Delek US (NYSE:DK) Trading Up 6.2% Following Analyst Upgrade

Key Points

• Delek US Holdings' stock price rose 6.2% after Raymond James upgraded their price target from $26.00 to $33.00, maintaining an outperform rating.
• Despite the recent upgrades, analysts have mixed ratings on the stock, with three ratings as Buy, six as Hold, and five as Sell, leading to an average target price of $24.15.
• The company recently reported quarterly earnings with a loss of ($0.56) per share, outperforming analysts' expectations, but revenue decreased by 16.4% year-over-year.

Delek US Holdings, Inc. (NYSE:DK - Get Free Report)'s share price rose 6.2% during mid-day trading on Tuesday after Piper Sandler raised their price target on the stock from $29.00 to $34.00. Piper Sandler currently has a neutral rating on the stock. Delek US traded as high as $31.88 and last traded at $32.08. Approximately 607,292 shares traded hands during trading, a decline of 64% from the average daily volume of 1,703,901 shares. The stock had previously closed at $30.20.

DK has been the topic of a number of other research reports. Wolfe Research upgraded shares of Delek US from a "peer perform" rating to an "outperform" rating and set a $40.00 price target on the stock in a research note on Wednesday, September 3rd. Scotiabank reissued a "sector perform" rating and set a $20.00 price target (up from $14.00) on shares of Delek US in a report on Friday, July 11th. Citigroup reaffirmed a "neutral" rating and set a $30.00 price objective (up from $15.00) on shares of Delek US in a report on Wednesday, July 16th. UBS Group increased their price objective on shares of Delek US from $24.00 to $29.00 and gave the company a "neutral" rating in a report on Tuesday, September 2nd. Finally, Bank of America increased their price objective on shares of Delek US from $14.00 to $24.00 and gave the company an "underperform" rating in a report on Wednesday, September 3rd. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $24.69.

Insider Buying and Selling at Delek US

In other Delek US news, CFO Robert G. Wright sold 7,135 shares of Delek US stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $29.24, for a total transaction of $208,627.40. Following the completion of the sale, the chief financial officer directly owned 48,294 shares in the company, valued at $1,412,116.56. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank boosted its stake in shares of Delek US by 96.3% in the first quarter. Comerica Bank now owns 40,336 shares of the oil and gas company's stock valued at $608,000 after purchasing an additional 19,788 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Delek US by 238.1% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 750,319 shares of the oil and gas company's stock worth $11,307,000 after acquiring an additional 528,400 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in Delek US in the first quarter worth approximately $13,728,000. Nisa Investment Advisors LLC lifted its stake in Delek US by 1,548.4% in the first quarter. Nisa Investment Advisors LLC now owns 13,270 shares of the oil and gas company's stock worth $200,000 after acquiring an additional 12,465 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Delek US by 77.4% in the first quarter. Farther Finance Advisors LLC now owns 7,118 shares of the oil and gas company's stock worth $110,000 after acquiring 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 Stock Performance

The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 10.48. The firm's fifty day moving average price is $24.95 and its 200-day moving average price is $19.57. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -2.27 and a beta of 1.09.

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

Delek US Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 11th were given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Monday, August 11th. Delek US's dividend payout ratio (DPR) is presently -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.