Delek US (NYSE:DK) Hits New 52-Week High After Analyst Upgrade

Key Points

• Delek US Holdings, Inc. reached a new 52-week high of $32.76 following an upgrade from Cowen, which changed its rating from sell to hold.
• Multiple analysts have raised their target prices for Delek US, with Raymond James setting the highest target at $40.00, contributing to a consensus target price of $26.54.
• The company reported a quarterly revenue of $2.76 billion, exceeding expectations, but suffered a net loss with earnings per share of ($0.56).

Delek US Holdings, Inc. (NYSE:DK - Get Free Report) reached a new 52-week high during mid-day trading on Monday after Cowen upgraded the stock from a sell rating to a hold rating. The company traded as high as $32.76 and last traded at $32.40, with a volume of 1416586 shares. The stock had previously closed at $31.30.

Several other equities research analysts have also issued reports on the stock. Raymond James Financial lifted their price target on shares of Delek US from $26.00 to $33.00 and gave the company an "outperform" rating in a report on Tuesday, September 9th. UBS Group lifted their price target on shares of Delek US from $24.00 to $29.00 and gave the company a "neutral" rating in a report on Tuesday, September 2nd. Piper Sandler lifted their price target on shares of Delek US from $29.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, September 11th. Wolfe Research raised shares of Delek US from a "peer perform" rating to an "outperform" rating and set a $40.00 target price on the stock in a report on Wednesday, September 3rd. Finally, Morgan Stanley boosted their price target on shares of Delek US from $15.00 to $19.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $26.54.

Insider Buying and Selling 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 value of $208,627.40. Following the transaction, the chief financial officer directly owned 48,294 shares in the company, valued at approximately $1,412,116.56. This represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Delek US by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,088 shares of the oil and gas company's stock worth $668,000 after purchasing an additional 1,227 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Delek US by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 17,857 shares of the oil and gas company's stock valued at $330,000 after purchasing an additional 5,874 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Delek US in the 4th quarter worth approximately $856,000. GTS Securities LLC purchased a new stake in Delek US in the 4th quarter worth approximately $390,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Delek US in the 4th quarter worth approximately $780,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Delek US Stock Up 5.5%

The company's fifty day moving average is $25.66 and its 200-day moving average is $20.26. The company has a market capitalization of $2.05 billion, a PE ratio of -2.78 and a beta of 1.09. The company has a debt-to-equity ratio of 10.48, a quick ratio of 0.50 and a current ratio of 0.80.

Delek US (NYSE:DK - Get Free Report) last released its 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 period in the prior year, the firm posted ($0.92) EPS. The firm's quarterly revenue was down 16.4% compared to the same quarter last year. As a group, analysts predict that Delek US Holdings, Inc. will post -5.5 EPS for the current fiscal year.

Delek US Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, August 11th. Delek US's dividend payout ratio (DPR) is -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.