Comerica Bank Grows Stock Holdings in Delek US Holdings, Inc. $DK

Comerica Bank boosted its position in Delek US Holdings, Inc. (NYSE:DK) by 96.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 40,336 shares of the oil and gas company’s stock after acquiring an additional 19,788 shares during the period. Comerica Bank owned about 0.07% of Delek US worth $608,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DK. CWM LLC grew its stake in Delek US by 100.9% in the 1st quarter. CWM LLC now owns 2,318 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 1,164 shares during the period. Creative Financial Designs Inc. ADV purchased a new stake in Delek US in the 1st quarter worth approximately $47,000. GAMMA Investing LLC grew its stake in Delek US by 907.0% in the 1st quarter. GAMMA Investing LLC now owns 4,159 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 3,746 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Delek US by 77.4% in the 1st quarter. Farther Finance Advisors LLC now owns 7,118 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 3,105 shares during the last quarter. Finally, Net Worth Advisory Group acquired a new position in shares of Delek US in the 1st quarter valued at $159,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Delek US news, CFO Robert G. Wright sold 7,135 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $29.24, for a total value of $208,627.40. Following the transaction, the chief financial officer owned 48,294 shares in the company, valued at $1,412,116.56. The trade was a 12.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.90% of the stock is owned by corporate insiders.

Delek US Stock Performance

NYSE:DK opened at $31.29 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 10.48. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -2.55 and a beta of 1.09. The firm’s fifty day simple moving average is $24.23 and its 200 day simple moving average is $19.12. Delek US Holdings, Inc. has a twelve month low of $11.02 and a twelve month high of $32.48.

Delek US (NYSE:DK) last posted its earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.36. Delek US had a negative net margin of 7.11% and a negative return on equity of 79.27%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the previous year, the business posted ($0.92) EPS. The business’s quarterly revenue was down 16.4% on a year-over-year basis. As a group, equities research analysts expect that Delek US Holdings, Inc. will post -5.5 earnings per share for the current fiscal year.

Delek US Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 11th were issued a $0.255 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.02 dividend on an annualized basis and a yield of 3.3%. Delek US’s payout ratio is currently -8.30%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Scotiabank reiterated a “sector perform” rating and issued a $20.00 price target (up previously from $14.00) on shares of Delek US in a report on Friday, July 11th. Citigroup reiterated a “neutral” rating and issued a $30.00 price target (up previously from $15.00) on shares of Delek US in a report on Wednesday, July 16th. UBS Group lifted their price target on shares of Delek US from $24.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, September 2nd. Cowen reiterated a “sell” rating on shares of Delek US in a report on Friday, August 8th. Finally, Bank of America lifted their price target on shares of Delek US from $14.00 to $24.00 and gave the company an “underperform” rating in a report on Wednesday, September 3rd. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $23.77.

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.