Intangible Valuation
Value, contrarian, coat tail rider, idiosyncratic research

Delek Is Undervalued: Looks Flexible And Strong Moving Forward

Delek US Holdings (NYSE:DK) is a North American refiner with logistical and retail assets. Its two refineries make up the bulk of its operating income.

Delek CEO Ezra Uzi Yemin uses the word "flexibility" to describe Delek's strategy. He noted in the most recent conference call, "we built our company not on different types of crudes, we built our company on flexibility" [1]. One part of this flexibility is the potential to acquire advantaged feedstocks for its refineries. With the other part being the ability to refine those cost advantaged crudes. While we look at this concept of flexibility, please note that I am repeating how Delek markets itself. Just check out the cover page of Delek's 2011...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details