Delek US Energy hits $81.50 all-time high on earnings, refinery exemptions

Delek US Energy Inc. reached an all-time high of $81.50 on September 17, 2026, marking a 1% gain above its 52-week peak of $80.15. The stock’s year-to-date return stood at 171%, a 152.65% increase over the prior year, though a PEG ratio of 0.16 suggested it appeared slightly overvalued by InvestingPro’s metrics. The company’s second-quarter 2026 earnings exceeded projections, with adjusted earnings per share at $5.48 (versus analysts’ estimates of $2.82) and revenue of $4.09 billion (versus $3.39 billion expected). Goldman Sachs noted that Delek secured 100% exemptions for its four refineries, a move that could enhance cash flow and represent over 20% of its market capitalization. Par Pacific Holdings also benefited from similar exemptions at its refineries, further supporting liquidity optimization amid refining sector volatility. BTIG warned that oil refining stocks, including those in the S&P 500 Oil & Gas Refining and Marketing Index, might face a correction after a 30-year high in performance, which had surpassed its historical moving average. The broader refining sector’s rally had been driven by strong demand and refining margins, but regulatory and operational risks remained a concern for investors.