Delek US (NYSE:DK) Shares Down 5.1% - Time to Sell?

Key Points

• Delek US Holdings, Inc. shares dropped 5.1% during trading, closing at $31.12, amid a significant decline in trading volume of 72% compared to its average.
• Analyst ratings for Delek US vary, with three analysts recommending a "Buy," eight a "Hold," and three a "Sell," while the average target price is $26.54.
• Delek US recently announced a quarterly dividend of $0.255 per share, translating to an annualized yield of 3.2%, despite a negative return on equity of 79.27% reported in its latest earnings.

Delek US Holdings, Inc. (NYSE:DK - Get Free Report) was down 5.1% during trading on Monday . The company traded as low as $31.10 and last traded at $31.12. Approximately 489,490 shares traded hands during trading, a decline of 72% from the average daily volume of 1,748,803 shares. The stock had previously closed at $32.79.

Wall Street Analysts Forecast Growth

DK has been the subject of several recent analyst reports. Wells Fargo & Company lifted their target price on shares of Delek US from $11.00 to $15.00 and gave the stock an "underweight" rating in a research note on Wednesday, June 11th. Wolfe Research raised Delek US from a "peer perform" rating to an "outperform" rating and set a $40.00 price objective for the company in a research report on Wednesday, September 3rd. Piper Sandler lifted their price objective on Delek US from $29.00 to $34.00 and gave the company a "neutral" rating in a research report on Thursday, September 11th. Cowen upgraded Delek US from a "sell" rating to a "hold" rating in a report on Friday, September 19th. Finally, Raymond James Financial lifted their price target on Delek US from $26.00 to $33.00 and gave the company an "outperform" rating in a report on Tuesday, September 9th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Delek US currently has an average rating of "Hold" and an average target price of $26.54.

Delek US Stock Down 1.5%

The business's 50 day moving average is $26.28 and its 200-day moving average is $20.79. 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 $1.94 billion, a price-to-earnings ratio of -2.63 and a beta of 1.09.

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

Delek US Announces Dividend

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

Insiders Place Their Bets

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

Institutional Trading of Delek US

A number of hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC acquired a new stake in Delek US in the fourth quarter worth $856,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Delek US in the 4th quarter valued at about $780,000. Mackenzie Financial Corp raised its position in Delek US by 67.8% in the 4th quarter. Mackenzie Financial Corp now owns 39,617 shares of the oil and gas company's stock valued at $733,000 after buying an additional 16,009 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Delek US by 907.0% in the first 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 last quarter. Finally, Rhumbline Advisers increased its stake in Delek US by 3.4% in the 1st quarter. Rhumbline Advisers now owns 121,201 shares of the oil and gas company's stock valued at $1,826,000 after buying an additional 4,031 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.