Delek US (NYSE:DK) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Delek US shares moved above their 200-day moving average, trading as high as $47.87 and last changing hands at $47.66, up about 1% on the day.
• Analyst sentiment remains mixed: several firms recently adjusted ratings and targets, and the stock currently carries an average “Hold” rating with a consensus price target of $45.00.
• The company reported a strong quarterly result, posting $0.08 EPS versus expectations for a loss and beating revenue estimates at $2.65 billion, while also maintaining a quarterly dividend of $0.255 per share.

Delek US Holdings, Inc. (NYSE:DK - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $38.65 and traded as high as $47.87. Delek US shares last traded at $47.66, with a volume of 2,149,002 shares trading hands.

Analyst Upgrades and Downgrades

DK has been the subject of several research analyst reports. Citigroup lifted their target price on Delek US from $33.00 to $44.00 and gave the stock a "neutral" rating in a research note on Monday, April 13th. TD Cowen dropped their price target on Delek US from $60.00 to $44.00 and set a "hold" rating on the stock in a research note on Monday, April 27th. Scotiabank raised Delek US to a "hold" rating in a report on Friday, March 27th. Wall Street Zen raised shares of Delek US from a "buy" rating to a "strong-buy" rating in a research report on Monday, May 18th. Finally, The Goldman Sachs Group upgraded shares of Delek US from a "neutral" rating to a "buy" rating and upped their price objective for the company from $43.00 to $55.00 in a report on Friday, April 10th. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Delek US presently has an average rating of "Hold" and an average price target of $45.00.

Delek US Trading Up 1.0%

The company has a market cap of $2.92 billion, a P/E ratio of -52.37, a PEG ratio of 0.30 and a beta of 0.60. The business has a fifty day moving average price of $44.27 and a 200-day moving average price of $38.65. The company has a quick ratio of 0.49, a current ratio of 0.76 and a debt-to-equity ratio of 10.51.

Delek US (NYSE:DK - Get Free Report) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 EPS for the quarter, beating the consensus estimate of ($1.42) by $1.50. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.33 billion. Delek US had a positive return on equity of 22.90% and a negative net margin of 0.48%.The firm's revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.32) earnings per share. On average, analysts forecast that Delek US Holdings, Inc. will post 5.26 earnings per share for the current year.

Delek US Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, May 1st were issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, May 1st. Delek US's dividend payout ratio is currently -112.09%.

Insider Transactions at Delek US

In other news, EVP Reuven Spiegel sold 10,000 shares of Delek US stock in a transaction on Monday, May 18th. The stock was sold at an average price of $44.36, for a total transaction of $443,600.00. Following the completion of the sale, the executive vice president owned 48,372 shares of the company's stock, valued at approximately $2,145,781.92. This trade represents a 17.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Laurie Z. Tolson sold 4,921 shares of the business's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $46.30, for a total transaction of $227,842.30. Following the completion of the sale, the director directly owned 18,226 shares of the company's stock, valued at approximately $843,863.80. The trade was a 21.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 34,270 shares of company stock worth $1,571,218 over the last quarter. 3.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in DK. ION Fund Management Ltd bought a new stake in shares of Delek US during the 4th quarter valued at $52,427,000. Norges Bank bought a new stake in Delek US during the fourth quarter worth about $48,374,000. Arrowstreet Capital Limited Partnership grew its stake in Delek US by 6,300.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,306,269 shares of the oil and gas company's stock worth $42,153,000 after buying an additional 1,285,861 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Delek US by 1,516.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 996,059 shares of the oil and gas company's stock valued at $29,544,000 after buying an additional 934,448 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Delek US by 1,173.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 954,900 shares of the oil and gas company's stock worth $28,322,000 after acquiring an additional 879,900 shares during the period. 97.01% of the stock is owned by institutional investors.

About Delek US

Delek US Holdings, Inc NYSE: DK is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.

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