Delek US (NYSE:DK) Shares Up 6.2% After 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 stock price traded up 6.2% during mid-day trading on Tuesday after Raymond James Financial raised their price target on the stock from $26.00 to $33.00. Raymond James Financial currently has an outperform rating on the stock. Delek US traded as high as $31.88 and last traded at $32.08. 607,292 shares changed hands during trading, a decline of 64% from the average session volume of 1,703,901 shares. The stock had previously closed at $30.20.

A number of other equities analysts also recently issued reports on the company. The Goldman Sachs Group raised their price objective on Delek US from $15.00 to $17.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. UBS Group upped their price target on Delek US from $24.00 to $29.00 and gave the stock a "neutral" rating in a report on Tuesday, September 2nd. Piper Sandler raised their price target on shares of Delek US from $17.00 to $27.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Cowen reissued a "sell" rating on shares of Delek US in a research report on Friday, August 8th. Finally, Wolfe Research raised Delek US from a "peer perform" rating to an "outperform" rating and set a $40.00 price target for the company in a research report on Wednesday, September 3rd. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, Delek US has an average rating of "Reduce" and an average price target of $24.15.

Insider Activity

In other Delek US news, CFO Robert G. Wright sold 7,135 shares of the firm'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 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 filing with the SEC, which is available at this link. 1.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Delek US

A number of large investors have recently added to or reduced their stakes in DK. AMG National Trust Bank raised its stake in shares of Delek US by 0.4% in the second quarter. AMG National Trust Bank now owns 109,223 shares of the oil and gas company's stock worth $2,313,000 after buying an additional 472 shares during the period. Orion Porfolio Solutions LLC grew its stake in Delek US by 2.2% in the second quarter. Orion Porfolio Solutions LLC now owns 23,244 shares of the oil and gas company's stock valued at $492,000 after purchasing an additional 507 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its holdings in Delek US by 5.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 13,546 shares of the oil and gas company's stock worth $287,000 after purchasing an additional 686 shares in the last quarter. Rafferty Asset Management LLC lifted its position in shares of Delek US by 0.7% during the fourth quarter. Rafferty Asset Management LLC now owns 114,701 shares of the oil and gas company's stock valued at $2,122,000 after buying an additional 797 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of Delek US by 8.8% in 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. 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 stock has a market cap of $1.92 billion, a PE ratio of -2.61 and a beta of 1.09. The business's 50-day moving average price is $24.41 and its 200-day moving average price is $19.21.

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

Delek US Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 11th were paid 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 payout ratio is -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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