Ion Asset Management Ltd. Raises Holdings in Delek US Holdings, Inc. (NYSE:DK)

Ion Asset Management Ltd. lifted its position in shares of Delek US Holdings, Inc. (NYSE:DK) by 16.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,455,000 shares of the oil and gas company’s stock after purchasing an additional 488,509 shares during the quarter. Delek US accounts for approximately 3.7% of Ion Asset Management Ltd.’s investment portfolio, making the stock its 6th largest holding. Ion Asset Management Ltd. owned approximately 0.05% of Delek US worth $63,918,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Sterling Capital Management LLC grew its holdings in Delek US by 728.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,491 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 1,311 shares during the period. KBC Group NV boosted its position in shares of Delek US by 66.3% in the 4th quarter. KBC Group NV now owns 3,859 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 1,538 shares during the last quarter. ARS Investment Partners LLC bought a new stake in Delek US in the fourth quarter valued at about $185,000. Abel Hall LLC acquired a new position in Delek US in the fourth quarter valued at about $196,000. Finally, Diametric Capital LP bought a new position in Delek US during the fourth quarter worth about $251,000. 97.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Delek US

In other Delek US news, CFO Mark Wayne Hobbs acquired 2,800 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $13.70 per share, for a total transaction of $38,360.00. Following the transaction, the chief financial officer now owns 49,138 shares in the company, valued at $673,190.60. This represents a 6.04 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought 5,055 shares of company stock worth $70,787 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

DK has been the subject of a number of recent analyst reports. Mizuho lowered their price objective on shares of Delek US from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Morgan Stanley lowered their target price on Delek US from $18.00 to $14.00 and set an “underweight” rating for the company in a research note on Thursday, April 24th. Raymond James reduced their price target on shares of Delek US from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. UBS Group dropped their price objective on shares of Delek US from $21.00 to $13.25 and set a “neutral” rating on the stock in a report on Wednesday, April 9th. Finally, Piper Sandler dropped their price target on Delek US from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.11.

Delek US Stock Up 4.0 %

DK stock opened at $13.63 on Tuesday. Delek US Holdings, Inc. has a 1-year low of $11.03 and a 1-year high of $29.49. The stock’s fifty day simple moving average is $14.48 and its two-hundred day simple moving average is $16.81. 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 stock has a market cap of $852.05 million, a P/E ratio of -2.80 and a beta of 1.04.

Delek US (NYSE:DK) last issued its earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm earned ($1.46) EPS. The company’s revenue was down 39.8% compared to the same quarter last year. Analysts expect that Delek US Holdings, Inc. will post -5.5 EPS for the current year.

Delek US Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, March 3rd were issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 7.48%. The ex-dividend date was Monday, March 3rd. Delek US’s payout ratio is -11.54%.

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.