Delek US (NYSE:DK) Shares Up 5.7% After Analyst Upgrade

Key Points

• Delek US Holdings, Inc. shares rose 5.7% following an upgrade from Goldman Sachs, which raised the price target from $28.00 to $39.00. The stock last traded at $35.61.
• Several brokerages adjusted their ratings and price targets on Delek US, with most analysts now rating the stock as a "Hold," while the average target price stands at $33.00.
• Institutional investors have significantly invested in Delek US, with hedge funds owning 97.01% of the company's stock, reflecting strong institutional interest.

Delek US Holdings, Inc. (NYSE:DK - Get Free Report) shares shot up 5.7% during mid-day trading on Wednesday 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 $35.18 and last traded at $35.61. 1,073,507 shares were traded during mid-day trading, a decline of 37% from the average session volume of 1,717,259 shares. The stock had previously closed at $33.68.

Several other brokerages have also recently commented on DK. JPMorgan Chase & Co. boosted their price target on Delek US from $19.00 to $35.00 and gave the company a "neutral" rating in a research note on Wednesday, October 15th. Cowen upgraded Delek US from a "sell" rating to a "hold" rating in a research note on Friday, September 19th. Weiss Ratings restated a "sell (d-)" rating on shares of Delek US in a research note on Wednesday, October 8th. Piper Sandler increased 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, Raymond James Financial increased their target price on Delek US from $33.00 to $37.00 and gave the stock an "outperform" rating in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $33.00.

Insider Transactions at Delek US

In other Delek US news, CFO Robert G. Wright sold 7,135 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $29.24, for a total value of $208,627.40. Following the transaction, the chief financial officer 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 transaction was disclosed in a filing with the SEC, which is available through this link. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of Delek US

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. bought a new stake in shares of Delek US in the 1st quarter valued at approximately $13,728,000. Nuveen LLC purchased a new stake in shares of Delek US during the first quarter valued at $13,629,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings 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 last quarter. Callodine Capital Management LP raised its position in Delek US by 1,827.6% during the first quarter. Callodine Capital Management LP now owns 674,661 shares of the oil and gas company's stock valued at $10,167,000 after buying an additional 639,661 shares during the period. Finally, Bank of America Corp DE increased its position in Delek US by 144.3% in the 2nd quarter. Bank of America Corp DE now owns 632,695 shares of the oil and gas company's stock worth $13,400,000 after purchasing an additional 373,678 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.

Delek US Stock Performance

The firm has a 50 day moving average of $30.01 and a two-hundred day moving average of $22.82. 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 stock has a market cap of $2.14 billion, a P/E ratio of -2.89 and a beta of 1.01.

Delek US (NYSE:DK - Get Free Report) last released 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 during the quarter. Delek US had a negative return on equity of 79.27% and a negative net margin of 7.11%. On average, research analysts predict that Delek US Holdings, Inc. will post -5.5 EPS for the current fiscal year.

Delek US Dividend Announcement

The business also recently declared 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 2.9%. Delek US's dividend payout ratio 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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