Delek US (NYSE:DK) Shares Gap Up After Analyst Upgrade

Delek US Holdings, Inc. (NYSE:DK) shares gapped up prior to trading on Monday after Bank of America raised their price target on the stock from $31.00 to $35.00. The stock had previously closed at $29.76, but opened at $30.46. Bank of America currently has a neutral rating on the stock. Delek US shares last traded at $30.78, with a volume of 138,358 shares changing hands.

A number of other analysts have also recently issued reports on the company. Mizuho lifted their price objective on Delek US from $28.00 to $33.00 and gave the company an “underperform” rating in a research report on Monday. Wells Fargo & Company boosted their price target on Delek US from $19.00 to $24.00 and gave the stock an “underweight” rating in a research report on Friday, September 8th. StockNews.com initiated coverage on Delek US in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Raymond James boosted their price target on Delek US from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 8th. Finally, Morgan Stanley reduced their price target on Delek US from $27.00 to $25.00 and set an “underweight” rating for the company in a research report on Tuesday, July 18th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.27.

Insider Activity at Delek US

In other Delek US news, Director Laurie Z. Tolson sold 2,700 shares of Delek US stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $26.67, for a total transaction of $72,009.00. Following the sale, the director now directly owns 12,340 shares of the company’s stock, valued at $329,107.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DK. Advisor Group Holdings Inc. boosted its holdings in shares of Delek US by 44.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,582 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 486 shares in the last quarter. American Century Companies Inc. lifted its holdings in Delek US by 22.1% during the 1st quarter. American Century Companies Inc. now owns 22,726 shares of the oil and gas company’s stock worth $482,000 after buying an additional 4,120 shares in the last quarter. Citigroup Inc. lifted its holdings in Delek US by 3.6% during the 1st quarter. Citigroup Inc. now owns 76,831 shares of the oil and gas company’s stock worth $1,630,000 after buying an additional 2,683 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Delek US by 55.2% during the 1st quarter. MetLife Investment Management LLC now owns 36,779 shares of the oil and gas company’s stock worth $780,000 after buying an additional 13,076 shares in the last quarter. Finally, APG Asset Management N.V. acquired a new position in Delek US during the 1st quarter worth $217,000. 97.01% of the stock is owned by institutional investors and hedge funds.

Delek US Stock Performance

The firm has a fifty day simple moving average of $27.00 and a 200-day simple moving average of $24.32. The company has a current ratio of 1.10, a quick ratio of 0.66 and a debt-to-equity ratio of 2.60. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -37.30, a P/E/G ratio of 1.45 and a beta of 1.46.

Delek US (NYSE:DK) last posted its quarterly earnings data on Monday, August 7th. The oil and gas company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.26. Delek US had a positive return on equity of 19.37% and a negative net margin of 0.31%. The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the business earned $4.40 EPS. The business’s revenue for the quarter was down 28.8% compared to the same quarter last year. Analysts forecast that Delek US Holdings, Inc. will post 4.05 EPS for the current fiscal year.

Delek US Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 14th were issued a dividend of $0.235 per share. This is an increase from Delek US’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.94 annualized dividend and a yield of 3.11%. Delek US’s dividend payout ratio is currently -116.05%.

Delek US Company Profile

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through three segments: Refining, Logistics, and Retail. 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.