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

Key Points

• Delek US Holdings, Inc. has reached a new 52-week high with a price target increase from $26.00 to $33.00 by Raymond James Financial, maintaining an outperform rating on the stock.
• Despite the recent gains, a mix of ratings from other analysts indicates varied market sentiments, with three analysts rating the stock as a Buy, while six recommended Hold and five issued Sell ratings.
• Delek US recently declared a quarterly dividend of $0.255 per share, reflecting an annualized yield of 3.2%, although the company's payout ratio is negative at -8.30%.

Delek US Holdings, Inc. (NYSE:DK - Get Free Report)'s share price hit a new 52-week high on Wednesday after Piper Sandler raised their price target on the stock from $29.00 to $34.00. Piper Sandler currently has a neutral rating on the stock. Delek US traded as high as $32.61 and last traded at $32.04, with a volume of 2553694 shares traded. The stock had previously closed at $30.20.

A number of other equities analysts have also recently issued reports on the stock. Bank of America increased their price objective on shares of Delek US from $14.00 to $24.00 and gave the stock an "underperform" rating in a research report on Wednesday, September 3rd. Wells Fargo & Company increased their price objective on shares of Delek US from $11.00 to $15.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 11th. Scotiabank reissued a "sector perform" rating and set a $20.00 price objective (up previously from $14.00) on shares of Delek US in a research report on Friday, July 11th. Raymond James Financial increased their price objective on shares of Delek US from $26.00 to $33.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 9th. Finally, Citigroup reissued a "neutral" rating and set a $30.00 price objective (up previously from $15.00) on shares of Delek US in a research report on Wednesday, July 16th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average target price of $24.69.

Insiders Place Their Bets

In related news, CFO Robert G. Wright sold 7,135 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $29.24, for a total value of $208,627.40. Following the transaction, the chief financial officer owned 48,294 shares of the company's stock, valued at approximately $1,412,116.56. This trade represents a 12.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Delek US

Several hedge funds have recently modified their holdings of DK. CWM LLC lifted its position in shares of Delek US by 100.9% during the 1st quarter. CWM LLC now owns 2,318 shares of the oil and gas company's stock worth $35,000 after buying an additional 1,164 shares in the last quarter. AlphaQuest LLC increased its stake in shares of Delek US by 7,331.8% during the 2nd quarter. AlphaQuest LLC now owns 1,635 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 1,613 shares during the last quarter. Creative Financial Designs Inc. ADV purchased a new stake in shares of Delek US during the 1st quarter worth approximately $47,000. GAMMA Investing LLC increased its stake in shares of Delek US by 907.0% during the 1st quarter. GAMMA Investing LLC now owns 4,159 shares of the oil and gas company's stock worth $63,000 after purchasing an additional 3,746 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Delek US during the 1st quarter worth approximately $95,000. Institutional investors own 97.01% of the company's stock.

Delek US Stock Performance

The company's 50 day moving average price is $24.95 and its 200-day moving average price is $19.60. The company has a debt-to-equity ratio of 10.48, a quick ratio of 0.50 and a current ratio of 0.80. The company has a market cap of $1.68 billion, a PE ratio of -2.27 and a beta of 1.09.

Delek US (NYSE:DK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.36. Delek US had a negative net margin of 7.11% and a negative return on equity of 79.27%. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same quarter last year, the business posted ($0.92) EPS. Delek US's quarterly revenue was down 16.4% compared to the same quarter last year. Equities research analysts anticipate that Delek US Holdings, Inc. will post -5.5 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 11th were issued a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.02 dividend on an annualized basis and a yield of 3.7%. Delek US's payout ratio is presently -8.30%.

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.