Delek US (NYSE:DK) Shares Gap Down – Here’s Why

Delek US Holdings, Inc. (NYSE:DK)’s share price gapped down prior to trading on Monday . The stock had previously closed at $63.20, but opened at $60.43. Delek US shares last traded at $62.84, with a volume of 142,390 shares traded.

Wall Street Analyst Weigh In

Several analysts have issued reports on DK shares. Weiss Ratings lowered shares of Delek US from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Wall Street Zen upgraded Delek US from a “buy” rating to a “strong-buy” rating in a report on Monday, May 18th. Raymond James Financial boosted their target price on Delek US from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Mizuho increased their target price on Delek US from $54.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Finally, Wells Fargo & Company raised their price target on Delek US from $54.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.92.

Delek US Stock Performance

The business’s fifty day simple moving average is $50.31 and its 200-day simple moving average is $42.45. The firm has a market cap of $3.87 billion, a P/E ratio of -69.22, a price-to-earnings-growth ratio of 1.67 and a beta of 0.58. The company has a current ratio of 0.76, a quick ratio of 0.49 and a debt-to-equity ratio of 10.51.

Delek US (NYSE:DK) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.08 EPS for the quarter, beating the consensus estimate of ($1.42) by $1.50. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.33 billion. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.32) earnings per share. As a group, sell-side analysts expect that Delek US Holdings, Inc. will post 8.3 earnings per share for the current year.

Delek US Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.02 dividend on an annualized basis and a yield of 1.6%. Delek US’s dividend payout ratio is presently -112.09%.

Insiders Place Their Bets

In related news, Director Vicky Sutil sold 1,871 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $48.00, for a total transaction of $89,808.00. Following the completion of the transaction, the director owned 29,368 shares in the company, valued at $1,409,664. This represents a 5.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William J. Finnerty sold 5,000 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $51.50, for a total value of $257,500.00. Following the completion of the sale, the director directly owned 34,805 shares of the company’s stock, valued at $1,792,457.50. The trade was a 12.56% 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 the last quarter, insiders have sold 39,270 shares of company stock worth $1,828,718. Insiders own 3.56% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. bought a new stake in shares of Delek US during the 3rd quarter valued at about $27,000. Caitong International Asset Management Co. Ltd raised its stake in Delek US by 95.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company’s stock worth $26,000 after buying an additional 432 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Delek US by 173.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company’s stock worth $29,000 after buying an additional 614 shares in the last quarter. Torren Management LLC purchased a new stake in Delek US in the fourth quarter worth about $40,000. Finally, Focus Partners Wealth purchased a new stake in Delek US in the third quarter worth about $44,000. 97.01% of the stock is currently owned by institutional investors.

About Delek US

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.