Delek US Holdings looks cheap against its earnings. The integrated downstream energy company trades at 20x trailing earnings but 9x next year's, while oil and gas producers usually get 14x. Applying 14x to next year's estimated $8.26 a share, give or take 12%, gives fair value of $101.73-129.47, with the stock 27% below the bottom of that range. The read leans on forecasts, with forward earnings 125% above trailing, and is based on valuation levels only, with no fundamental work. x.com