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

Delek US Holdings, Inc. (NYSE:DK) shares gapped up before the market opened 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 trading hands.

Specifically, CFO Mark Wayne Hobbs acquired 2,800 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $13.70 per share, for a total transaction of $38,360.00. Following the purchase, the chief financial officer now directly owns 49,138 shares of the company’s stock, valued at $673,190.60. This trade represents a 6.04 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wolfe Research raised shares of Delek US from an “underperform” rating to a “peer perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. upped their price target on shares of Delek US from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Wells Fargo & Company cut their price target on shares of Delek US from $17.00 to $15.00 and set an “underweight” rating on the stock in a report on Wednesday, February 26th. Piper Sandler decreased their price objective on Delek US from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Finally, Mizuho lowered their target price on Delek US from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Five analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Delek US presently has a consensus rating of “Hold” and a consensus price target of $20.70.

Delek US Price Performance

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

Delek US (NYSE:DK) last posted its earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) earnings per share 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 analysts’ expectations of $2.58 billion. During the same period last year, the business posted ($1.46) earnings per share. The company’s revenue for the quarter was down 39.8% compared to the same quarter last year. On average, equities research analysts predict that Delek US Holdings, Inc. will post -5.5 EPS for the current year.

Delek US Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, March 3rd were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 7.06%. The ex-dividend date was Monday, March 3rd. Delek US’s payout ratio is currently -11.54%.

Hedge Funds Weigh In On Delek US

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DK. US Bancorp DE raised its stake in shares of Delek US by 691.5% in the third quarter. US Bancorp DE now owns 16,195 shares of the oil and gas company’s stock worth $304,000 after purchasing an additional 14,149 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Delek US by 17.2% in 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 acquiring an additional 480,614 shares during the period. MQS Management LLC purchased a new stake in shares of Delek US during the 3rd quarter worth about $201,000. Empowered Funds LLC grew its position in shares of Delek US by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 319,587 shares of the oil and gas company’s stock valued at $5,992,000 after acquiring an additional 16,214 shares during the period. Finally, Quest Partners LLC increased its stake in shares of Delek US by 279.4% in the 3rd quarter. Quest Partners LLC now owns 22,163 shares of the oil and gas company’s stock valued at $416,000 after purchasing an additional 16,321 shares in the last quarter. Hedge funds and other institutional investors 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.