Delek US (NYSE:DK) Director Sells $1,910,748.88 in Stock

Key Points

• Director Gary Jr. Sullivan sold 27,688 Delek US shares for approximately $1.91 million at an average price of $69.01, reducing his direct ownership by 46.38% to 32,004 shares.
• Delek US shares rose 4.7% to $70.78, near their 52-week high of $72.00. The company recently reported quarterly EPS of $5.48, exceeding estimates by $2.81, while revenue increased 47.9% year over year to $4.09 billion.
• The company declared a quarterly dividend of $0.255 per share, equivalent to a $1.02 annualized payout and a 1.4% yield. Analysts maintain a consensus “Hold” rating with an average price target of $53.15, despite some firms issuing bullish upgrades and higher targets.

Delek US Holdings, Inc. (NYSE:DK - Get Free Report) Director Gary Jr. Sullivan sold 27,688 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $69.01, for a total transaction of $1,910,748.88. Following the transaction, the director directly owned 32,004 shares in the company, valued at $2,208,596.04. The trade was a 46.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Delek US Trading Up 4.7%

Shares of DK traded up $3.19 during mid-day trading on Wednesday, hitting $70.78. The company had a trading volume of 1,718,516 shares, compared to its average volume of 1,460,505. Delek US Holdings, Inc. has a 1-year low of $25.66 and a 1-year high of $72.00. The business's 50-day simple moving average is $59.52 and its 200-day simple moving average is $48.31. The stock has a market cap of $4.33 billion, a PE ratio of 19.88, a P/E/G ratio of 1.47 and a beta of 0.57. The company has a quick ratio of 0.47, a current ratio of 0.76 and a debt-to-equity ratio of 7.53.

Delek US (NYSE:DK - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.67 by $2.81. Delek US had a return on equity of 109.03% and a net margin of 1.86%.The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter in the previous year, the business earned ($0.56) earnings per share. The firm's quarterly revenue was up 47.9% compared to the same quarter last year. Sell-side analysts forecast that Delek US Holdings, Inc. will post 10.1 earnings per share for the current year.

Delek US Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.02 annualized dividend and a yield of 1.4%. Delek US's payout ratio is 28.65%.

Analyst Ratings Changes

DK has been the subject of a number of analyst reports. Citigroup reissued a "neutral" rating on shares of Delek US in a research report on Thursday, August 6th. Morgan Stanley lifted their target price on Delek US from $41.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Friday, June 12th. The Goldman Sachs Group boosted their price target on Delek US from $73.00 to $83.00 and gave the stock a "buy" rating in a research note on Tuesday, August 18th. Mizuho increased their price target on Delek US from $60.00 to $66.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded Delek US from a "sell (d+)" rating to a "hold (c+)" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $53.15.

Hedge Funds Weigh In On Delek US

Several large investors have recently added to or reduced their stakes in DK. Vanguard Group Inc. raised its holdings in shares of Delek US by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company's stock worth $187,773,000 after purchasing an additional 38,577 shares during the period. BlackRock Inc. acquired a new position in shares of Delek US in the 2nd quarter valued at about $275,233,000. Ion Asset Management Ltd. boosted its holdings in shares of 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 during the period. California State Teachers Retirement System grew its position in shares of Delek US by 4,681.3% during the 2nd quarter. California State Teachers Retirement System now owns 3,411,231 shares of the oil and gas company's stock valued at $173,325,000 after buying an additional 3,339,885 shares during the last quarter. Finally, State Street Corp grew its position in shares of Delek US by 3.4% during the 4th quarter. State Street Corp now owns 2,639,447 shares of the oil and gas company's stock valued at $78,286,000 after buying an additional 87,846 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors.

About Delek US

Delek US Holdings, Inc NYSE: DK is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.

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