33,675 Shares of Delek US Holdings, Inc. $DK Acquired by SummerHaven Investment Management LLC

Key Points

• SummerHaven Investment Management acquired 33,675 Delek US shares worth approximately $2.4 million in the third quarter, making DK its ninth-largest portfolio holding and representing a 0.05% stake.
• Delek US reported quarterly EPS of $5.48, beating consensus by $2.81, while revenue rose 47.9% year over year to $4.09 billion. The company also pays a quarterly dividend of $0.255 per share, equivalent to a 1.3% annualized yield.
• Analyst sentiment is moderately bullish, with a consensus “Moderate Buy” rating and a $70.83 target price; however, company insiders sold 163,377 shares worth about $11.1 million over the past three months.

SummerHaven Investment Management LLC bought a new position in shares of Delek US Holdings, Inc. (NYSE:DK - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 33,675 shares of the oil and gas company's stock, valued at approximately $2,403,000. Delek US accounts for 1.7% of SummerHaven Investment Management LLC's investment portfolio, making the stock its 9th largest position. SummerHaven Investment Management LLC owned 0.05% of Delek US as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new position in Delek US during the 3rd quarter valued at about $858,000. Fortitude Family Office LLC raised its position in Delek US by 223.7% during the 3rd quarter. Fortitude Family Office LLC now owns 547 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 378 shares during the last quarter. Contravisory Investment Management Inc. lifted its holdings in Delek US by 12.1% in the 3rd quarter. Contravisory Investment Management Inc. now owns 6,822 shares of the oil and gas company's stock worth $487,000 after buying an additional 735 shares during the period. GK Wealth Management LLC purchased a new stake in Delek US in the 3rd quarter worth approximately $100,000. Finally, GAMMA Investing LLC lifted its holdings in Delek US by 61.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the oil and gas company's stock worth $84,000 after buying an additional 451 shares during the period. 97.01% of the stock is owned by institutional investors.

Delek US Stock Performance

Shares of Delek US stock opened at $76.75 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53. The firm has a market capitalization of $4.70 billion, a P/E ratio of 21.56, a P/E/G ratio of 0.38 and a beta of 0.62. The business has a fifty day simple moving average of $72.37 and a two-hundred day simple moving average of $57.30. Delek US Holdings, Inc. has a 12 month low of $25.85 and a 12 month high of $82.27.

Delek US (NYSE:DK - Get Free Report) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 EPS for the quarter, beating analysts' consensus estimates of $2.67 by $2.81. The firm had revenue of $4.09 billion for the quarter, compared to analysts' expectations of $3.44 billion. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The company's quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.56) EPS. On average, equities analysts forecast that Delek US Holdings, Inc. will post 15.95 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a dividend of $0.2550 per share. This represents a $1.02 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 3rd. Delek US's dividend payout ratio (DPR) is 28.65%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DK. Zacks Research upgraded Delek US from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 26th. Freedom Broker initiated coverage on Delek US in a report on Wednesday, October 7th. They set a "hold" rating and a $86.00 target price for the company. Weiss Ratings upgraded Delek US from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Raymond James Financial raised their price target on Delek US from $72.00 to $90.00 and gave the stock an "outperform" rating in a research note on Monday, September 14th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Delek US in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $70.83.

Insider Buying and Selling at Delek US

In related news, Director Gary Sullivan, Jr. sold 27,688 shares of the business's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $69.01, for a total transaction of $1,910,748.88. Following the sale, the director owned 32,004 shares of the company's stock, valued at $2,208,596.04. The trade was a 46.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William Finnerty sold 2,943 shares of the company's stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $77.17, for a total transaction of $227,111.31. Following the completion of the sale, the director owned 30,405 shares in the company, valued at approximately $2,346,353.85. This trade represents a 8.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 163,377 shares of company stock valued at $11,082,485 over the last three months. 3.56% of the stock is currently owned by corporate insiders.

Delek US Profile

Delek US Holdings, Inc is an independent downstream energy company headquartered in Brentwood, Tennessee. The company operates petroleum refineries and related logistics assets, producing transportation fuels and other refined petroleum products for commercial and wholesale customers.

Delek's refining operations have included facilities in the U.S. Gulf Coast and Mid-Continent regions, with assets in Texas, Arkansas and Louisiana. Its products may include gasoline, diesel, jet fuel, asphalt and other refined products.

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