Delek US (NYSE:DK) Trading 4.5% Higher – Here’s What Happened

Delek US Holdings, Inc. (NYSE:DK) rose 4.5% during mid-day trading on Thursday . The company traded as high as $12.81 and last traded at $12.72. Approximately 86,506 shares traded hands during trading, a decline of 93% from the average daily volume of 1,205,669 shares. The stock had previously closed at $12.17.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. UBS Group cut their price target on shares of Delek US from $21.00 to $13.25 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley cut their price objective 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, March 14th. Scotiabank lowered their target price on Delek US from $24.00 to $14.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Mizuho cut their price target on Delek US from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Wednesday, April 9th. Finally, Wolfe Research upgraded Delek US from an “underperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.48.

Delek US Stock Performance

The stock has a market capitalization of $804.67 million, a P/E ratio of -2.65 and a beta of 1.04. 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 stock has a 50 day simple moving average of $15.06 and a two-hundred day simple moving average of $17.12.

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

Delek US Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, March 3rd were paid a $0.255 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.02 annualized dividend and a yield of 7.92%. Delek US’s dividend payout ratio (DPR) is currently -11.54%.

Insider Buying and Selling

In other Delek US news, CFO Mark Wayne Hobbs purchased 2,800 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $13.70 per share, with a total value of $38,360.00. Following the acquisition, the chief financial officer now directly owns 49,138 shares of the company’s stock, valued at $673,190.60. This trade represents a 6.04 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders acquired 5,055 shares of company stock worth $70,787. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Delek US

Several large investors have recently modified their holdings of DK. Rafferty Asset Management LLC grew its holdings in Delek US by 0.7% in the 4th quarter. Rafferty Asset Management LLC now owns 114,701 shares of the oil and gas company’s stock valued at $2,122,000 after buying an additional 797 shares in the last quarter. Sei Investments Co. boosted its position in shares of Delek US by 2.3% in the fourth quarter. Sei Investments Co. now owns 52,595 shares of the oil and gas company’s stock valued at $973,000 after acquiring an additional 1,192 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Delek US by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,088 shares of the oil and gas company’s stock valued at $668,000 after acquiring an additional 1,227 shares in the last quarter. Sterling Capital Management LLC increased its position in Delek US by 728.3% during 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 during the period. Finally, XTX Topco Ltd increased its position in Delek US by 11.2% during the fourth quarter. XTX Topco Ltd now owns 14,122 shares of the oil and gas company’s stock worth $261,000 after acquiring an additional 1,418 shares during the period. 97.01% of the stock is owned by 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.