Key Points
- Insider sale: CEO Avigal Soreq sold 50,000 shares at an average of $41.08 on March 3 for $2.054M, trimming her stake by 16.57% to 251,678 shares (≈$10.34M).
- Mixed fundamentals: Delek US reported quarterly EPS of $0.44 (beating estimates) but has a negative net margin and ROE, a negative P/E, a market cap of about $2.65B, and declared a $0.255 quarterly dividend (2.3% yield) despite a -291% payout ratio.
- Market and analyst view: Shares were down about 1.4% to $44.17, the consensus rating is "Hold" with a $39.46 target, and institutional investors hold roughly 97% of the stock.
Delek US Holdings, Inc. (NYSE:DK - Get Free Report) CEO Avigal Soreq sold 50,000 shares of Delek US stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $41.08, for a total transaction of $2,054,000.00. Following the completion of the transaction, the chief executive officer owned 251,678 shares in the company, valued at approximately $10,338,932.24. This trade represents a 16.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Delek US Stock Down 1.4%
Shares of Delek US stock traded down $0.62 during midday trading on Friday, reaching $44.17. 232,065 shares of the company's stock traded hands, compared to its average volume of 1,583,727. The company has a market cap of $2.65 billion, a price-to-earnings ratio of -126.20 and a beta of 0.75. Delek US Holdings, Inc. has a 52 week low of $11.02 and a 52 week high of $45.74. The company has a debt-to-equity ratio of 5.89, a quick ratio of 0.58 and a current ratio of 0.82. The company's 50 day simple moving average is $32.13 and its 200 day simple moving average is $33.17.
Delek US (NYSE:DK - Get Free Report) last released its quarterly earnings results on Friday, February 27th. The oil and gas company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.19) by $0.63. The company had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.55 billion. Delek US had a negative net margin of 0.21% and a negative return on equity of 13.55%. The business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($2.54) earnings per share. Equities analysts expect that Delek US Holdings, Inc. will post -5.5 earnings per share for the current fiscal year.
Delek US Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 9th. Shareholders of record on Monday, March 2nd will be given a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, March 2nd. Delek US's payout ratio is currently -291.43%.
Institutional Investors Weigh In On Delek US
Several large investors have recently bought and sold shares of DK. Allianz Asset Management GmbH raised its stake in Delek US by 40.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,474,083 shares of the oil and gas company's stock worth $47,569,000 after buying an additional 423,017 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Delek US during the 3rd quarter worth approximately $1,338,000. Federated Hermes Inc. acquired a new stake in Delek US during the 3rd quarter worth approximately $5,416,000. Quantbot Technologies LP bought a new stake in Delek US during the second quarter valued at $1,089,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Delek US in the 2nd quarter valued at about $454,000. Institutional investors own 97.01% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have commented on DK. Citigroup cut their price target on shares of Delek US from $37.00 to $33.00 and set a "neutral" rating for the company in a research note on Monday, January 26th. Piper Sandler cut their target price on Delek US from $47.00 to $40.00 and set a "neutral" rating for the company in a research report on Thursday, January 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Delek US in a research report on Wednesday, January 21st. Scotiabank set a $34.00 price objective on Delek US in a research note on Friday, January 16th. Finally, Mizuho boosted their target price on shares of Delek US from $45.00 to $51.00 and gave the company an "outperform" rating in a research note on Friday, December 12th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $39.46.
Get Our Latest Stock Report on Delek US
About Delek US
(
Get Free Report)
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.
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