Delek US (NYSE:DK) Reaches New 1-Year High – Here’s Why

Delek US Holdings, Inc. (NYSE:DK) shares hit a new 52-week high on Thursday . The stock traded as high as $77.80 and last traded at $75.4370, with a volume of 126678 shares trading hands. The stock had previously closed at $75.28.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DK. Raymond James Financial raised their price objective on Delek US from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. TD Cowen upped their target price on Delek US from $58.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. The Goldman Sachs Group increased their target price on Delek US from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Weiss Ratings raised Delek US from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Finally, Wells Fargo & Company lifted their price target on Delek US from $59.00 to $82.00 and gave the company an “overweight” rating in a report on Tuesday, September 1st. One equities research 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 data from MarketBeat, Delek US has an average rating of “Moderate Buy” and an average target price of $59.09.

Delek US Stock Up 0.8%

The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 1.50 and a beta of 0.59. The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53. The firm has a 50 day moving average price of $64.81 and a two-hundred day moving average price of $51.02.

Delek US (NYSE:DK) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $2.81. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $3.44 billion. Delek US had a return on equity of 109.03% and a net margin of 1.86%.The company’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.56) EPS. On average, equities analysts expect that Delek US Holdings, Inc. will post 11.05 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, August 3rd. Delek US’s payout ratio is 28.65%.

Insider Transactions at Delek US

In other Delek US news, Director Gary Sullivan, Jr. sold 27,688 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $69.01, for a total transaction of $1,910,748.88. Following the transaction, the director directly owned 32,004 shares in the company, valued at $2,208,596.04. This represents a 46.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William Finnerty sold 1,457 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $64.70, for a total transaction of $94,267.90. Following the transaction, the director directly owned 33,348 shares of the company’s stock, valued at approximately $2,157,615.60. This represents a 4.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,042 shares of company stock valued at $10,705,777 over the last ninety days. 3.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Delek US

Hedge funds have recently bought and sold shares of the company. Allworth Financial LP acquired a new stake in Delek US during the second quarter valued at approximately $30,000. Brown Brothers Harriman & Co. bought a new stake in shares of Delek US in the 3rd quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd raised its position 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 valued at $26,000 after acquiring an additional 432 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Delek US by 173.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 614 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Delek US during the second quarter worth $61,000. 97.01% of the stock is currently 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.