Delek US (NYSE:DK) Sets New 12-Month High - What's Next?

Key Points

• Delek US Holdings, Inc. shares reached a new 52-week high of $34.50 on Wednesday, reflecting a significant increase from a previous close of $31.53.
• Analysts have shown a positive trend, with ratings changes that include TD Cowen upgrading the stock from "sell" to "hold" and increasing the price target to $28.00.
• The company reported a $2.76 billion revenue for its latest quarter, exceeding analyst estimates, despite a 16.4% decline compared to the same quarter last year.

Shares of Delek US Holdings, Inc. (NYSE:DK - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $34.50 and last traded at $34.51, with a volume of 1399539 shares traded. The stock had previously closed at $31.53.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. TD Cowen raised Delek US from a "sell" rating to a "hold" rating and upped their price target for the company from $15.00 to $28.00 in a research report on Friday, September 19th. The Goldman Sachs Group upped their price target on Delek US from $25.00 to $28.00 and gave the company a "neutral" rating in a research report on Monday, September 15th. Cowen raised Delek US from a "sell" rating to a "hold" rating in a research report on Friday, September 19th. Bank of America boosted their price objective on Delek US from $14.00 to $24.00 and gave the company an "underperform" rating in a research note on Wednesday, September 3rd. Finally, Citigroup reiterated a "neutral" rating and set a $30.00 price objective (up from $15.00) on shares of Delek US in a research note on Wednesday, July 16th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $27.69.

Delek US Trading Up 9.7%

The firm has a 50-day moving average of $27.46 and a 200-day moving average of $21.52. 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 firm has a market capitalization of $2.08 billion, a P/E ratio of -2.81 and a beta of 1.01.

Delek US (NYSE:DK - Get Free Report) last posted 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 return on equity of 79.27% and a negative net margin of 7.11%.The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same period last year, the company earned ($0.92) EPS. Delek US's revenue for the quarter was down 16.4% compared to the same quarter last year. On average, equities research analysts anticipate that Delek US Holdings, Inc. will post -5.5 EPS for the current fiscal year.

Delek US Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders 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 2.9%. Delek US's dividend payout ratio (DPR) is -8.30%.

Insiders Place Their Bets

In other Delek US news, CFO Robert G. Wright sold 7,135 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $29.24, for a total value of $208,627.40. Following the completion of the sale, the chief financial officer owned 48,294 shares in the company, valued at approximately $1,412,116.56. This trade represents a 12.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Comerica Bank raised its stake in Delek US by 96.3% during the first quarter. Comerica Bank now owns 40,336 shares of the oil and gas company's stock valued at $608,000 after buying an additional 19,788 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in Delek US by 238.1% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 750,319 shares of the oil and gas company's stock valued at $11,307,000 after buying an additional 528,400 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in Delek US during the first quarter valued at $13,728,000. Nisa Investment Advisors LLC raised its stake in Delek US by 1,548.4% during the first quarter. Nisa Investment Advisors LLC now owns 13,270 shares of the oil and gas company's stock valued at $200,000 after buying an additional 12,465 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Delek US by 77.4% during the first quarter. Farther Finance Advisors LLC now owns 7,118 shares of the oil and gas company's stock valued at $110,000 after buying an additional 3,105 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.

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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