Delek US (NYSE:DK) Shares Gap Up After Insider Buying Activity

Delek US Holdings, Inc. (NYSE:DK)’s stock price gapped up prior to trading on Thursday following insider buying activity. The stock had previously closed at $14.34, but opened at $14.67. Delek US shares last traded at $14.76, with a volume of 120,819 shares.

Specifically, CFO Mark Wayne Hobbs bought 2,800 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $13.70 per share, with a total value of $38,360.00. Following the transaction, the chief financial officer now directly owns 49,138 shares in the company, valued at approximately $673,190.60. This trade represents a 6.04 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Upgrades and Downgrades

DK has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on Delek US from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Wolfe Research raised Delek US from an “underperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Wells Fargo & Company lowered their target price on Delek US from $17.00 to $15.00 and set an “underweight” rating for the company in a research report on Wednesday, February 26th. Piper Sandler dropped their target price on shares of Delek US from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Finally, Mizuho dropped their target price on shares of Delek US from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Five equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, Delek US has an average rating of “Hold” and an average target price of $20.70.

Delek US Stock Performance

The firm has a market capitalization of $911.00 million, a P/E ratio of -3.00 and a beta of 1.15. The company’s 50 day moving average is $17.66 and its 200-day moving average is $18.14. The company has a quick ratio of 0.67, a current ratio of 1.04 and a debt-to-equity ratio of 3.18.

Delek US (NYSE:DK) last issued its earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.53) by ($1.01). The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.58 billion. Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The firm’s revenue was down 39.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.46) earnings per share. As a group, equities analysts anticipate that Delek US Holdings, Inc. will post -5.5 EPS for the current year.

Delek US Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, March 3rd were given a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 7.00%. The ex-dividend date of this dividend was Monday, March 3rd. Delek US’s payout ratio is currently -11.54%.

Institutional Trading of Delek US

Several hedge funds have recently bought and sold shares of the business. US Bancorp DE grew its holdings in Delek US by 691.5% during the third quarter. US Bancorp DE now owns 16,195 shares of the oil and gas company’s stock worth $304,000 after buying an additional 14,149 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Delek US by 17.2% during the third quarter. Victory Capital Management Inc. now owns 3,279,590 shares of the oil and gas company’s stock worth $61,492,000 after buying an additional 480,614 shares in the last quarter. MQS Management LLC bought a new stake in Delek US during the third quarter worth $201,000. Empowered Funds LLC grew its holdings in Delek US by 5.3% during the third quarter. Empowered Funds LLC now owns 319,587 shares of the oil and gas company’s stock worth $5,992,000 after buying an additional 16,214 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in Delek US by 279.4% during the third quarter. Quest Partners LLC now owns 22,163 shares of the oil and gas company’s stock worth $416,000 after buying an additional 16,321 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

About Delek US

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through Refining, Logistics, and Retail segments. The Refining segment processes crude oil and other feedstock for the manufacture of various grades of gasoline, diesel fuel, aviation fuel, asphalt, and other petroleum-based products that are distributed through owned and third-party product terminal.