Delek US (NYSE:DK) CEO Avigal Soreq Sells 80,000 Shares of Stock

Key Points

• CEO Avigal Soreq sold 80,000 Delek US shares for approximately $5.32 million under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 25.68% to 231,486 shares.
• Delek US shares rose 1.1% to $67.94, near their 52-week high, after the company reported quarterly EPS of $5.48—well above the $2.67 analyst consensus—and revenue growth of 47.9% year over year.
• The company paid a quarterly dividend of $0.255 per share, equivalent to a $1.02 annualized dividend and a 1.5% yield. Analysts’ average rating remains Hold, with a consensus price target of $53.15.

Delek US Holdings, Inc. (NYSE:DK - Get Free Report) CEO Avigal Soreq sold 80,000 shares of the business's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $66.51, for a total transaction of $5,320,800.00. Following the transaction, the chief executive officer directly owned 231,486 shares in the company, valued at approximately $15,396,133.86. The trade was a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Delek US Stock Up 1.1%

DK traded up $0.73 on Tuesday, reaching $67.94. The company's stock had a trading volume of 1,478,303 shares, compared to its average volume of 1,264,624. The company has a debt-to-equity ratio of 7.53, a current ratio of 0.76 and a quick ratio of 0.47. Delek US Holdings, Inc. has a 1 year low of $21.09 and a 1 year high of $68.93. The business's 50 day moving average is $56.84 and its 200 day moving average is $46.74. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 1.42 and a beta of 0.57.

Delek US (NYSE:DK - Get Free Report) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.67 by $2.81. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $3.44 billion. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The company's revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.56) EPS. As a group, research analysts forecast that Delek US Holdings, Inc. will post 10.1 EPS for the current fiscal year.

Delek US Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, August 3rd. Delek US's payout ratio is 28.65%.

Institutional Trading of Delek US

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Delek US by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company's stock worth $187,773,000 after acquiring an additional 38,577 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Delek US in the second quarter valued at approximately $275,233,000. Ion Asset Management Ltd. lifted its position in shares of Delek US by 1.8% in 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 purchasing an additional 67,490 shares in the last quarter. State Street Corp grew its position in Delek US by 3.4% in the fourth quarter. State Street Corp now owns 2,639,447 shares of the oil and gas company's stock valued at $78,286,000 after purchasing an additional 87,846 shares in the last quarter. Finally, Morgan Stanley increased its stake in Delek US by 24.7% in the 4th quarter. Morgan Stanley now owns 2,033,037 shares of the oil and gas company's stock valued at $60,300,000 after buying an additional 403,059 shares during the last quarter. 97.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DK shares. Zacks Research upgraded shares of Delek US from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 26th. TD Cowen lifted their price objective on Delek US from $58.00 to $76.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Citigroup reaffirmed a "neutral" rating on shares of Delek US in a research report on Thursday, August 6th. The Goldman Sachs Group boosted their target price on shares of Delek US from $73.00 to $83.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Weiss Ratings upgraded shares of Delek US from a "sell (d+)" rating to a "hold (c+)" rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Delek US has an average rating of "Hold" and a consensus price target of $53.15.

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.

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