Delek US (NYSE:DK) Reaches New 12-Month High - Here's What Happened

Key Points

• Delek US shares hit a new 52-week high, trading as high as $52.30 after closing at $47.82 the previous session, and were last up about 7.9% on the day.
• Recent analyst activity has been mixed but generally constructive: several firms raised price targets, and Wall Street Zen upgraded the stock to strong-buy, though the consensus rating remains Hold with an average target price of $46.08.
• The company’s latest earnings beat expectations, posting $0.08 EPS versus an expected loss, while revenue of $2.65 billion also topped estimates; Delek US additionally paid a quarterly dividend of $0.255 per share, or $1.02 annualized.

Delek US Holdings, Inc. (NYSE:DK - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as $52.30 and last traded at $51.04, with a volume of 107386 shares traded. The stock had previously closed at $47.82.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DK. Wall Street Zen raised Delek US from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 18th. Scotiabank raised shares of Delek US to a "hold" rating in a research report on Friday, March 27th. Mizuho upped their price objective on shares of Delek US from $54.00 to $60.00 and gave the company an "outperform" rating in a report on Wednesday, May 27th. Wells Fargo & Company raised their price objective on shares of Delek US from $54.00 to $59.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 31st. Finally, Citigroup lifted their target price on shares of Delek US from $33.00 to $44.00 and gave the stock a "neutral" rating in a research note on Monday, April 13th. Six research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $46.08.

Delek US Trading Up 7.9%

The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of -56.48, a PEG ratio of 0.31 and a beta of 0.60. The business's 50-day simple moving average is $44.27 and its two-hundred day simple moving average is $38.67. The company has a quick ratio of 0.49, a current ratio of 0.76 and a debt-to-equity ratio of 10.51.

Delek US (NYSE:DK - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.08 EPS for the quarter, topping the consensus estimate of ($1.42) by $1.50. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.33 billion. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. The business's revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.32) EPS. Equities analysts forecast that Delek US Holdings, Inc. will post 5.26 earnings per share for the current year.

Delek US Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, May 1st were paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, May 1st. Delek US's dividend payout ratio is -112.09%.

Insider Transactions at Delek US

In other news, EVP Robert G. Wright sold 10,720 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $47.07, for a total transaction of $504,590.40. Following the sale, the executive vice president owned 48,148 shares of the company's stock, valued at approximately $2,266,326.36. This represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vicky Sutil sold 3,061 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $46.00, for a total transaction of $140,806.00. Following the sale, the director directly owned 31,239 shares in the company, valued at $1,436,994. This represents a 8.92% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 34,270 shares of company stock valued at $1,571,218. Corporate insiders own 3.56% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Thoroughbred Financial Services LLC boosted its position in Delek US by 1.3% in the 4th quarter. Thoroughbred Financial Services LLC now owns 27,164 shares of the oil and gas company's stock valued at $805,000 after buying an additional 348 shares during the period. New York State Common Retirement Fund increased its position in shares of Delek US by 1.8% during the fourth quarter. New York State Common Retirement Fund now owns 22,048 shares of the oil and gas company's stock worth $654,000 after acquiring an additional 400 shares during the period. Aster Capital Management DIFC Ltd increased its position in shares of Delek US by 23.2% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,259 shares of the oil and gas company's stock worth $67,000 after acquiring an additional 425 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of Delek US by 95.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company's stock valued at $26,000 after acquiring an additional 432 shares in the last quarter. Finally, Orion Porfolio Solutions LLC raised its stake in shares of Delek US by 2.2% in the second quarter. Orion Porfolio Solutions LLC now owns 23,244 shares of the oil and gas company's stock valued at $492,000 after acquiring an additional 507 shares in the last quarter. 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.

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