Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in Delek US Holdings, Inc. (NYSE:DK)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Delek US Holdings, Inc. (NYSE:DK) by 4.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 14,817 shares of the oil and gas company’s stock after buying an additional 688 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Delek US were worth $382,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mackenzie Financial Corp lifted its holdings in Delek US by 90.2% during the fourth quarter. Mackenzie Financial Corp now owns 19,352 shares of the oil and gas company’s stock worth $499,000 after buying an additional 9,179 shares during the period. Strs Ohio purchased a new stake in shares of Delek US during the 4th quarter worth $95,000. International Assets Investment Management LLC boosted its position in Delek US by 2,421.9% during the fourth quarter. International Assets Investment Management LLC now owns 937,785 shares of the oil and gas company’s stock valued at $24,195,000 after purchasing an additional 900,600 shares in the last quarter. Spirit of America Management Corp NY purchased a new position in Delek US in the fourth quarter valued at about $26,000. Finally, Raymond James & Associates bought a new position in Delek US in the fourth quarter worth about $13,295,000. 97.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citigroup started coverage on shares of Delek US in a report on Wednesday, January 24th. They issued a “neutral” rating on the stock. StockNews.com downgraded shares of Delek US from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. UBS Group upped their price target on Delek US from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. TD Cowen increased their price objective on Delek US from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Wednesday, February 28th. Finally, Scotiabank boosted their target price on Delek US from $25.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.56.

Insiders Place Their Bets

In related news, CFO Robert G. Wright sold 2,123 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $28.50, for a total transaction of $60,505.50. Following the completion of the transaction, the chief financial officer now owns 18,925 shares of the company’s stock, valued at $539,362.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 4,976 shares of company stock valued at $141,243. 1.80% of the stock is owned by insiders.

Delek US Price Performance

Shares of DK opened at $26.91 on Friday. The company has a debt-to-equity ratio of 2.66, a current ratio of 0.99 and a quick ratio of 0.63. The company’s fifty day moving average price is $29.13 and its 200-day moving average price is $27.43. Delek US Holdings, Inc. has a 1-year low of $19.39 and a 1-year high of $33.60. The firm has a market capitalization of $1.72 billion, a PE ratio of 122.32 and a beta of 1.34.

Delek US (NYSE:DK) last posted its quarterly earnings results on Tuesday, February 27th. The oil and gas company reported ($1.46) earnings per share for the quarter, missing the consensus estimate of ($1.28) by ($0.18). The firm had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Delek US had a net margin of 0.12% and a return on equity of 18.27%. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 EPS. On average, equities research analysts predict that Delek US Holdings, Inc. will post 1.38 EPS for the current year.

Delek US Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, March 1st were issued a $0.245 dividend. This represents a $0.98 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from Delek US’s previous quarterly dividend of $0.24. Delek US’s dividend payout ratio is 445.45%.

Delek US Company Profile

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.