JPMorgan Chase & Co. Sells 376,281 Shares of Delek US Holdings, Inc. (NYSE:DK)

JPMorgan Chase & Co. reduced its stake in shares of Delek US Holdings, Inc. (NYSE:DK) by 78.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,888 shares of the oil and gas company’s stock after selling 376,281 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.17% of Delek US worth $1,959,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of DK. Barclays PLC raised its stake in Delek US by 51.5% during the third quarter. Barclays PLC now owns 1,496,825 shares of the oil and gas company’s stock valued at $28,065,000 after buying an additional 508,719 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Delek US by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,459,301 shares of the oil and gas company’s stock worth $27,368,000 after purchasing an additional 63,502 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Delek US by 6.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 766,807 shares of the oil and gas company’s stock valued at $14,186,000 after purchasing an additional 45,017 shares in the last quarter. Empowered Funds LLC lifted its holdings in Delek US by 5.1% during the fourth quarter. Empowered Funds LLC now owns 335,932 shares of the oil and gas company’s stock valued at $6,215,000 after purchasing an additional 16,345 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Delek US during the fourth quarter valued at about $5,100,000. 97.01% of the stock is owned by institutional investors.

Delek US Trading Down 0.9 %

Shares of NYSE:DK opened at $13.01 on Friday. The business has a 50-day moving average price of $14.66 and a 200-day moving average price of $16.93. The stock has a market cap of $813.29 million, a price-to-earnings ratio of -2.68 and a beta of 1.04. Delek US Holdings, Inc. has a 52-week low of $11.03 and a 52-week high of $29.56. The company has a quick ratio of 0.67, a current ratio of 1.04 and a debt-to-equity ratio of 3.18.

Delek US (NYSE:DK) last posted its earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) EPS for the quarter, missing the consensus estimate of ($1.53) by ($1.01). Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the business earned ($1.46) earnings per share. The firm’s revenue was down 39.8% on a year-over-year basis. Equities analysts predict that Delek US Holdings, Inc. will post -5.5 EPS for the current year.

Delek US Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 7.84%. The ex-dividend date was Monday, March 3rd. Delek US’s payout ratio is currently -11.54%.

Analysts Set New Price Targets

Several research firms recently weighed in on DK. Scotiabank cut their target price on shares of Delek US from $24.00 to $14.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Wolfe Research raised Delek US from an “underperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Mizuho dropped their target price on shares of Delek US from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th. Piper Sandler cut their target price on shares of Delek US from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Finally, Raymond James cut their target price on Delek US from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Delek US currently has an average rating of “Hold” and a consensus target price of $17.11.

Insider Activity

In other Delek US news, CFO Mark Wayne Hobbs bought 2,800 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $13.70 per share, for a total transaction of $38,360.00. Following the transaction, the chief financial officer now directly owns 49,138 shares of the company’s stock, valued at approximately $673,190.60. This represents a 6.04 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have acquired 5,055 shares of company stock worth $70,787 in the last ninety days. Company insiders own 1.80% of the company’s stock.

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.