Delek US (NYSE:DK) Shares Up 3.1% – Here’s What Happened

Delek US Holdings, Inc. (NYSE:DK) shares rose 3.1% during trading on Wednesday . The stock traded as high as $16.29 and last traded at $16.43. Approximately 43,902 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 1,473,431 shares. The stock had previously closed at $15.94.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Mizuho dropped their price target on Delek US from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Piper Sandler decreased their price objective on Delek US from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, March 7th. JPMorgan Chase & Co. upped their target price on shares of Delek US from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Wells Fargo & Company upped their price target on Delek US from $15.00 to $16.00 and gave the stock an “underweight” rating in a report on Friday, March 21st. Finally, Wolfe Research upgraded Delek US from an “underperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Five investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, Delek US currently has an average rating of “Hold” and a consensus target price of $20.40.

Delek US Stock Up 2.1 %

The stock has a 50 day moving average price of $17.28 and a 200 day moving average price of $17.91. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.67 and a current ratio of 1.04. The company has a market capitalization of $1.02 billion, a P/E ratio of -3.34 and a beta of 1.14.

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

Delek US Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, March 3rd were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 6.27%. The ex-dividend date was Monday, March 3rd. Delek US’s dividend payout ratio is currently -11.54%.

Insiders Place Their Bets

In other Delek US news, CFO Mark Wayne Hobbs bought 2,800 shares of the stock in a transaction on Tuesday, March 11th. The shares were 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. The trade was a 6.04 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 5,055 shares of company stock worth $70,787 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Rubric Capital Management LP purchased a new stake in shares of Delek US in the third quarter worth about $37,500,000. Philosophy Capital Management LLC bought a new position in Delek US in the 3rd quarter valued at $21,471,000. Millennium Management LLC grew its position in shares of Delek US by 1,199.2% during the 4th quarter. Millennium Management LLC now owns 870,257 shares of the oil and gas company’s stock valued at $16,100,000 after purchasing an additional 803,274 shares in the last quarter. Deprince Race & Zollo Inc. bought a new position in shares of Delek US in the fourth quarter worth $13,680,000. Finally, FMR LLC raised its position in shares of Delek US by 47.3% in the third quarter. FMR LLC now owns 1,707,773 shares of the oil and gas company’s stock worth $32,021,000 after buying an additional 548,777 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Delek US Company Profile

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.