Key Points
- Director Gary Jr. Sullivan sold 27,688 Delek US shares at an average price of $69.01, generating approximately $1.91 million. His remaining ownership fell 46.38% to 32,004 shares.
- Delek US reported strong quarterly results, with EPS of $5.48 versus the $2.67 consensus and revenue of $4.09 billion, up 47.9% year over year.
- The company maintains a quarterly dividend of $0.255, or $1.02 annualized, yielding about 1.4%. Analysts’ average rating is “Hold,” with an average price target of $53.15, below the reported share price of $70.78.
Delek US Holdings, Inc. (NYSE:DK - Get Free Report) Director Gary Jr. Sullivan sold 27,688 shares of the stock in a transaction dated Monday, August 24th. The stock was 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 of the company's stock, valued at $2,208,596.04. This represents a 46.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Delek US Price Performance
Shares of DK opened at $70.78 on Thursday. 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 stock's 50 day moving average is $59.52 and its two-hundred day moving average is $48.31. Delek US Holdings, Inc. has a twelve month low of $25.66 and a twelve month high of $72.00. The firm has a market capitalization of $4.33 billion, a PE ratio of 19.88, a P/E/G ratio of 1.47 and a beta of 0.57.
Delek US (NYSE:DK - Get Free Report) 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. Delek US had a return on equity of 109.03% and a net margin of 1.86%.The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the prior year, the business posted ($0.56) EPS. The company's revenue for the quarter was up 47.9% on a year-over-year basis. Research analysts anticipate that Delek US Holdings, Inc. will post 10.1 earnings per share for the current year.
Delek US Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were issued a $0.255 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.02 dividend on an annualized basis and a yield of 1.4%. Delek US's dividend payout ratio (DPR) is 28.65%.
Hedge Funds Weigh In On Delek US
Several hedge funds have recently added to or reduced their stakes in DK. Vanguard Group Inc. lifted its holdings in shares of Delek US by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company's stock valued at $187,773,000 after purchasing an additional 38,577 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Delek US during the 2nd quarter worth approximately $275,233,000. Ion Asset Management Ltd. raised its position in shares of Delek US by 1.8% during the 2nd quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company's stock worth $79,296,000 after purchasing an additional 67,490 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Delek US by 4,681.3% during the 2nd quarter. California State Teachers Retirement System now owns 3,411,231 shares of the oil and gas company's stock worth $173,325,000 after purchasing an additional 3,339,885 shares during the last quarter. Finally, State Street Corp lifted its stake in Delek US by 3.4% in the 4th quarter. State Street Corp now owns 2,639,447 shares of the oil and gas company's stock valued at $78,286,000 after buying an additional 87,846 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on DK shares. Mizuho upped their price target on shares of Delek US from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. boosted their price objective on shares of Delek US from $57.00 to $62.00 and gave the stock a "neutral" rating in a report on Tuesday, July 14th. Raymond James Financial upped their target price on shares of Delek US from $60.00 to $70.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Morgan Stanley lifted their price target on shares of Delek US from $41.00 to $45.00 and gave the company an "equal weight" rating in a research report on Friday, June 12th. Finally, Zacks Research upgraded Delek US from a "hold" rating to a "strong-buy" rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $53.15.
View Our Latest Analysis on Delek US
Delek US Company Profile
(
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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