Delek US Holdings, Inc. (NYSE:DK – Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $79.58 and last traded at $78.88, with a volume of 383676 shares trading hands. The stock had previously closed at $78.14.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on DK. TD Cowen raised their price objective on shares of Delek US from $76.00 to $90.00 and gave the stock a “buy” rating in a report on Monday. Weiss Ratings raised shares of Delek US from a “sell (d+)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Citigroup reiterated a “neutral” rating on shares of Delek US in a research report on Thursday, August 6th. 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. Finally, The Goldman Sachs Group lifted their price target on shares of Delek US from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.45.
Get Our Latest Stock Analysis on DK
Delek US Trading Up 1.0%
Delek US (NYSE:DK – Get Free Report) last released its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $2.81. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter last year, the business earned ($0.56) EPS. The firm’s revenue was up 47.9% compared to the same quarter last year. On average, research analysts predict that Delek US Holdings, Inc. will post 11.93 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 paid a dividend of $0.255 per share. The ex-dividend date was Monday, August 3rd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.3%. Delek US’s payout ratio is 28.65%.
Insider Buying and Selling
In other Delek US news, Director Vicky Sutil sold 6,397 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $71.50, for a total value of $457,385.50. Following the completion of the sale, the director owned 26,407 shares in the company, valued at approximately $1,888,100.50. This represents a 19.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary Sullivan, Jr. sold 27,688 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $69.01, for a total value of $1,910,748.88. Following the sale, the director directly owned 32,004 shares in the company, valued at approximately $2,208,596.04. This represents a 46.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 168,377 shares of company stock worth $11,339,985 in the last three months. 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 stock. BlackRock Inc. purchased a new position in Delek US during the 2nd quarter valued at approximately $275,233,000. Norges Bank purchased a new stake in shares of Delek US during the 4th quarter worth approximately $48,374,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Delek US by 1,173.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 954,900 shares of the oil and gas company’s stock worth $28,322,000 after acquiring an additional 879,900 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Delek US during the 2nd quarter valued at approximately $37,664,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Delek US during the 2nd quarter valued at approximately $22,987,000. 97.01% of the stock is owned by hedge funds and other institutional investors.
About Delek US
Delek US Holdings, Inc (NYSE: DK) is a downstream energy company engaged primarily in petroleum refining, wholesale fuel marketing and logistics. The company produces transportation fuels and other refined petroleum products, including gasoline, diesel, jet fuel and asphalt.
Delek US operates refineries in the southern United States, including facilities in Texas, Arkansas and Louisiana. Its refining operations are supported by crude oil gathering, transportation, storage and other logistics activities conducted through Delek Logistics Partners, a publicly traded master limited partnership that is managed and partially owned by Delek US.
Founded in 2001 and headquartered in Brentwood, Tennessee, Delek US serves regional markets across the central and southeastern United States.
Read More
- Five stocks we like better than Delek US
- Movado’s Turnaround Gains Momentum
- Qualcomm’s Discount Could Vanish If Its AI Bet Pays Off
- Micron’s AI Memory Boom Could Send Shares 100% Higher
- Apple Stock Surges After Its Biggest Product Launch in Years—Can It Last?
Receive News & Ratings for Delek US Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delek US and related companies with MarketBeat.com's FREE daily email newsletter.
