Delek US (NYSE:DK) Reaches New 52-Week High – Here’s What Happened

Shares of Delek US Holdings, Inc. (NYSE:DK) reached a new 52-week high during trading on Wednesday . The stock traded as high as $46.90 and last traded at $45.8860, with a volume of 2784573 shares changing hands. The stock had previously closed at $42.39.

Analysts Set New Price Targets

A number of research firms recently commented on DK. Weiss Ratings reiterated a “sell (d-)” rating on shares of Delek US in a report on Wednesday, January 21st. Mizuho lifted their target price on Delek US from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Morgan Stanley decreased their price target on Delek US from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 27th. JPMorgan Chase & Co. lowered their price target on Delek US from $42.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, January 15th. Finally, Piper Sandler cut their price objective on Delek US from $47.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Delek US has a consensus rating of “Hold” and an average price target of $39.69.

Delek US Trading Up 8.2%

The company’s 50 day simple moving average is $35.46 and its 200 day simple moving average is $34.69. The company has a debt-to-equity ratio of 5.89, a current ratio of 0.82 and a quick ratio of 0.53. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -131.10 and a beta of 0.75.

Delek US (NYSE:DK) last released its earnings results on Friday, February 27th. The oil and gas company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.63. Delek US had a negative return on equity of 13.55% and a negative net margin of 0.21%.The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period last year, the business posted ($2.54) earnings per share. Delek US’s revenue was up 2.3% compared to the same quarter last year. As a group, research analysts expect that Delek US Holdings, Inc. will post -5.5 earnings per share for the current fiscal year.

Delek US Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, March 2nd were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, March 2nd. Delek US’s dividend payout ratio (DPR) is presently -291.43%.

Insider Buying and Selling at Delek US

In related news, EVP Denise Clark Mcwatters sold 11,988 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $41.33, for a total transaction of $495,464.04. Following the sale, the executive vice president directly owned 74,196 shares in the company, valued at approximately $3,066,520.68. This represents a 13.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Avigal Soreq sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $41.08, for a total transaction of $2,054,000.00. Following the completion of the sale, the chief executive officer directly owned 251,678 shares in the company, valued at approximately $10,338,932.24. This trade represents a 16.57% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 172,095 shares of company stock valued at $7,257,409. 3.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Delek US

A number of institutional investors and hedge funds have recently modified their holdings of DK. Allianz Asset Management GmbH boosted its holdings in Delek US by 40.2% in the third quarter. Allianz Asset Management GmbH now owns 1,474,083 shares of the oil and gas company’s stock valued at $47,569,000 after purchasing an additional 423,017 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Delek US in the third quarter valued at approximately $1,338,000. Federated Hermes Inc. acquired a new stake in Delek US during the third quarter worth approximately $5,416,000. Quantbot Technologies LP acquired a new stake in Delek US during the second quarter worth approximately $1,089,000. Finally, Mercuria Capital Strategies LLC purchased a new stake in shares of Delek US during the 3rd quarter worth approximately $8,755,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Delek US Company Profile

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.