Insider Selling: Delek US (NYSE:DK) EVP Sells 10,720 Shares of Stock

Key Points

• Delek US EVP Robert Wright sold 10,720 shares on May 13 at an average price of $47.07, totaling about $504,590. After the sale, he still held 48,148 shares, reducing his position by 18.21%.
• The company beat quarterly earnings expectations in its April 29 report, posting $0.08 EPS versus analysts’ estimate of a loss of $1.42 and revenue of $2.65 billion, above the $2.33 billion forecast.
• Delek US recently paid a quarterly dividend of $0.255 per share, which annualizes to $1.02 and yields about 2.3% at current levels.

Delek US Holdings, Inc. (NYSE:DK - Get Free Report) EVP Robert Wright sold 10,720 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $47.07, for a total transaction of $504,590.40. Following the completion of the sale, the executive vice president directly owned 48,148 shares of the company's stock, valued at approximately $2,266,326.36. This represents a 18.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Delek US Price Performance

Shares of Delek US stock traded up $1.10 during midday trading on Friday, reaching $44.79. The company had a trading volume of 1,146,645 shares, compared to its average volume of 1,428,662. Delek US Holdings, Inc. has a 1-year low of $17.56 and a 1-year high of $49.50. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of -49.22, a price-to-earnings-growth ratio of 0.37 and a beta of 0.63. The company has a current ratio of 0.76, a quick ratio of 0.49 and a debt-to-equity ratio of 10.51. The stock has a fifty day simple moving average of $43.21 and a 200 day simple moving average of $37.39.

Delek US (NYSE:DK - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.42) by $1.50. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. The firm had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.33 billion. During the same period last year, the firm earned ($2.32) earnings per share. The business's revenue for the quarter was up .4% on a year-over-year basis. As a group, equities research analysts forecast that Delek US Holdings, Inc. will post 3.99 earnings per share for the current year.

Delek US Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, May 1st were paid a $0.255 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.02 dividend on an annualized basis and a yield of 2.3%. Delek US's dividend payout ratio (DPR) is presently -112.09%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DK. Zacks Research raised shares of Delek US from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 29th. TD Cowen reduced their price objective on shares of Delek US from $60.00 to $44.00 and set a "hold" rating on the stock in a research note on Monday, April 27th. JPMorgan Chase & Co. reduced their price objective on shares of Delek US from $42.00 to $38.00 and set a "neutral" rating on the stock in a research note on Thursday, January 15th. Raymond James Financial raised their price objective on shares of Delek US from $47.00 to $54.00 and gave the company an "outperform" rating in a research note on Wednesday, March 25th. Finally, The Goldman Sachs Group raised shares of Delek US from a "neutral" rating to a "buy" rating and raised their price objective for the company from $43.00 to $55.00 in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $44.23.

Hedge Funds Weigh In On Delek US

Hedge funds and other institutional investors have recently made changes to their positions in the company. Brown Brothers Harriman & Co. bought a new position in shares of Delek US during the third quarter worth $27,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Delek US by 95.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 432 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Delek US by 173.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company's stock worth $29,000 after purchasing an additional 614 shares in the last quarter. Torren Management LLC bought a new position in shares of Delek US during the fourth quarter worth $40,000. Finally, Focus Partners Wealth bought a new position in shares of Delek US during the third quarter worth $44,000. 97.01% of the stock is owned by institutional investors.

Delek US Company Profile

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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