Delek US (NYSE:DK) Hits New 12-Month High Following Analyst Upgrade

Delek US Holdings, Inc. (NYSE:DK) shares reached a new 52-week high during mid-day trading on Monday after The Goldman Sachs Group raised their price target on the stock from $58.00 to $73.00. The Goldman Sachs Group currently has a buy rating on the stock. Delek US traded as high as $64.10 and last traded at $63.3170, with a volume of 108576 shares. The stock had previously closed at $63.25.

Other equities research analysts have also issued reports about the company. Zacks Research upgraded Delek US from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. Wells Fargo & Company increased their price target on Delek US from $54.00 to $59.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Wall Street Zen raised shares of Delek US from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 18th. TD Cowen upgraded shares of Delek US from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $50.00 to $58.00 in a research note on Monday, June 29th. Finally, Morgan Stanley upped their price objective 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. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have given 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 price target of $50.54.

Insider Activity

In other Delek US news, Director William J. Finnerty sold 5,000 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $51.50, for a total value of $257,500.00. Following the sale, the director directly owned 34,805 shares in the company, valued at $1,792,457.50. This trade represents a 12.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Robert G. Wright sold 10,720 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $47.07, for a total transaction of $504,590.40. Following the transaction, the executive vice president owned 48,148 shares in the company, valued at approximately $2,266,326.36. The trade was a 18.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 39,270 shares of company stock worth $1,828,718. Corporate insiders own 3.56% of the company’s stock.

Institutional Investors Weigh In On Delek US

A number of institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of Delek US by 95.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 432 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in Delek US in the 3rd quarter valued at $27,000. EverSource Wealth Advisors LLC increased its holdings in Delek US by 173.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 614 shares during the period. Torren Management LLC acquired a new position in shares of Delek US in the 4th quarter valued at $40,000. Finally, Focus Partners Wealth acquired a new position in shares of Delek US in the 3rd quarter valued at $44,000. 97.01% of the stock is owned by institutional investors and hedge funds.

Delek US Stock Up 0.0%

The company has a current ratio of 0.76, a quick ratio of 0.49 and a debt-to-equity ratio of 10.51. The business’s fifty day moving average price is $48.30 and its 200 day moving average price is $41.21. The company has a market capitalization of $3.88 billion, a P/E ratio of -69.48, a P/E/G ratio of 0.34 and a beta of 0.58.

Delek US (NYSE:DK) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $1.50. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the business posted ($2.32) earnings per share. The company’s quarterly revenue was up .4% compared to the same quarter last year. As a group, equities research analysts predict that Delek US Holdings, Inc. will post 6.34 earnings per share for the current fiscal year.

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.