Delek US (NYSE:DK) Shares Gap Up - Here's Why

Key Points

• Delek US Holdings, Inc. (NYSE:DK) saw its share price increase from $33.02 to $33.94 before opening trading, with the last traded price at $33.61.
• Multiple investment analysts upgraded Delek US's rating to "hold," with Raymond James Financial setting a price target of $37.00 for the stock.
• The company announced a quarterly dividend of $0.255 per share, resulting in an annualized dividend yield of 3.0%.

Delek US Holdings, Inc. (NYSE:DK - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $33.02, but opened at $33.94. Delek US shares last traded at $33.61, with a volume of 119,886 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DK shares. Wall Street Zen raised Delek US from a "sell" rating to a "hold" rating in a research note on Friday, October 3rd. Cowen raised Delek US from a "sell" rating to a "hold" rating in a research note on Friday, September 19th. Raymond James Financial reaffirmed an "outperform" rating and issued a $37.00 price objective on shares of Delek US in a research note on Friday. Piper Sandler lifted their price objective on Delek US from $29.00 to $34.00 and gave the stock a "neutral" rating in a research note on Thursday, September 11th. Finally, Morgan Stanley set a $34.00 price objective on Delek US and gave the stock an "equal weight" rating in a research note on Friday, October 3rd. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Delek US presently has a consensus rating of "Hold" and an average target price of $32.15.

Delek US Price Performance

The stock has a market capitalization of $2.05 billion, a P/E ratio of -2.78 and a beta of 1.01. The business has a fifty day simple moving average of $29.22 and a 200-day simple moving average of $22.35. 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 posted its quarterly earnings results on Tuesday, December 6th. The oil and gas company reported $0.05 earnings per share (EPS) 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%. Sell-side analysts expect that Delek US Holdings, Inc. will post -5.5 earnings per share for the current fiscal year.

Delek US Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 11th were issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, August 11th. Delek US's dividend payout ratio is presently -8.30%.

Insider Buying and Selling at Delek US

In other news, CFO Robert G. Wright sold 7,135 shares of the company's 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 transaction, the chief financial officer directly owned 48,294 shares of the company's stock, valued at $1,412,116.56. This represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Delek US

A number of institutional investors and hedge funds have recently bought and sold shares of DK. AMG National Trust Bank raised its holdings in shares of Delek US by 0.4% in the 2nd quarter. AMG National Trust Bank now owns 109,223 shares of the oil and gas company's stock valued at $2,313,000 after acquiring an additional 472 shares in the last quarter. Orion Porfolio Solutions LLC raised its holdings in shares of Delek US by 2.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 23,244 shares of the oil and gas company's stock valued at $492,000 after buying an additional 507 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Delek US by 5.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 13,546 shares of the oil and gas company's stock valued at $287,000 after buying an additional 686 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Delek US by 8.8% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 11,782 shares of the oil and gas company's stock valued at $250,000 after buying an additional 955 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Delek US by 3.0% during the 2nd quarter. International Assets Investment Management LLC now owns 35,186 shares of the oil and gas company's stock valued at $745,000 after buying an additional 1,029 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

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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