T. Rowe Price Investment Management Inc. Invests $13.73 Million in Delek US Holdings, Inc. $DK

Key Points

• T. Rowe Price Investment Management Inc. acquired 910,917 shares of Delek US Holdings, valued at approximately $13.7 million, representing a 1.50% ownership stake.
• Institutional investors collectively own 97.01% of Delek US, signifying strong interest from major financial entities in the oil and gas company.
• Delek US's stock is rated as "Reduce" by analysts, with a consensus target price of $20.35 despite recent improvements in earnings performance.

T. Rowe Price Investment Management Inc. bought a new stake in Delek US Holdings, Inc. (NYSE:DK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 910,917 shares of the oil and gas company's stock, valued at approximately $13,728,000. T. Rowe Price Investment Management Inc. owned 1.50% of Delek US as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Wells Fargo & Company MN lifted its holdings in shares of Delek US by 33.0% in the fourth quarter. Wells Fargo & Company MN now owns 35,531 shares of the oil and gas company's stock worth $657,000 after acquiring an additional 8,824 shares during the last quarter. First Trust Advisors LP raised its holdings in Delek US by 114.9% in the 4th quarter. First Trust Advisors LP now owns 121,037 shares of the oil and gas company's stock valued at $2,239,000 after buying an additional 64,725 shares during the last quarter. MetLife Investment Management LLC increased its position in Delek US by 6.4% during the 4th quarter. MetLife Investment Management LLC now owns 38,532 shares of the oil and gas company's stock valued at $713,000 after purchasing an additional 2,311 shares during the period. Tower Research Capital LLC TRC increased its position in Delek US by 532.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,699 shares of the oil and gas company's stock valued at $253,000 after purchasing an additional 11,534 shares during the period. Finally, Hsbc Holdings PLC increased its position in Delek US by 100.9% during the 4th quarter. Hsbc Holdings PLC now owns 163,796 shares of the oil and gas company's stock valued at $3,063,000 after purchasing an additional 82,279 shares during the period. Institutional investors own 97.01% of the company's stock.

Delek US Stock Performance

NYSE DK traded up $0.52 during trading on Friday, hitting $27.48. 957,442 shares of the company's stock traded hands, compared to its average volume of 1,691,098. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -2.24 and a beta of 1.00. Delek US Holdings, Inc. has a 12-month low of $11.02 and a 12-month high of $27.53. The company has a debt-to-equity ratio of 10.48, a quick ratio of 0.50 and a current ratio of 0.80. The business has a 50 day moving average of $23.13 and a 200-day moving average of $18.60.

Delek US (NYSE:DK - Get Free Report) last posted its earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) earnings per share for the quarter, beating analysts' consensus estimates of ($0.92) by $0.36. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.68 billion. Delek US had a negative return on equity of 79.27% and a negative net margin of 7.11%.The company's quarterly revenue was down 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.92) EPS. As a group, equities research analysts anticipate that Delek US Holdings, Inc. will post -5.5 earnings per share for the current fiscal year.

Delek US Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 11th were issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Monday, August 11th. Delek US's payout ratio is presently -8.30%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Piper Sandler increased their target price on shares of Delek US from $17.00 to $27.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company increased their target price on shares of Delek US from $11.00 to $15.00 and gave the company an "underweight" rating in a research report on Wednesday, June 11th. Scotiabank reissued a "sector perform" rating and set a $20.00 target price (up previously from $14.00) on shares of Delek US in a research report on Friday, July 11th. Cowen reissued a "sell" rating on shares of Delek US in a research report on Friday, August 8th. Finally, Raymond James Financial increased their target price on shares of Delek US from $23.00 to $28.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $20.35.

Delek US 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.