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

Delek US Holdings, Inc. (NYSE:DK) gapped up prior to trading on Tuesday . The stock had previously closed at $74.34, but opened at $76.98. Delek US shares last traded at $72.5760, with a volume of 247,646 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DK. Citigroup reaffirmed a “neutral” rating on shares of Delek US in a research note on Thursday, August 6th. TD Cowen boosted their target price on shares of Delek US from $58.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. The Goldman Sachs Group upped their price target on shares of Delek US from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Raymond James Financial increased their price target on Delek US from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Wall Street Zen raised Delek US from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $54.92.

Delek US Stock Performance

The firm has a market capitalization of $4.38 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 1.43 and a beta of 0.57. The company’s 50 day moving average is $61.34 and its 200-day moving average is $49.10. The company has a quick ratio of 0.47, a current ratio of 0.76 and a debt-to-equity ratio of 7.53.

Delek US (NYSE:DK) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 EPS for the quarter, beating the consensus estimate of $2.67 by $2.81. Delek US had a return on equity of 109.03% and a net margin of 1.86%.The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same period last year, the business posted ($0.56) EPS. The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. As a group, equities analysts anticipate that Delek US Holdings, Inc. will post 11.05 EPS for the current year.

Delek US Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, August 3rd. Delek US’s dividend payout ratio (DPR) is 28.65%.

Insider Transactions at Delek US

In other news, Director Richard J. Marcogliese sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $71.05, for a total transaction of $142,100.00. Following the completion of the sale, the director owned 12,880 shares in the company, valued at $915,124. The trade was a 13.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gary M. Jr. Sullivan sold 27,688 shares of Delek US stock in a transaction on Monday, August 24th. The shares were sold at an average price of $69.01, for a total transaction of $1,910,748.88. Following the completion of the sale, the director directly owned 32,004 shares of the company’s stock, valued at approximately $2,208,596.04. The trade was a 46.38% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 148,016 shares of company stock valued at $9,789,125. Company insiders own 3.56% of the company’s stock.

Institutional Investors Weigh In On Delek US

A number of institutional investors and hedge funds have recently made changes to their positions in DK. Allworth Financial LP purchased a new stake in shares of Delek US in the second quarter worth approximately $30,000. Brown Brothers Harriman & Co. purchased a new position in shares of Delek US during the third quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd grew its holdings in Delek US by 95.6% during 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 grew its holdings in Delek US by 173.4% during 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. Finally, Focus Partners Wealth purchased a new stake in Delek US in the 3rd quarter valued at $44,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.