Delek US (NYSE:DK) Trading 4.4% Higher After Analyst Upgrade

Key Points

• Delek US Holdings, Inc. shares increased by 4.4% after Goldman Sachs raised their price target from $25.00 to $28.00, maintaining a neutral rating on the stock.
• The company reported a quarterly revenue of $2.76 billion, surpassing consensus estimates, but had a negative earnings per share of ($0.56), showing a year-over-year revenue decline of 16.4%.
• Delek US recently announced a quarterly dividend of $0.255, representing an annualized yield of 3.4%, despite having a negative dividend payout ratio of -8.30%.

Delek US Holdings, Inc. (NYSE:DK - Get Free Report)'s stock price shot up 4.4% during mid-day trading on Tuesday after Cowen upgraded the stock from a sell rating to a hold rating. The company traded as high as $29.76 and last traded at $29.74. 112,917 shares traded hands during trading, a decline of 93% from the average session volume of 1,727,328 shares. The stock had previously closed at $28.48.

DK has been the subject of a number of other research reports. UBS Group increased their price target 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. Citigroup reaffirmed a "neutral" rating and set a $30.00 target price (up from $15.00) on shares of Delek US in a research report on Wednesday, July 16th. Scotiabank reaffirmed a "sector perform" rating and set a $20.00 target price (up from $14.00) on shares of Delek US in a research report on Friday, July 11th. TD Cowen raised shares of Delek US from a "sell" rating to a "hold" rating and lifted their price objective for the company from $15.00 to $28.00 in a report on Friday. Finally, Piper Sandler lifted their price target on shares of Delek US from $29.00 to $34.00 and gave the stock a "neutral" rating in a report on Thursday, September 11th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Delek US currently has an average rating of "Hold" and an average target price of $26.54.

Insider Buying and Selling at Delek US

In other news, CFO Robert G. Wright sold 7,135 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $29.24, for a total value of $208,627.40. Following the sale, the chief financial officer directly owned 48,294 shares in the company, 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 this link. Insiders own 1.80% of the company's stock.

Institutional Investors Weigh In On Delek US

A number of institutional investors have recently bought and sold shares of the stock. Orion Porfolio Solutions LLC grew its stake in Delek US by 2.2% during the second quarter. Orion Porfolio Solutions LLC now owns 23,244 shares of the oil and gas company's stock worth $492,000 after buying an additional 507 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Delek US during the second quarter worth $1,066,000. CANADA LIFE ASSURANCE Co increased 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 worth $250,000 after acquiring an additional 955 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Delek US by 216.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,561 shares of the oil and gas company's stock worth $287,000 after acquiring an additional 9,280 shares during the period. Finally, Ion Asset Management Ltd. grew its position in Delek US by 1.8% in the 2nd quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company's stock valued at $79,296,000 after buying an additional 67,490 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Delek US Stock Down 2.3%

The stock's 50-day moving average is $25.54 and its 200-day moving average is $20.06. The stock has a market cap of $1.89 billion, a P/E ratio of -2.55 and a beta of 1.09. The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 10.48.

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

Delek US Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, August 11th. Delek US's dividend 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.