’s 50-day moving average price is $53.34 and its 200 day moving average price is $44.22. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of -66.66, a price-to-earnings-growth ratio of 1.74 and a beta of 0.57.

Delek US (NYSE:DK) last posted its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $2.81. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $3.44 billion. Delek US had a positive return on equity of 22.90% and a negative net margin of 0.48%.Delek US’s revenue was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.56) EPS. Sell-side analysts expect that Delek US Holdings, Inc. will post 8.32 EPS for the current year.

Delek US Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, August 3rd. Delek US’s dividend payout ratio (DPR) is currently -112.09%.

Insider Transactions at Delek US

In related news, EVP Robert G. Wright sold 10,720 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $47.07, for a total transaction of $504,590.40. Following the sale, the executive vice president owned 48,148 shares in the company, valued at approximately $2,266,326.36. This trade represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William J. Finnerty sold 5,000 shares of Delek US stock in a transaction that occurred 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 of the company’s stock, valued at $1,792,457.50. The trade was a 12.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 39,270 shares of company stock worth $1,828,718 in the last ninety days. Company insiders own 3.56% of the company’s stock.

Institutional Investors Weigh In On Delek US

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. purchased a new position in Delek US during the third quarter worth about $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of 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 worth $26,000 after acquiring an additional 432 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Delek US by 173.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 614 shares during the last quarter. Torren Management LLC acquired a new stake in shares of Delek US in the fourth quarter worth approximately $40,000. Finally, Focus Partners Wealth purchased a new stake in Delek US in the third quarter valued at approximately $44,000. 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 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.