Delek US (NYSE:DK) Sets New 1-Year High Following 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) reached a new 52-week high during trading on Wednesday after Raymond James Financial raised their price target on the stock from $26.00 to $33.00. Raymond James Financial currently has an outperform rating on the stock. Delek US traded as high as $32.61 and last traded at $32.04, with a volume of 2553694 shares changing hands. The stock had previously closed at $30.20.

Several other analysts have also recently weighed in on the stock. Bank of America lifted their price objective on shares of Delek US from $14.00 to $24.00 and gave the stock an "underperform" rating in a research note on Wednesday, September 3rd. Wells Fargo & Company lifted their price target on shares of Delek US from $11.00 to $15.00 and gave the company an "underweight" rating in a research report on Wednesday, June 11th. Wolfe Research upgraded shares of Delek US from a "peer perform" rating to an "outperform" rating and set a $40.00 price target for the company in a research report on Wednesday, September 3rd. TD Cowen dropped their price target on shares of Delek US from $18.00 to $15.00 and set a "sell" rating for the company in a research report on Friday, August 8th. Finally, The Goldman Sachs Group lifted their price objective on Delek US from $15.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $24.15.

Insider Transactions at Delek US

In related news, CFO Robert G. Wright sold 7,135 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $29.24, for a total transaction of $208,627.40. Following the completion of the transaction, the chief financial officer directly owned 48,294 shares in the company, valued at $1,412,116.56. This represents a 12.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Delek US

Large investors have recently bought and sold shares of the stock. CWM LLC grew its stake in Delek US by 100.9% in the first quarter. CWM LLC now owns 2,318 shares of the oil and gas company's stock valued at $35,000 after acquiring an additional 1,164 shares during the period. AlphaQuest LLC grew its stake in Delek US by 7,331.8% in the second quarter. AlphaQuest LLC now owns 1,635 shares of the oil and gas company's stock valued at $35,000 after acquiring an additional 1,613 shares during the period. Creative Financial Designs Inc. ADV acquired a new stake in Delek US in the 1st quarter valued at $47,000. GAMMA Investing LLC grew its position in Delek US by 907.0% in the 1st quarter. GAMMA Investing LLC now owns 4,159 shares of the oil and gas company's stock valued at $63,000 after purchasing an additional 3,746 shares during the period. Finally, State of Wyoming acquired a new stake in Delek US in the 1st quarter valued at $95,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Delek US Trading Up 6.1%

The firm's 50-day moving average is $24.62 and its 200-day moving average is $19.30. The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 10.48. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of -2.61 and a beta of 1.09.

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

Delek US Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 11th were paid a dividend of $0.255 per share. The ex-dividend date was Monday, August 11th. This represents a $1.02 dividend on an annualized basis and a yield of 3.2%. Delek US's payout ratio is -8.30%.

Delek US Company Profile

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.

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