Delek US (NYSE:DK) Shares Up 3.6%

Delek US Holdings, Inc. (NYSE:DK)’s stock price shot up 3.6% on Thursday . The company traded as high as $19.36 and last traded at $19.36. 250,502 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 1,037,013 shares. The stock had previously closed at $18.68.

Analyst Upgrades and Downgrades

A number of research firms have commented on DK. Piper Sandler cut their target price on shares of Delek US from $25.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Scotiabank cut their price target on Delek US from $27.00 to $25.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Morgan Stanley cut their target price on Delek US from $24.00 to $22.00 and set an “underweight” rating on the stock in a research note on Monday, September 16th. Wolfe Research started coverage on shares of Delek US in a research report on Thursday, July 18th. They set an “underperform” rating and a $19.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of Delek US from $26.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday. Five analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.09.

Delek US Stock Up 8.4 %

The company has a debt-to-equity ratio of 2.50, a current ratio of 0.98 and a quick ratio of 0.58. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -16.01 and a beta of 1.14. The business has a fifty day moving average price of $20.47 and a two-hundred day moving average price of $24.72.

Delek US (NYSE:DK) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.50. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Delek US had a negative return on equity of 4.53% and a negative net margin of 0.69%. The company’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 EPS. On average, equities analysts expect that Delek US Holdings, Inc. will post -3.19 earnings per share for the current year.

Delek US Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were given a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 5.04%. The ex-dividend date was Monday, August 12th. This is a positive change from Delek US’s previous quarterly dividend of $0.20. Delek US’s dividend payout ratio is currently -82.26%.

Insider Activity

In other news, CEO Avigal Soreq acquired 5,651 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $20.42 per share, for a total transaction of $115,393.42. Following the completion of the transaction, the chief executive officer now owns 188,881 shares in the company, valued at approximately $3,856,950.02. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Institutional Trading of Delek US

A number of institutional investors and hedge funds have recently made changes to their positions in DK. Encompass Capital Advisors LLC acquired a new stake in shares of Delek US in the second quarter valued at about $22,833,000. SIR Capital Management L.P. boosted its holdings in Delek US by 37.2% in the 2nd quarter. SIR Capital Management L.P. now owns 876,133 shares of the oil and gas company’s stock worth $21,693,000 after buying an additional 237,734 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Delek US during the 2nd quarter worth approximately $19,806,000. Bridgeway Capital Management LLC raised its holdings in shares of Delek US by 3.1% during the fourth quarter. Bridgeway Capital Management LLC now owns 777,576 shares of the oil and gas company’s stock valued at $20,061,000 after acquiring an additional 23,509 shares during the last quarter. Finally, Easterly Investment Partners LLC lifted its position in shares of Delek US by 26.7% in the second quarter. Easterly Investment Partners LLC now owns 457,536 shares of the oil and gas company’s stock valued at $11,329,000 after acquiring an additional 96,531 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

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.