Delek US (NYSE:DK) Shares Gap Down – Should You Sell?

Delek US Holdings, Inc. (NYSE:DK)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $30.15, but opened at $29.17. Delek US shares last traded at $29.2320, with a volume of 179,454 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on DK shares. Cowen raised Delek US from a “sell” rating to a “hold” rating in a research report on Friday, September 19th. Wells Fargo & Company upped their price target on Delek US from $43.00 to $53.00 and gave the company an “overweight” rating in a report on Monday, November 10th. TD Cowen raised their price objective on shares of Delek US from $28.00 to $36.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. upped their target price on shares of Delek US from $19.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Finally, Piper Sandler dropped their target price on shares of Delek US from $47.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Delek US has a consensus rating of “Hold” and a consensus price target of $39.00.

Delek US Stock Performance

The company has a quick ratio of 0.58, a current ratio of 0.86 and a debt-to-equity ratio of 7.12. The stock has a fifty day moving average price of $34.73 and a 200-day moving average price of $30.74. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -3.59 and a beta of 0.81.

Delek US (NYSE:DK) last announced its quarterly earnings data on Friday, November 7th. The oil and gas company reported $7.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $6.85. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.76 billion. Delek US had a negative return on equity of 56.40% and a negative net margin of 4.83%.The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.45) EPS. On average, analysts expect that Delek US Holdings, Inc. will post -5.5 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 10th were issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Monday, November 10th. Delek US’s dividend payout ratio (DPR) is currently -12.50%.

Insider Activity at Delek US

In related news, EVP Joseph Israel sold 4,380 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $40.94, for a total value of $179,317.20. Following the completion of the transaction, the executive vice president directly owned 55,761 shares of the company’s stock, valued at $2,282,855.34. This trade represents a 7.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert G. Wright sold 2,303 shares of Delek US stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $40.43, for a total value of $93,110.29. Following the transaction, the executive vice president directly owned 38,966 shares of the company’s stock, valued at approximately $1,575,395.38. This represents a 5.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 59,354 shares of company stock worth $2,446,658 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Delek US

Institutional investors and hedge funds have recently made changes to their positions in the business. Ion Asset Management Ltd. grew its position in shares of Delek US by 1.8% in the second 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 purchasing an additional 67,490 shares during the last quarter. Barclays PLC lifted its stake in Delek US by 29.4% in the 3rd quarter. Barclays PLC now owns 1,873,578 shares of the oil and gas company’s stock valued at $60,460,000 after buying an additional 425,896 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Delek US by 113.5% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,601,777 shares of the oil and gas company’s stock valued at $33,926,000 after buying an additional 851,458 shares during the last quarter. Allianz Asset Management GmbH increased its position in Delek US by 40.2% during the third quarter. Allianz Asset Management GmbH now owns 1,474,083 shares of the oil and gas company’s stock worth $47,569,000 after buying an additional 423,017 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Delek US by 6,300.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,306,269 shares of the oil and gas company’s stock worth $42,153,000 after acquiring an additional 1,285,861 shares during the last quarter. 97.01% of the stock is currently owned by hedge funds and other 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.