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

Delek US Holdings, Inc. (NYSE:DK) shares gapped down before the market opened on Monday . The stock had previously closed at $63.20, but opened at $60.43. Delek US shares last traded at $62.84, with a volume of 142,390 shares trading hands.

Wall Street Analysts Forecast Growth

DK has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Delek US from $57.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Morgan Stanley boosted their price target on Delek US from $41.00 to $45.00 and gave the company an “equal weight” rating in a report on Friday, June 12th. UBS Group upped their price target on Delek US from $42.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, April 10th. Wells Fargo & Company lifted their price objective on shares of Delek US from $54.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Finally, Wall Street Zen raised shares of Delek US from a “buy” rating to a “strong-buy” rating in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $51.92.

Delek US Trading Down 2.3%

The firm has a market cap of $3.86 billion, a P/E ratio of -69.18, a P/E/G ratio of 1.70 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 firm has a fifty day moving average of $51.03 and a 200-day moving average of $42.94.

Delek US (NYSE:DK) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 earnings per share (EPS) 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 the consensus estimate of $2.33 billion. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.32) earnings per share. Equities research analysts forecast that Delek US Holdings, Inc. will post 8.3 earnings per share for the current year.

Delek US Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, August 3rd. Delek US’s dividend payout ratio is presently -112.09%.

Insider Activity

In related news, Director William J. Finnerty sold 5,000 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $51.50, for a total value of $257,500.00. Following the completion of the transaction, the director 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 can be accessed through 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 value of $504,590.40. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 39,270 shares of company stock valued at $1,828,718 in the last ninety days. 3.56% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. ION Fund Management Ltd purchased a new stake in shares of Delek US in the 4th quarter valued at approximately $52,427,000. Norges Bank acquired a new stake in Delek US during the 4th quarter valued at $48,374,000. Arrowstreet Capital Limited Partnership raised its stake in Delek US by 6,300.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,306,269 shares of the oil and gas company’s stock valued at $42,153,000 after purchasing an additional 1,285,861 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Delek US by 1,516.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 996,059 shares of the oil and gas company’s stock valued at $29,544,000 after purchasing an additional 934,448 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Delek US by 1,173.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 954,900 shares of the oil and gas company’s stock valued at $28,322,000 after purchasing an additional 879,900 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

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.