Delek US (NYSE:DK) Sets New 12-Month High on Analyst Upgrade

Key Points

• Delek US (NYSE:DK) shares soared to a new 52-week high, reaching $36.44 after Goldman Sachs upgraded its price target from $28.00 to $39.00, although they maintain a neutral rating.
• Various analysts have set differing price targets for Delek US, with Wells Fargo's target at $43.00, while the consensus target price currently stands at $33.00.
• Despite a recent $0.255 quarterly dividend declaration, the company's dividend payout ratio is at -8.30%, indicating negative earnings in relation to dividends paid.

Delek US Holdings, Inc. (NYSE:DK - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday after The Goldman Sachs Group raised their price target on the stock from $28.00 to $39.00. The Goldman Sachs Group currently has a neutral rating on the stock. Delek US traded as high as $36.07 and last traded at $36.44, with a volume of 2699 shares traded. The stock had previously closed at $35.57.

A number of other analysts have also weighed in on DK. Wells Fargo & Company assumed coverage on shares of Delek US in a report on Friday, October 17th. They set an "overweight" rating and a $43.00 target price for the company. Morgan Stanley set a $34.00 target price on shares of Delek US and gave the company an "equal weight" rating in a research note on Friday, October 3rd. Citigroup reissued a "neutral" rating and set a $30.00 price target (up from $15.00) on shares of Delek US in a report on Wednesday, July 16th. JPMorgan Chase & Co. increased their target price on Delek US from $19.00 to $35.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 15th. Finally, Bank of America boosted their price target on Delek US from $14.00 to $24.00 and gave the stock an "underperform" rating in a report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Delek US presently has an average rating of "Hold" and a consensus target price of $33.00.

Insider Buying and Selling

In other Delek US news, CFO Robert G. Wright sold 7,135 shares of the stock in a transaction 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 transaction, the chief financial officer directly owned 48,294 shares of the company's stock, valued at $1,412,116.56. This trade represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Ion Asset Management Ltd. raised its position in Delek US by 1.8% in the 2nd quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company's stock valued at $79,296,000 after purchasing an additional 67,490 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Delek US by 113.5% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,601,777 shares of the oil and gas company's stock valued at $33,926,000 after purchasing an additional 851,458 shares during the period. Allianz Asset Management GmbH grew its position in shares of Delek US by 25.2% during the second quarter. Allianz Asset Management GmbH now owns 1,051,066 shares of the oil and gas company's stock worth $22,262,000 after buying an additional 211,791 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Delek US by 35.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,037,599 shares of the oil and gas company's stock worth $15,637,000 after buying an additional 270,792 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Delek US by 9.2% in the first quarter. Northern Trust Corp now owns 987,086 shares of the oil and gas company's stock worth $14,875,000 after purchasing an additional 83,246 shares during the period. Hedge funds and other institutional investors own 97.01% of the company's stock.

Delek US Price Performance

The business has a 50 day simple moving average of $30.29 and a 200-day simple moving average of $22.91. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 10.48. The company has a market capitalization of $2.25 billion, a P/E ratio of -3.04 and a beta of 1.01.

Delek US (NYSE:DK - Get Free Report) last issued its quarterly earnings results on Tuesday, December 6th. The oil and gas company reported $0.05 earnings per share for the quarter. The firm had revenue of $2.96 billion for the quarter. Delek US had a negative return on equity of 79.27% and a negative net margin of 7.11%. Analysts predict that Delek US Holdings, Inc. will post -5.5 EPS for the current fiscal year.

Delek US Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 11th were issued a $0.255 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.02 annualized dividend and a yield of 2.7%. Delek US's dividend payout ratio (DPR) is currently -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.

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