Delek US (NYSE:DK) Hits New 1-Year High Following Analyst Upgrade

Delek US Holdings, Inc. (NYSE:DK)’s share price reached a new 52-week high on Monday after The Goldman Sachs Group raised their price target on the stock from $58.00 to $73.00. The Goldman Sachs Group currently has a buy rating on the stock. Delek US traded as high as $64.10 and last traded at $63.3170, with a volume of 108576 shares trading hands. The stock had previously closed at $63.25.

DK has been the subject of a number of other reports. JPMorgan Chase & Co. increased their price objective on shares of Delek US from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Weiss Ratings lowered Delek US from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Wall Street Zen raised Delek US from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 18th. Mizuho increased their price target on Delek US from $54.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Finally, UBS Group raised their price target on Delek US from $42.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $50.54.

Insider Buying and Selling

In related news, Director William J. Finnerty sold 5,000 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $51.50, for a total value of $257,500.00. Following the sale, the director owned 34,805 shares in the company, valued at approximately $1,792,457.50. This represents a 12.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Reuven Spiegel sold 10,000 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $44.36, for a total value of $443,600.00. Following the completion of the sale, the executive vice president owned 48,372 shares in the company, valued at approximately $2,145,781.92. This trade represents a 17.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 39,270 shares of company stock valued at $1,828,718. Insiders own 3.56% of the company’s stock.

Hedge Funds Weigh In On Delek US

Several large investors have recently modified their holdings of DK. Vanguard Group Inc. grew its stake in Delek US by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company’s stock valued at $187,773,000 after buying an additional 38,577 shares during the last quarter. Ion Asset Management Ltd. lifted its position in Delek US by 1.8% during the second quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company’s stock worth $79,296,000 after acquiring an additional 67,490 shares during the last quarter. State Street Corp lifted its position in Delek US by 3.4% during the fourth quarter. State Street Corp now owns 2,639,447 shares of the oil and gas company’s stock worth $78,286,000 after acquiring an additional 87,846 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Delek US by 24.7% during the fourth quarter. Morgan Stanley now owns 2,033,037 shares of the oil and gas company’s stock worth $60,300,000 after acquiring an additional 403,059 shares during the period. Finally, ION Fund Management Ltd bought a new stake in shares of Delek US during the fourth quarter worth approximately $52,427,000. 97.01% of the stock is owned by institutional investors.

Delek US Trading Up 2.1%

The business has a fifty day moving average price of $48.65 and a 200-day moving average price of $41.46. The company has a quick ratio of 0.49, a current ratio of 0.76 and a debt-to-equity ratio of 10.51. The company has a market cap of $3.96 billion, a P/E ratio of -70.94, a PEG ratio of 0.34 and a beta of 0.58.

Delek US (NYSE:DK) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.42) by $1.50. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.33 billion. Delek US had a positive return on equity of 22.90% and a negative net margin of 0.48%.The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the company earned ($2.32) earnings per share. On average, analysts forecast that Delek US Holdings, Inc. will post 6.34 earnings per share for the current year.

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.