Delek US (NYSE:DK) Shares Gap Up – Still a Buy?

Delek US Holdings, Inc. (NYSE:DK)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $74.34, but opened at $76.98. Delek US shares last traded at $72.5760, with a volume of 247,646 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Weiss Ratings raised Delek US from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Morgan Stanley increased their target price on shares of Delek US from $41.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, June 12th. Wall Street Zen upgraded shares of Delek US from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 9th. TD Cowen upped their price target on shares of Delek US from $58.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, Mizuho increased their price objective on shares of Delek US from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.09.

Delek US Trading Down 2.2%

The stock has a market cap of $4.39 billion, a P/E ratio of 20.15, a price-to-earnings-growth ratio of 1.46 and a beta of 0.59. The stock’s 50-day moving average is $62.47 and its two-hundred day moving average is $49.64. The company has a debt-to-equity ratio of 7.53, a current ratio of 0.76 and a quick ratio of 0.47.

Delek US (NYSE:DK) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 EPS for the quarter, topping the consensus estimate of $2.67 by $2.81. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter in the previous year, the company earned ($0.56) EPS. The business’s quarterly revenue was up 47.9% compared to the same quarter last year. Equities research analysts anticipate that Delek US Holdings, Inc. will post 11.05 EPS for the current year.

Delek US Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, August 3rd. Delek US’s payout ratio is currently 28.65%.

Insider Activity at Delek US

In other 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 sale, the director directly owned 34,805 shares of the company’s stock, valued at $1,792,457.50. This represents a 12.56% decrease in their position. 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, EVP Mark Wayne Hobbs sold 20,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $64.59, for a total value 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 146,145 shares of company stock valued at $9,699,317 in the last 90 days. 3.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Delek US

A number of hedge funds have recently bought and sold shares of DK. Amundi purchased a new position in shares of Delek US in the 2nd quarter worth $228,000. California State Teachers Retirement System raised its position in shares of Delek US by 4,681.3% during the 2nd quarter. California State Teachers Retirement System now owns 3,411,231 shares of the oil and gas company’s stock valued at $173,325,000 after buying an additional 3,339,885 shares in the last quarter. Nykredit A S bought a new position in shares of Delek US in the 2nd quarter valued at about $191,000. Lone Peak Global Investors LLC lifted its holdings in shares of Delek US by 6.0% in the 2nd quarter. Lone Peak Global Investors LLC now owns 246,497 shares of the oil and gas company’s stock valued at $12,525,000 after acquiring an additional 13,861 shares during the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in Delek US in the second quarter worth about $10,208,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

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.