Delek US (NYSE:DK) Shares Down 6.6% – Here’s What Happened

Delek US Holdings, Inc. (NYSE:DK)’s share price fell 6.6% during trading on Monday . The company traded as low as $67.09 and last traded at $66.7560. Approximately 399,370 shares were traded during mid-day trading, a decline of 71% from the average session volume of 1,397,351 shares. The stock had previously closed at $71.47.

Analyst Ratings Changes

Several analysts recently commented on the stock. Zacks Research upgraded shares of Delek US from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 26th. Weiss Ratings raised shares of Delek US from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. TD Cowen lifted their price objective on shares of Delek US from $58.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Raymond James Financial upped their target price on shares of Delek US from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, Citigroup reiterated a “neutral” rating on shares of Delek US in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Delek US presently has a consensus rating of “Hold” and a consensus price target of $53.15.

Delek US Trading Down 0.4%

The company has a quick ratio of 0.47, a current ratio of 0.76 and a debt-to-equity ratio of 7.53. The company’s fifty day moving average price is $58.95 and its two-hundred day moving average price is $48.05. The firm has a market cap of $4.15 billion, a PE ratio of 19.05, a P/E/G ratio of 1.48 and a beta of 0.57.

Delek US (NYSE:DK) 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, topping the consensus estimate of $2.67 by $2.81. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $3.44 billion. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The firm’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.56) earnings per share. As a group, sell-side analysts forecast that Delek US Holdings, Inc. will post 10.1 earnings per share for the current fiscal year.

Delek US Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were given a dividend of $0.255 per share. The ex-dividend date was Monday, August 3rd. This represents a $1.02 annualized dividend and a yield of 1.5%. Delek US’s payout ratio is presently 28.65%.

Insiders Place Their Bets

In related news, EVP Mark Wayne Hobbs sold 20,000 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $64.59, for a total transaction of $1,291,800.00. Following the transaction, the executive vice president owned 104,326 shares of the company’s stock, valued at $6,738,416.34. This represents a 16.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J. Finnerty sold 1,457 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $64.70, for a total value of $94,267.90. Following the completion of the transaction, the director owned 33,348 shares of the company’s stock, valued at $2,157,615.60. The trade was a 4.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 127,086 shares of company stock worth $8,183,753. Corporate insiders own 3.56% of the company’s stock.

Hedge Funds Weigh In On Delek US

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Delek US by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company’s stock valued at $187,773,000 after purchasing an additional 38,577 shares during the period. BlackRock Inc. purchased a new stake in Delek US during the second quarter worth about $275,233,000. Ion Asset Management Ltd. grew its position in Delek US by 1.8% during the second quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company’s stock worth $79,296,000 after buying an additional 67,490 shares during the period. California State Teachers Retirement System grew its position in Delek US by 4,681.3% during the second quarter. California State Teachers Retirement System now owns 3,411,231 shares of the oil and gas company’s stock worth $173,325,000 after buying an additional 3,339,885 shares during the period. Finally, State Street Corp increased its holdings in Delek US by 3.4% in the fourth 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 in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

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.