Delek US (NYSE:DK) Sets New 52-Week High - Here's What Happened

Key Points

• Delek US shares reached a new 52-week high of $79.58, last trading at $78.88, up from the previous close of $78.14.
• Analysts have raised their price targets, with Raymond James and TD Cowen moving to $90; the stock carries a consensus “Moderate Buy” rating, although the average target of $65.45 is below its current price.
• Delek US reported strong quarterly results, earning $5.48 per share versus the $2.67 consensus and generating $4.09 billion in revenue, up 47.9% year over year. The company also maintains a quarterly dividend of $0.255 per share, yielding about 1.3%.

Delek US Holdings, Inc. (NYSE:DK - Get Free Report)'s share price reached a new 52-week high on Wednesday . The company traded as high as $79.58 and last traded at $78.88, with a volume of 383676 shares. The stock had previously closed at $78.14.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Raymond James Financial boosted their price target on Delek US from $72.00 to $90.00 and gave the company an "outperform" rating in a report on Monday. Morgan Stanley increased their price objective on Delek US from $45.00 to $81.00 and gave the stock an "equal weight" rating in a report on Monday. Zacks Research raised Delek US from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 26th. Wall Street Zen raised Delek US from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 9th. Finally, TD Cowen raised their price target on Delek US from $76.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $65.45.

Delek US Stock Up 1.0%

The company has a market capitalization of $4.83 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 0.49 and a beta of 0.59. The company has a 50-day moving average of $66.67 and a two-hundred day moving average of $52.20. 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 announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $5.48 EPS for the quarter, beating the consensus estimate of $2.67 by $2.81. Delek US had a return on equity of 109.03% and a net margin of 1.86%.The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same quarter last year, the firm posted ($0.56) earnings per share. The company's revenue for the quarter was up 47.9% on a year-over-year basis. On average, research analysts predict that Delek US Holdings, Inc. will post 11.93 EPS for the current year.

Delek US Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 3rd. Delek US's dividend payout ratio (DPR) is 28.65%.

Insider Activity

In related news, CEO Avigal Soreq sold 80,000 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $66.51, for a total transaction of $5,320,800.00. Following the completion of the sale, the chief executive officer owned 231,486 shares of the company's stock, valued at $15,396,133.86. This trade represents a 25.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky Sutil sold 6,397 shares of the business's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $71.50, for a total transaction of $457,385.50. Following the completion of the transaction, the director owned 26,407 shares of the company's stock, valued at approximately $1,888,100.50. The trade was a 19.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 168,377 shares of company stock valued at $11,339,985. 3.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Tidal Investments LLC bought a new position in shares of Delek US during the 2nd quarter valued at $334,000. WINTON GROUP Ltd grew its holdings in shares of Delek US by 445.3% in the second quarter. WINTON GROUP Ltd now owns 57,800 shares of the oil and gas company's stock worth $2,937,000 after acquiring an additional 47,200 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Delek US during the second quarter valued at $61,000. Squarepoint Ops LLC increased its position in Delek US by 110.9% during the second quarter. Squarepoint Ops LLC now owns 176,773 shares of the oil and gas company's stock valued at $8,982,000 after acquiring an additional 92,957 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in Delek US by 30.7% in the second quarter. Allworth Financial LP now owns 600 shares of the oil and gas company's stock valued at $30,000 after acquiring an additional 141 shares during the period. Hedge funds and other institutional investors own 97.01% of the company's stock.

About Delek US

Delek US Holdings, Inc NYSE: DK is a downstream energy company engaged primarily in petroleum refining, wholesale fuel marketing and logistics. The company produces transportation fuels and other refined petroleum products, including gasoline, diesel, jet fuel and asphalt.

Delek US operates refineries in the southern United States, including facilities in Texas, Arkansas and Louisiana. Its refining operations are supported by crude oil gathering, transportation, storage and other logistics activities conducted through Delek Logistics Partners, a publicly traded master limited partnership that is managed and partially owned by Delek US.

Founded in 2001 and headquartered in Brentwood, Tennessee, Delek US serves regional markets across the central and southeastern United States.

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