Bank of New York Mellon Corp decreased its holdings in shares of Delek US Holdings, Inc. (NYSE:DK – Free Report) by 11.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 602,751 shares of the oil and gas company’s stock after selling 80,617 shares during the quarter. Bank of New York Mellon Corp owned about 0.92% of Delek US worth $14,436,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Arizona State Retirement System grew its holdings in shares of Delek US by 3.5% in the second quarter. Arizona State Retirement System now owns 18,817 shares of the oil and gas company’s stock valued at $451,000 after purchasing an additional 643 shares during the period. LPL Financial LLC grew its holdings in shares of Delek US by 79.5% in the second quarter. LPL Financial LLC now owns 28,197 shares of the oil and gas company’s stock valued at $675,000 after purchasing an additional 12,489 shares during the period. EA Series Trust purchased a new stake in shares of Delek US in the second quarter valued at about $5,900,000. Peregrine Capital Management LLC grew its holdings in shares of Delek US by 21.5% in the second quarter. Peregrine Capital Management LLC now owns 367,389 shares of the oil and gas company’s stock valued at $8,799,000 after purchasing an additional 65,012 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Delek US by 5.6% in the second quarter. Janney Montgomery Scott LLC now owns 53,327 shares of the oil and gas company’s stock valued at $1,277,000 after purchasing an additional 2,810 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.
Analyst Upgrades and Downgrades
DK has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price objective on shares of Delek US from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Monday, October 9th. Mizuho lowered their target price on shares of Delek US from $33.00 to $27.00 and set an “underperform” rating for the company in a research note on Friday, October 6th. Morgan Stanley lowered their target price on shares of Delek US from $27.00 to $25.00 and set an “underweight” rating for the company in a research note on Tuesday, July 18th. Raymond James lowered their target price on shares of Delek US from $33.00 to $32.00 and set an “outperform” rating for the company in a research note on Wednesday, November 8th. Finally, Bank of America increased their target price on shares of Delek US from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, September 18th. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.78.
Insider Activity at Delek US
In related news, Director Laurie Z. Tolson sold 2,700 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $26.67, for a total value of $72,009.00. Following the sale, the director now owns 12,340 shares of the company’s stock, valued at $329,107.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by corporate insiders.
Delek US Stock Up 4.5 %
Shares of DK opened at $27.34 on Wednesday. The stock has a market capitalization of $1.75 billion, a PE ratio of 25.79, a P/E/G ratio of 1.25 and a beta of 1.39. Delek US Holdings, Inc. has a 1 year low of $19.39 and a 1 year high of $35.45. The company has a debt-to-equity ratio of 2.25, a quick ratio of 0.72 and a current ratio of 1.11. The company’s 50-day simple moving average is $27.31 and its 200-day simple moving average is $25.41.
Delek US (NYSE:DK – Get Free Report) last issued its quarterly earnings results on Tuesday, November 7th. The oil and gas company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.66. The business had revenue of $4.75 billion for the quarter, compared to analysts’ expectations of $3.62 billion. Delek US had a net margin of 0.38% and a return on equity of 31.77%. The business’s quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 earnings per share. Analysts forecast that Delek US Holdings, Inc. will post 3.98 earnings per share for the current fiscal year.
Delek US Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 13th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Friday, November 10th. This is a boost from Delek US’s previous quarterly dividend of $0.24. Delek US’s dividend payout ratio is currently 90.57%.
About Delek US
Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through three segments: Refining, Logistics, and Retail. 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.
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