Bailard Inc. Takes Position in Delek US Holdings, Inc. (NYSE:DK)

Bailard Inc. bought a new stake in Delek US Holdings, Inc. (NYSE:DK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,100 shares of the oil and gas company’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. SummerHaven Investment Management LLC lifted its position in Delek US by 1.8% during the second quarter. SummerHaven Investment Management LLC now owns 32,845 shares of the oil and gas company’s stock worth $813,000 after buying an additional 580 shares in the last quarter. Shell Asset Management Co. lifted its position in Delek US by 6.8% during the first quarter. Shell Asset Management Co. now owns 9,890 shares of the oil and gas company’s stock worth $304,000 after buying an additional 628 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Delek US by 4.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,817 shares of the oil and gas company’s stock valued at $382,000 after purchasing an additional 688 shares during the period. ProShare Advisors LLC raised its position in Delek US by 7.1% in the first quarter. ProShare Advisors LLC now owns 11,412 shares of the oil and gas company’s stock valued at $351,000 after purchasing an additional 754 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Delek US in the first quarter valued at $31,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Analyst Upgrades and Downgrades

DK has been the topic of a number of research analyst reports. Piper Sandler reduced their target price on Delek US from $30.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Wells Fargo & Company reduced their target price on Delek US from $25.00 to $20.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 16th. Mizuho reduced their target price on Delek US from $31.00 to $27.00 and set an “underperform” rating on the stock in a research report on Thursday, June 20th. JPMorgan Chase & Co. reduced their target price on Delek US from $25.00 to $23.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 2nd. Finally, Scotiabank reduced their target price on Delek US from $27.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $25.30.

Delek US Trading Down 3.2 %

Shares of NYSE DK opened at $19.91 on Wednesday. Delek US Holdings, Inc. has a twelve month low of $19.33 and a twelve month high of $33.60. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 2.40. The stock has a fifty day simple moving average of $22.49 and a 200-day simple moving average of $26.08. The stock has a market capitalization of $1.28 billion, a PE ratio of -16.06 and a beta of 1.19.

Delek US (NYSE:DK) last released its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($1.42) by $0.50. Delek US had a positive return on equity of 7.37% and a negative net margin of 0.48%. The firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the previous year, the firm posted $1.00 EPS. Delek US’s revenue for the quarter was down 18.4% on a year-over-year basis. On average, equities analysts forecast that Delek US Holdings, Inc. will post -2.83 earnings per share for the current year.

Delek US Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 5.12%. This is a boost from Delek US’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, August 12th. Delek US’s payout ratio is presently -82.26%.

Insider Buying and Selling

In related news, Director Richard J. Marcogliese bought 2,750 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was purchased at an average cost of $23.99 per share, with a total value of $65,972.50. Following the purchase, the director now directly owns 42,863 shares of the company’s stock, valued at approximately $1,028,283.37. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Delek US news, Director Richard J. Marcogliese purchased 2,750 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was bought at an average cost of $23.99 per share, with a total value of $65,972.50. Following the acquisition, the director now directly owns 42,863 shares of the company’s stock, valued at $1,028,283.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Avigal Soreq purchased 5,651 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were acquired at an average cost of $20.42 per share, with a total value of $115,393.42. Following the completion of the acquisition, the chief executive officer now directly owns 188,881 shares in the company, valued at $3,856,950.02. The disclosure for this purchase can be found here. Insiders sold 2,854 shares of company stock valued at $65,603 in the last three months. 1.80% of the stock is owned by corporate insiders.

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.