Delek US (NYSE:DK) Shares Up 6.2% After Analyst Upgrade

Delek US Holdings, Inc. (NYSE:DK) shot up 6.2% during mid-day trading on Tuesday after Raymond James Financial raised their price target on the stock from $26.00 to $33.00. Raymond James Financial currently has an outperform rating on the stock. Delek US traded as high as $31.88 and last traded at $32.08. 607,292 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 1,703,901 shares. The stock had previously closed at $30.20.

Other equities analysts also recently issued research reports about the stock. Piper Sandler boosted their target price on shares of Delek US from $17.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Cowen reiterated a “sell” rating on shares of Delek US in a research note on Friday, August 8th. Citigroup reiterated a “neutral” rating and set a $30.00 target price (up previously from $15.00) on shares of Delek US in a research note on Wednesday, July 16th. The Goldman Sachs Group boosted their target price on shares of Delek US from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, May 23rd. Finally, Scotiabank reiterated a “sector perform” rating and set a $20.00 target price (up previously from $14.00) on shares of Delek US in a research note on Friday, July 11th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $24.15.

Insider Activity at Delek US

In other news, CFO Robert G. Wright sold 7,135 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $29.24, for a total value of $208,627.40. Following the completion of the sale, the chief financial officer directly owned 48,294 shares of the company’s stock, valued at approximately $1,412,116.56. This represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. purchased a new position in Delek US in the first quarter valued at about $13,728,000. Nuveen LLC purchased a new position in Delek US in the first quarter valued at about $13,629,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Delek US by 113.5% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,601,777 shares of the oil and gas company’s stock valued at $33,926,000 after buying an additional 851,458 shares in the last quarter. Millennium Management LLC increased its holdings in Delek US by 1,199.2% in the fourth quarter. Millennium Management LLC now owns 870,257 shares of the oil and gas company’s stock valued at $16,100,000 after buying an additional 803,274 shares in the last quarter. Finally, Callodine Capital Management LP increased its holdings in Delek US by 1,827.6% in the first quarter. Callodine Capital Management LP now owns 674,661 shares of the oil and gas company’s stock valued at $10,167,000 after buying an additional 639,661 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Delek US Stock Performance

The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 10.48. The company has a market capitalization of $1.79 billion, a PE ratio of -2.42 and a beta of 1.09. The stock’s fifty day simple moving average is $24.75 and its 200-day simple moving average is $19.37.

Delek US (NYSE:DK) last issued its earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.36. Delek US had a negative net margin of 7.11% and a negative return on equity of 79.27%. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same period last year, the company posted ($0.92) earnings per share. The firm’s quarterly revenue was down 16.4% compared to the same quarter last year. On average, research analysts predict that Delek US Holdings, Inc. will post -5.5 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were given a $0.255 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.02 annualized dividend and a dividend yield of 3.4%. Delek US’s dividend payout ratio is currently -8.30%.

About Delek US

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through Refining, Logistics, and Retail segments. The Refining segment processes crude oil and other feedstock for the manufacture of various grades of gasoline, diesel fuel, aviation fuel, asphalt, and other petroleum-based products that are distributed through owned and third-party product terminal.