Delek US (NYSE:DK) Reaches New 12-Month High – Time to Buy?

Shares of Delek US Holdings, Inc. (NYSE:DK) hit a new 52-week high on Monday . The stock traded as high as $57.57 and last traded at $57.3990, with a volume of 1053131 shares trading hands. The stock had previously closed at $55.51.

Wall Street Analyst Weigh In

A number of research firms recently commented on DK. Wells Fargo & Company lifted their price objective on Delek US from $54.00 to $59.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. UBS Group raised their price target on shares of Delek US from $42.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. Zacks Research upgraded shares of Delek US from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 26th. The Goldman Sachs Group upgraded shares of Delek US from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $43.00 to $55.00 in a research report on Friday, April 10th. Finally, Wall Street Zen upgraded shares of Delek US from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $46.08.

Delek US Price Performance

The stock has a market capitalization of $3.56 billion, a P/E ratio of -63.54, a PEG ratio of 0.34 and a beta of 0.58. The company has a debt-to-equity ratio of 10.51, a quick ratio of 0.49 and a current ratio of 0.76. The business has a fifty day simple moving average of $46.86 and a 200-day simple moving average of $40.12.

Delek US (NYSE:DK) last released its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($1.42) by $1.50. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.33 billion. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. Delek US’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.32) EPS. Sell-side analysts expect that Delek US Holdings, Inc. will post 5.6 earnings per share for the current fiscal year.

Delek US Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, May 1st were issued a dividend of $0.255 per share. The ex-dividend date was Friday, May 1st. This represents a $1.02 annualized dividend and a dividend yield of 1.8%. Delek US’s dividend payout ratio is currently -112.09%.

Insider Activity at Delek US

In related news, Director William J. Finnerty sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $51.50, for a total transaction of $257,500.00. Following the transaction, the director directly owned 34,805 shares of the company’s stock, valued at approximately $1,792,457.50. This represents a 12.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky Sutil sold 3,061 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $46.00, for a total value of $140,806.00. Following the completion of the transaction, the director owned 31,239 shares in the company, valued at approximately $1,436,994. The trade was a 8.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 39,270 shares of company stock worth $1,828,718. 3.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Delek US

A number of institutional investors have recently modified their holdings of the company. Wedge Capital Management L L P NC grew its position in Delek US by 4.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 23,493 shares of the oil and gas company’s stock valued at $1,194,000 after purchasing an additional 1,005 shares during the period. NewEdge Advisors LLC acquired a new position in Delek US during the first quarter worth $290,000. Converium Capital Inc. acquired a new position in Delek US during the first quarter worth $9,855,000. Bank of America Corp DE lifted its stake in shares of Delek US by 118.0% in the first quarter. Bank of America Corp DE now owns 846,204 shares of the oil and gas company’s stock valued at $38,138,000 after buying an additional 458,004 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of Delek US by 24.6% in the first quarter. California State Teachers Retirement System now owns 71,346 shares of the oil and gas company’s stock valued at $3,216,000 after buying an additional 14,068 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

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.