Delek US (NYSE:DK) Stock Price Down 5.6% Following Insider Selling

Delek US Holdings, Inc. (NYSE:DK) traded down 5.6% on Thursday following insider selling activity. The company traded as low as $42.04 and last traded at $42.0790. 454,142 shares traded hands during trading, a decline of 70% from the average session volume of 1,493,135 shares. The stock had previously closed at $44.59.

Specifically, Director Laurie Z. Tolson sold 4,921 shares of Delek US stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $46.30, for a total transaction of $227,842.30. Following the completion of the sale, the director owned 18,226 shares of the company’s stock, valued at approximately $843,863.80. The trade was a 21.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Reuven Spiegel sold 10,000 shares of Delek US stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $44.36, for a total transaction of $443,600.00. Following the sale, the executive vice president directly owned 48,372 shares of the company’s stock, valued at $2,145,781.92. The trade was a 17.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In related news, EVP Robert G. Wright sold 10,720 shares of Delek US stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $47.07, for a total transaction of $504,590.40. Following the completion of the sale, the executive vice president owned 48,148 shares of the company’s stock, valued at approximately $2,266,326.36. The trade was a 18.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analyst Ratings Changes

DK has been the subject of a number of recent research reports. UBS Group boosted their price objective on shares of Delek US from $42.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, April 10th. Zacks Research raised shares of Delek US from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 29th. TD Cowen cut their price objective on shares of Delek US from $60.00 to $44.00 and set a “hold” rating for the company in a report on Monday, April 27th. Raymond James Financial upped their price objective on shares of Delek US from $47.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Finally, Weiss Ratings cut shares of Delek US from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Delek US currently has an average rating of “Hold” and an average price target of $44.23.

Delek US Price Performance

The business’s 50 day simple moving average is $43.38 and its two-hundred day simple moving average is $37.54. The stock has a market capitalization of $2.58 billion, a P/E ratio of -46.04, a price-to-earnings-growth ratio of 0.34 and a beta of 0.63. The company has a quick ratio of 0.49, a current ratio of 0.76 and a debt-to-equity ratio of 10.51.

Delek US (NYSE:DK) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $1.50. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.33 billion. Delek US had a positive return on equity of 22.90% and a negative net margin of 0.48%.Delek US’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the company posted ($2.32) earnings per share. As a group, sell-side analysts forecast that Delek US Holdings, Inc. will post 4.54 earnings per share for the current fiscal year.

Delek US Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, May 1st were given a $0.255 dividend. The ex-dividend date was Friday, May 1st. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.4%. Delek US’s payout ratio is presently -112.09%.

Hedge Funds Weigh In On Delek US

Hedge funds have recently modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new position in Delek US during the 3rd quarter valued at about $27,000. Caitong International Asset Management Co. Ltd grew its position in Delek US by 95.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 432 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Delek US by 173.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 614 shares during the last quarter. Torren Management LLC purchased a new stake in Delek US during the 4th quarter valued at about $40,000. Finally, Focus Partners Wealth purchased a new stake in Delek US during the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

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.