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

Delek US Holdings, Inc. (NYSE:DK) shares gapped up prior to trading on Thursday after an insider bought additional shares in the company. 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 trading hands.

Specifically, CFO Mark Wayne Hobbs bought 2,800 shares of the stock in a transaction on Tuesday, March 11th. The stock was acquired at an average cost of $13.70 per share, for a total transaction of $38,360.00. Following the acquisition, the chief financial officer now owns 49,138 shares of the company’s stock, valued at $673,190.60. This represents a 6.04 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

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

Delek US Trading Up 0.7 %

The firm has a market capitalization of $902.88 million, a PE ratio of -2.97 and a beta of 1.15. The business has a 50 day moving average price of $17.74 and a 200-day moving average price of $18.17. The company has a current ratio of 1.04, a quick ratio of 0.67 and a debt-to-equity ratio of 3.18.

Delek US (NYSE:DK) last issued its quarterly earnings data on Tuesday, February 25th. The oil and gas company reported ($2.54) EPS for the quarter, missing analysts’ consensus estimates of ($1.53) by ($1.01). Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the company posted ($1.46) earnings per share. Delek US’s revenue was down 39.8% on a year-over-year basis. Analysts expect that Delek US Holdings, Inc. will post -5.5 earnings per share for the current year.

Delek US Announces Dividend

The business 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. The ex-dividend date was Monday, March 3rd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 7.06%. Delek US’s dividend payout ratio (DPR) is -11.54%.

Institutional Investors Weigh In On Delek US

A number of institutional investors have recently modified their holdings of DK. Rubric Capital Management LP bought a new stake in shares of Delek US during the third quarter worth approximately $37,500,000. Philosophy Capital Management LLC bought a new stake in shares of Delek US during the 3rd quarter worth about $21,471,000. Millennium Management LLC boosted its holdings in shares of Delek US by 1,199.2% during the fourth quarter. Millennium Management LLC now owns 870,257 shares of the oil and gas company’s stock worth $16,100,000 after acquiring an additional 803,274 shares during the period. Deprince Race & Zollo Inc. acquired a new stake in Delek US during the 4th quarter worth approximately $13,680,000. Finally, FMR LLC boosted its stake in Delek US by 47.3% in the 3rd quarter. FMR LLC now owns 1,707,773 shares of the oil and gas company’s stock valued at $32,021,000 after purchasing an additional 548,777 shares during the period. 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.