Envestnet Asset Management Inc. Has $2.52 Million Position in Delek US Holdings, Inc. $DK

Envestnet Asset Management Inc. lessened its position in shares of Delek US Holdings, Inc. (NYSE:DK) by 26.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,985 shares of the oil and gas company’s stock after selling 27,707 shares during the period. Envestnet Asset Management Inc. owned approximately 0.13% of Delek US worth $2,517,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Allianz Asset Management GmbH lifted its stake in Delek US by 40.2% during the third quarter. Allianz Asset Management GmbH now owns 1,474,083 shares of the oil and gas company’s stock worth $47,569,000 after purchasing an additional 423,017 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Delek US during the 3rd quarter worth $1,338,000. Federated Hermes Inc. bought a new stake in shares of Delek US during the 3rd quarter worth $5,416,000. Quantbot Technologies LP acquired a new stake in Delek US in the second quarter valued at about $1,089,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Delek US in the second quarter valued at about $454,000. 97.01% of the stock is owned by institutional investors.

Delek US Price Performance

Shares of DK opened at $36.38 on Friday. The business has a 50-day moving average of $30.97 and a 200-day moving average of $32.47. The company has a debt-to-equity ratio of 7.12, a current ratio of 0.86 and a quick ratio of 0.58. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -4.46 and a beta of 0.84. Delek US Holdings, Inc. has a 1 year low of $11.02 and a 1 year high of $43.50.

Delek US Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.255 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.02 annualized dividend and a dividend yield of 2.8%. Delek US’s dividend payout ratio is -12.50%.

Analyst Upgrades and Downgrades

Several brokerages have commented on DK. Piper Sandler lowered their target price on Delek US from $47.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. UBS Group increased their price objective on shares of Delek US from $31.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, November 18th. Morgan Stanley decreased their target price on shares of Delek US from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Delek US in a research note on Wednesday, January 21st. Finally, Citigroup reduced their price objective on Delek US from $37.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, January 26th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $38.85.

Delek US Profile

Delek US Holdings, Inc (NYSE: DK) is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.