Delek US (NYSE:DK) Stock Price Up 4.4% Following 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) shares rose 4.4% during mid-day trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $25.00 to $28.00. The Goldman Sachs Group currently has a neutral rating on the stock. Delek US traded as high as $29.76 and last traded at $29.74. Approximately 112,917 shares changed hands during trading, a decline of 93% from the average daily volume of 1,727,328 shares. The stock had previously closed at $28.48.

DK has been the subject of several other research reports. Scotiabank reiterated a "sector perform" rating and set a $20.00 target price (up previously from $14.00) on shares of Delek US in a research note on Friday, July 11th. Wolfe Research upgraded shares of Delek US from a "peer perform" rating to an "outperform" rating and set a $40.00 target price for the company in a research note on Wednesday, September 3rd. Morgan Stanley upped their price target on shares of Delek US from $15.00 to $19.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 16th. TD Cowen lowered their price target on shares of Delek US from $18.00 to $15.00 and set a "sell" rating for the company in a research report on Friday, August 8th. Finally, Cowen restated a "sell" rating on shares of Delek US in a research report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, Delek US currently has an average rating of "Reduce" and an average target price of $25.54.

Insiders Place Their Bets

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 completion of the sale, the chief financial officer directly owned 48,294 shares of the company's stock, valued at approximately $1,412,116.56. This represents a 12.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.90% of the company's stock.

Institutional Trading of Delek US

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC raised its holdings in Delek US by 100.9% during the 1st quarter. CWM LLC now owns 2,318 shares of the oil and gas company's stock worth $35,000 after buying an additional 1,164 shares during the period. AlphaQuest LLC increased its holdings in shares of Delek US by 7,331.8% in the 2nd quarter. AlphaQuest LLC now owns 1,635 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 1,613 shares during the period. Creative Financial Designs Inc. ADV acquired a new position in shares of Delek US in the 1st quarter valued at about $47,000. GAMMA Investing LLC increased its holdings in shares of Delek US by 907.0% in the 1st quarter. GAMMA Investing LLC now owns 4,159 shares of the oil and gas company's stock valued at $63,000 after purchasing an additional 3,746 shares during the period. Finally, State of Wyoming acquired a new position in shares of Delek US in the 1st quarter valued at about $95,000. Institutional investors and hedge funds own 97.01% of the company's stock.

Delek US Stock Up 5.8%

The company has a market cap of $1.81 billion, a price-to-earnings ratio of -2.45 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. The business has a fifty day moving average price of $25.05 and a two-hundred day moving average price of $19.68.

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

Delek US Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 11th were issued a $0.255 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.02 dividend on an annualized basis and a yield of 3.4%. Delek US's dividend payout ratio is currently -8.30%.

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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