Corigliano Investment Advisers LLC Takes Position in Delek US Holdings, Inc. (NYSE:DK)

Corigliano Investment Advisers LLC purchased a new position in shares of Delek US Holdings, Inc. (NYSE:DK - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 237,988 shares of the oil and gas company's stock, valued at approximately $4,403,000. Delek US makes up 2.1% of Corigliano Investment Advisers LLC's portfolio, making the stock its 23rd largest position. Corigliano Investment Advisers LLC owned about 0.38% of Delek US as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its position in shares of Delek US by 728.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,491 shares of the oil and gas company's stock valued at $28,000 after buying an additional 1,311 shares during the last quarter. KBC Group NV increased its position in shares of Delek US by 66.3% during the fourth quarter. KBC Group NV now owns 3,859 shares of the oil and gas company's stock worth $71,000 after purchasing an additional 1,538 shares in the last quarter. ARS Investment Partners LLC purchased a new stake in shares of Delek US in the 4th quarter valued at about $185,000. Abel Hall LLC purchased a new position in Delek US during the 4th quarter worth approximately $196,000. Finally, Freestone Grove Partners LP acquired a new position in Delek US during the fourth quarter worth approximately $209,000. Institutional investors and hedge funds own 97.01% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DK. Wells Fargo & Company cut their target price on shares of Delek US from $16.00 to $11.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Scotiabank reduced 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 report on Friday, April 11th. The Goldman Sachs Group lowered their price target on Delek US from $17.00 to $15.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Raymond James reduced their price objective on Delek US from $24.00 to $23.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Piper Sandler lowered their target price on Delek US from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Delek US currently has a consensus rating of "Hold" and an average price target of $16.94.

Insider Buying and Selling at Delek US

In related news, CFO Mark Wayne Hobbs acquired 2,800 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 owns 49,138 shares in the company, valued at $673,190.60. This trade represents a 6.04 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have acquired 5,055 shares of company stock valued at $70,787 over the last quarter. Corporate insiders own 1.80% of the company's stock.

Delek US Price Performance

Shares of DK traded up $0.07 during trading hours on Friday, reaching $15.34. The company had a trading volume of 2,235,558 shares, compared to its average volume of 1,245,053. The company has a market capitalization of $931.55 million, a price-to-earnings ratio of -3.16 and a beta of 0.74. Delek US Holdings, Inc. has a 12-month low of $11.03 and a 12-month high of $28.91. The firm has a 50 day simple moving average of $14.10 and a 200-day simple moving average of $16.61. The company has a current ratio of 1.04, a quick ratio of 0.67 and a debt-to-equity ratio of 3.18.

Delek US (NYSE:DK - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported ($2.32) earnings per share for the quarter, missing the consensus estimate of ($2.27) by ($0.05). The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.56 billion. Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The business's revenue for the quarter was down 18.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.41) earnings per share. Research analysts expect that Delek US Holdings, Inc. will post -5.5 earnings per share for the current year.

Delek US Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 12th will be given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date of this dividend is Monday, May 12th. Delek US's payout ratio is currently -9.18%.

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.