Delek US (NYSE:DK) Hits New 52-Week High – Here’s What Happened

Delek US Holdings, Inc. (NYSE:DK)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $77.80 and last traded at $75.4370, with a volume of 126678 shares. The stock had previously closed at $75.28.

Analyst Upgrades and Downgrades

DK has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Delek US from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Raymond James Financial raised their price objective on shares of Delek US from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. The Goldman Sachs Group lifted their target price on shares of Delek US from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Weiss Ratings upgraded shares of Delek US from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Finally, Zacks Research raised Delek US from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $59.09.

Delek US Price Performance

The company has a debt-to-equity ratio of 7.53, a quick ratio of 0.47 and a current ratio of 0.76. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 1.49 and a beta of 0.59. The company has a 50-day moving average price of $65.73 and a 200-day moving average price of $51.47.

Delek US (NYSE:DK) last announced its quarterly earnings results 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. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.44 billion. During the same period last year, the company posted ($0.56) EPS. Delek US’s revenue for the quarter was up 47.9% on a year-over-year basis. On average, equities research analysts expect that Delek US Holdings, Inc. will post 11.05 EPS for the current fiscal year.

Delek US Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 3rd. Delek US’s dividend payout ratio is presently 28.65%.

Insider Buying and Selling

In other news, Director Gary Sullivan, Jr. sold 27,688 shares of Delek US stock in a transaction on Monday, August 24th. The shares were sold at an average price of $69.01, for a total transaction of $1,910,748.88. Following the transaction, the director directly owned 32,004 shares of the company’s stock, valued at $2,208,596.04. This trade represents a 46.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Reuven Spiegel sold 7,500 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $73.21, for a total transaction of $549,075.00. Following the completion of the transaction, the executive vice president directly owned 28,935 shares of the company’s stock, valued at $2,118,331.35. This trade represents a 20.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 160,042 shares of company stock valued at $10,705,777. 3.56% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd increased its holdings 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 worth $26,000 after acquiring an additional 432 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of Delek US during the 3rd quarter valued at about $27,000. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 purchasing an additional 614 shares in the last quarter. Allworth Financial LP acquired a new position in shares of Delek US in the 2nd quarter valued at approximately $30,000. Finally, Focus Partners Wealth acquired a new position in shares of Delek US in the 3rd quarter valued at approximately $44,000. 97.01% of the stock is owned by institutional investors and hedge funds.

About Delek US

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.