Delek US (NYSE:DK) Shares Gap Up After Insider Buying Activity

Delek US Holdings, Inc. (NYSE:DK) gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $14.34, but opened at $14.67. Delek US shares last traded at $14.76, with a volume of 120,819 shares traded.

Specifically, CFO Mark Wayne Hobbs acquired 2,800 shares of Delek US stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average price of $13.70 per share, for a total transaction of $38,360.00. Following the completion of the transaction, the chief financial officer now owns 49,138 shares in the company, valued at $673,190.60. This represents a 6.04 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Ratings Changes

Several brokerages have recently weighed in on DK. Morgan Stanley lowered their price target on shares of Delek US from $19.00 to $18.00 and set an “underweight” rating on the stock in a research report on Friday. Piper Sandler dropped their price target on shares of Delek US from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Wolfe Research upgraded shares of Delek US from an “underperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Wells Fargo & Company decreased their price objective on Delek US from $17.00 to $15.00 and set an “underweight” rating on the stock in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised their target price on Delek US from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Five analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Delek US has a consensus rating of “Hold” and a consensus price target of $20.30.

Delek US Trading Up 7.1 %

The company has a quick ratio of 0.67, a current ratio of 1.04 and a debt-to-equity ratio of 3.18. The business has a 50-day simple moving average of $17.60 and a 200-day simple moving average of $18.11. The company has a market cap of $978.64 million, a PE ratio of -3.22 and a beta of 1.15.

Delek US (NYSE:DK) last posted its quarterly earnings data on Tuesday, February 25th. The oil and gas company reported ($2.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.53) by ($1.01). Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the firm posted ($1.46) EPS. Delek US’s quarterly revenue was down 39.8% compared to the same quarter last year. On average, analysts predict that Delek US Holdings, Inc. will post -5.5 EPS for the current fiscal year.

Delek US Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, March 3rd were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 6.52%. The ex-dividend date was Monday, March 3rd. Delek US’s payout ratio is -11.54%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Sterling Capital Management LLC grew its stake in shares of Delek US by 728.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,491 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 1,311 shares in the last quarter. KBC Group NV boosted its holdings in Delek US by 66.3% in the fourth quarter. KBC Group NV now owns 3,859 shares of the oil and gas company’s stock valued at $71,000 after purchasing an additional 1,538 shares during the period. ARS Investment Partners LLC acquired a new position in Delek US during the 4th quarter worth $185,000. Capstone Investment Advisors LLC purchased a new stake in Delek US during the 3rd quarter worth about $193,000. Finally, Abel Hall LLC acquired a new stake in Delek US in the 4th quarter valued at about $196,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Delek US Company Profile

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.