Delek US Holdings (NYSE:DK) stock observed trading -65.79% off 52-week high price. On the other end, the stock has been noted 93.58% away from low price over the last 52-weeks. The stock disclosed a move of -38.35% away from 50 day moving average and -54.91% away from 200 day moving average. Moving closer, we can see that shares have been trading -10.16% off 20-day moving average. It has market cap of $1.33B and dividend yield of 8.22%.
On March 20, 2020, Delek US Holdings (NYSE:DK) reported that its Board of Directors (the Board) has unanimously resolved to adopt a limited duration shareholder rights agreement (the Rights Agreement) to protect shareholder interests and maximize value for all shareholders.
The Board resolved to adopt the Rights Agreement following the announcement by Icahn Enterprises L.P., CVR Energy and their affiliates on March 19, 2020 that they have purchased 14.86% of the outstanding shares of Delek and intend to discuss a potential transaction involving Delek and CVR Energy In connection with the adoption of the Rights Agreement, a dividend distribution of one Right on each outstanding share of Delek common stock will be payable to shareholders of record on March 30, 2020.
Uzi Yemin, Chairman, President and Chief Executive Officer of Delek stated, Our Board and management are always open to exploring options that deliver increased value to shareholders including potential business combinations. We appreciate CVR’s investment in our company and we look forward to having a discussion about potential opportunities. Given the fact that Delek’s current share price does not reflect the company’s intrinsic long-term value due to the extreme dislocation caused by the COVID-19 crisis and low commodity prices, we have no choice but to take action to prevent a creeping change of control without a premium and on terms that would not deliver sufficient value for all shareholders.
The USA based company Delek US Holdings moved with change of 30.79% to $15.08 with the total traded volume of 8498380 shares in recent session versus to an average volume of 2.12M. The stock was observed in the 5 days activity at 46.27%. The one month performance of stock was -45.95%. DK’s shares are at -55.82% for the quarter and driving a -59.08% return over the course of the past year and is now at -55.03% since this point in 2018. Right now the stock beta is 2.12. The average volatility for the week and month was at 24.80% and 15.85% respectively. There are 88.10M shares outstanding and 71.79M shares are floated in market.