Delek US (NYSE:DK) Shares Up 5.8% After Analyst Upgrade

Delek US Holdings, Inc. (NYSE:DK)’s share price rose 5.8% during trading on Wednesday after Mizuho raised their price target on the stock from $51.00 to $54.00. Mizuho currently has an outperform rating on the stock. Delek US traded as high as $44.50 and last traded at $44.79. Approximately 687,260 shares traded hands during trading, a decline of 56% from the average daily volume of 1,571,091 shares. The stock had previously closed at $42.34.

DK has been the subject of several other reports. Scotiabank set a $34.00 target price on Delek US in a report on Friday, January 16th. TD Cowen boosted their price target on shares of Delek US from $28.00 to $44.00 and gave the company a “hold” rating in a research report on Thursday, March 5th. Morgan Stanley dropped their price objective on shares of Delek US from $40.00 to $38.00 and set an “equal weight” rating for the company in a report on Tuesday, January 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Delek US in a research report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Delek US from $42.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, January 15th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $39.69.

Insider Buying and Selling

In other news, EVP Denise Clark Mcwatters sold 11,988 shares of the company’s stock in a transaction 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 transaction, the executive vice president owned 74,196 shares of the company’s stock, valued at $3,066,520.68. This represents a 13.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Shlomo Zohar sold 5,000 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $41.47, for a total value of $207,350.00. Following the transaction, the director owned 13,989 shares of the company’s stock, valued at approximately $580,123.83. This represents a 26.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 159,752 shares of company stock valued at $6,692,131. 3.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Delek US

Institutional investors have recently made changes to their positions in the stock. ION Fund Management Ltd purchased a new position in shares of Delek US during the fourth quarter worth $52,427,000. Norges Bank purchased a new stake in shares of Delek US in the 4th quarter valued at $48,374,000. Arrowstreet Capital Limited Partnership lifted its stake in Delek US by 6,300.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,306,269 shares of the oil and gas company’s stock worth $42,153,000 after acquiring an additional 1,285,861 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Delek US by 1,516.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 996,059 shares of the oil and gas company’s stock valued at $29,544,000 after acquiring an additional 934,448 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Delek US by 1,173.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 954,900 shares of the oil and gas company’s stock valued at $28,322,000 after acquiring an additional 879,900 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Delek US Stock 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 company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -127.01 and a beta of 0.75. The firm has a 50-day simple moving average of $34.61 and a two-hundred day simple moving average of $34.36.

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

Delek US Announces Dividend

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

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.