Quantbot Technologies LP acquired a new stake in Delek US Holdings, Inc. (NYSE:DK – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 19,515 shares of the oil and gas company’s stock, valued at approximately $992,000.
A number of other large investors have also recently bought and sold shares of DK. Vanguard Group Inc. lifted its position in shares of Delek US by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company’s stock worth $187,773,000 after buying an additional 38,577 shares during the last quarter. Williamson Legacy Group LLC acquired a new position in shares of Delek US during the 4th quarter valued at about $1,095,000. Y Intercept Hong Kong Ltd increased its holdings in shares of Delek US by 281.5% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 45,471 shares of the oil and gas company’s stock valued at $2,049,000 after acquiring an additional 33,553 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Delek US by 118.0% in the 1st quarter. Bank of America Corp DE now owns 846,204 shares of the oil and gas company’s stock valued at $38,138,000 after acquiring an additional 458,004 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in Delek US in the 4th quarter worth approximately $1,093,000. 97.01% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on DK shares. Wall Street Zen raised Delek US from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 9th. The Goldman Sachs Group lifted their price target on shares of Delek US from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Citigroup restated a “neutral” rating on shares of Delek US in a research note on Thursday, August 6th. Morgan Stanley upped their price objective on shares of Delek US from $41.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, June 12th. Finally, Weiss Ratings upgraded shares of Delek US from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $53.15.
Insider Activity
In other Delek US news, CEO Avigal Soreq sold 80,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $66.51, for a total value of $5,320,800.00. Following the completion of the transaction, the chief executive officer owned 231,486 shares of the company’s stock, valued at $15,396,133.86. This represents a 25.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary M. Jr. Sullivan sold 27,688 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $69.01, for a total value of $1,910,748.88. Following the completion of the sale, the director owned 32,004 shares of the company’s stock, valued at $2,208,596.04. This represents a 46.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 152,925 shares of company stock valued at $10,013,091. Corporate insiders own 3.56% of the company’s stock.
Delek US Stock Up 4.7%
DK opened at $70.78 on Thursday. Delek US Holdings, Inc. has a 1-year low of $25.66 and a 1-year high of $72.00. The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 1.47 and a beta of 0.57. The business has a 50 day moving average of $59.52 and a 200-day moving average of $48.31.
Delek US (NYSE:DK – Get Free Report) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $2.81. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $3.44 billion. Delek US had a net margin of 1.86% and a return on equity of 109.03%. Delek US’s revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.56) earnings per share. As a group, sell-side analysts anticipate that Delek US Holdings, Inc. will post 10.1 earnings per share for the current year.
Delek US Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.02 dividend on an annualized basis and a yield of 1.4%. Delek US’s dividend payout ratio (DPR) is 28.65%.
About Delek US
Delek US Holdings, Inc (NYSE: DK) is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.
In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.
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