Norges Bank Purchases New Position in Delek US Holdings, Inc. (NYSE:DK)

Norges Bank acquired a new position in shares of Delek US Holdings, Inc. (NYSE:DKFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 633,369 shares of the oil and gas company’s stock, valued at approximately $16,341,000. Norges Bank owned about 0.99% of Delek US as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in DK. SummerHaven Investment Management LLC increased its position in Delek US by 1.3% in the 4th quarter. SummerHaven Investment Management LLC now owns 31,891 shares of the oil and gas company’s stock valued at $823,000 after acquiring an additional 404 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Delek US by 4.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,817 shares of the oil and gas company’s stock worth $382,000 after purchasing an additional 688 shares during the last quarter. Spirit of America Management Corp NY acquired a new stake in shares of Delek US during the fourth quarter worth $26,000. Jump Financial LLC lifted its holdings in shares of Delek US by 2.1% during the fourth quarter. Jump Financial LLC now owns 113,092 shares of the oil and gas company’s stock worth $2,918,000 after purchasing an additional 2,325 shares during the period. Finally, Boston Partners grew its position in Delek US by 0.5% in the 3rd quarter. Boston Partners now owns 539,381 shares of the oil and gas company’s stock valued at $15,153,000 after buying an additional 2,630 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. StockNews.com downgraded shares of Delek US from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. UBS Group upped their price objective on Delek US from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Mizuho raised their target price on Delek US from $30.00 to $31.00 and gave the company an “underperform” rating in a report on Monday, May 13th. JPMorgan Chase & Co. decreased their target price on shares of Delek US from $26.00 to $25.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 21st. Finally, Bank of America increased their price target on shares of Delek US from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Delek US currently has an average rating of “Hold” and an average target price of $28.50.

Check Out Our Latest Report on DK

Delek US Stock Performance

Shares of DK opened at $25.08 on Tuesday. Delek US Holdings, Inc. has a 1 year low of $21.68 and a 1 year high of $33.60. The company’s 50 day simple moving average is $29.00 and its 200 day simple moving average is $27.59. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -20.23 and a beta of 1.29. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.64 and a current ratio of 1.04.

Delek US (NYSE:DKGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The oil and gas company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.15. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.28 billion. Delek US had a positive return on equity of 7.37% and a negative net margin of 0.48%. The business’s revenue for the quarter was down 17.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.37 EPS. On average, sell-side analysts predict that Delek US Holdings, Inc. will post 1.08 EPS for the current year.

Delek US Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 17th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.99%. This is an increase from Delek US’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, May 16th. Delek US’s payout ratio is presently -80.65%.

About Delek US

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Delek US (NYSE:DK)

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