Stone Ridge Asset Management LLC purchased a new stake in shares of Delek US Holdings, Inc. (NYSE:DK) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 28,275 shares of the oil and gas company’s stock, valued at approximately $988,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DK. Dimensional Fund Advisors LP lifted its stake in shares of Delek US by 35.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,058,494 shares of the oil and gas company’s stock valued at $188,672,000 after purchasing an additional 1,833,630 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Delek US by 3.1% in the 4th quarter. BlackRock Inc. now owns 5,148,200 shares of the oil and gas company’s stock valued at $179,880,000 after purchasing an additional 154,903 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Delek US by 315.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,790,717 shares of the oil and gas company’s stock valued at $74,596,000 after purchasing an additional 2,119,017 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Delek US by 21.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,396,175 shares of the oil and gas company’s stock valued at $48,782,000 after purchasing an additional 246,572 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Delek US in the 4th quarter valued at approximately $40,703,000. Institutional investors and hedge funds own 91.07% of the company’s stock.
In other Delek US news, COO Frederec Green sold 10,000 shares of Delek US stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $34.00, for a total transaction of $340,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel L. Gordon sold 2,500 shares of Delek US stock in a transaction on Monday, March 12th. The shares were sold at an average price of $37.57, for a total value of $93,925.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 270,109 shares of company stock valued at $10,022,256. 1.61% of the stock is currently owned by corporate insiders.
DK has been the subject of several analyst reports. Wells Fargo reaffirmed a “positive” rating on shares of Delek US in a research note on Thursday, November 23rd. Bank of America lowered Delek US from a “neutral” rating to an “underperform” rating and set a $34.00 price objective for the company. in a research note on Friday, December 8th. Zacks Investment Research raised Delek US from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective for the company in a research note on Thursday, December 14th. TheStreet raised Delek US from a “c+” rating to a “b-” rating in a research note on Monday, December 18th. Finally, Howard Weil raised Delek US from a “sector perform” rating to a “focus list” rating and raised their price objective for the company from $26.00 to $41.00 in a research note on Thursday, December 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. Delek US has an average rating of “Buy” and a consensus target price of $37.43.
Shares of Delek US stock opened at $37.39 on Monday. Delek US Holdings, Inc. has a one year low of $20.65 and a one year high of $39.43. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $3,137.74, a P/E ratio of 34.94, a P/E/G ratio of 1.54 and a beta of 1.63.
Delek US (NYSE:DK) last issued its quarterly earnings results on Monday, February 26th. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.10. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.10 billion. Delek US had a return on equity of 5.99% and a net margin of 3.99%. Delek US’s quarterly revenue was up 129.0% compared to the same quarter last year. During the same period last year, the company earned ($0.44) EPS. analysts anticipate that Delek US Holdings, Inc. will post 2.42 earnings per share for the current fiscal year.
Delek US declared that its Board of Directors has initiated a share buyback plan on Monday, February 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Monday, March 12th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, March 9th. This is a positive change from Delek US’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 2.14%. Delek US’s payout ratio is 23.39%.
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Delek US Company Profile
Delek US Holdings, Inc is a diversified downstream energy company. The Company has a broad platform consisting of refining, logistics, retail and wholesale marketing, renewables and asphalt operations. It operates through five segments: refining, logistics, asphalt, renewable and retail. Its refining assets consist of refineries operated in Tyler and Big Spring, Texas, El Dorado, Arkansas and Krotz Springs, Louisiana with a combined nameplate crude throughput capacity of 302,000 barrels per day.
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