Investors Purchase High Volume of Delek US Call Options (NYSE:DK)

Delek US Holdings, Inc. (NYSE:DK) was the recipient of unusually large options trading activity on Thursday. Stock investors acquired 6,453 call options on the company. This represents an increase of approximately 625% compared to the average daily volume of 890 call options.

Delek US Price Performance

Delek US stock opened at $19.69 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.04 and a debt-to-equity ratio of 3.18. The firm’s 50-day simple moving average is $14.73 and its 200 day simple moving average is $16.73. Delek US has a 52 week low of $11.03 and a 52 week high of $27.97. The firm has a market capitalization of $1.20 billion, a PE ratio of -4.05 and a beta of 0.74.

Delek US (NYSE:DK) last announced its earnings results on Wednesday, May 7th. The oil and gas company reported ($2.32) EPS for the quarter, missing analysts’ consensus estimates of ($2.27) by ($0.05). Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the company posted ($0.41) EPS. Delek US’s quarterly revenue was down 18.1% compared to the same quarter last year. On average, equities research analysts predict that Delek US will post -5.5 EPS for the current fiscal year.

Delek US Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 12th were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 5.18%. The ex-dividend date was Monday, May 12th. Delek US’s payout ratio is -9.18%.

Insider Buying and Selling

In related news, CFO Mark Wayne Hobbs purchased 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $13.70 per share, with a total value of $38,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 49,138 shares in the company, valued at $673,190.60. This trade represents a 6.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders acquired a total of 5,055 shares of company stock worth $70,787 in the last 90 days. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Ion Asset Management Ltd. grew its position in shares of Delek US by 6.4% in the first quarter. Ion Asset Management Ltd. now owns 3,676,400 shares of the oil and gas company’s stock valued at $55,403,000 after purchasing an additional 221,400 shares during the period. Barclays PLC lifted its holdings in shares of Delek US by 23.1% during the 4th quarter. Barclays PLC now owns 1,842,035 shares of the oil and gas company’s stock worth $34,078,000 after acquiring an additional 345,210 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Delek US by 35.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,037,599 shares of the oil and gas company’s stock worth $15,637,000 after acquiring an additional 270,792 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Delek US by 21.9% in the fourth quarter. Nuveen Asset Management LLC now owns 1,005,309 shares of the oil and gas company’s stock valued at $18,598,000 after purchasing an additional 180,498 shares during the period. Finally, Northern Trust Corp increased its position in Delek US by 9.2% during the first quarter. Northern Trust Corp now owns 987,086 shares of the oil and gas company’s stock worth $14,875,000 after purchasing an additional 83,246 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on DK shares. Scotiabank dropped their price target on shares of Delek US from $24.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Piper Sandler lowered their price objective on Delek US from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Wells Fargo & Company lowered their price objective on Delek US from $16.00 to $11.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. UBS Group reduced their price target on Delek US from $21.00 to $13.25 and set a “neutral” rating for the company in a report on Wednesday, April 9th. Finally, The Goldman Sachs Group cut their price objective on Delek US from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.10.

About Delek US

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.