Alberta Investment Management Corp Makes New Investment in Delek US Holdings, Inc. $DK

Key Points

• Alberta Investment Management Corp. acquired 91,000 shares of Delek US Holdings in the second quarter, worth approximately $4.6 million and representing a 0.15% stake. Institutional investors collectively own 97.01% of the company.
• Delek US reported quarterly EPS of $5.48, exceeding the $2.67 consensus estimate, while revenue rose 47.9% year over year to $4.09 billion. The company also declared a quarterly dividend of $0.255, equivalent to a 1.5% annualized yield.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $52.38 target price, below the stock’s reported $67.14 opening price. Recent insider activity was negative, with insiders selling 13,629 shares worth $652,685 over the past 90 days.

Alberta Investment Management Corp purchased a new stake in shares of Delek US Holdings, Inc. (NYSE:DK - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 91,000 shares of the oil and gas company's stock, valued at approximately $4,624,000. Alberta Investment Management Corp owned 0.15% of Delek US at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of DK. Bank of New York Mellon Corp acquired a new stake in Delek US in the second quarter valued at $19,760,000. State of Wyoming acquired a new position in Delek US during the second quarter worth about $501,000. Wedge Capital Management L L P NC lifted its holdings in shares of Delek US by 4.5% in the second quarter. Wedge Capital Management L L P NC now owns 23,493 shares of the oil and gas company's stock valued at $1,194,000 after purchasing an additional 1,005 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Delek US in the first quarter valued at about $290,000. Finally, Converium Capital Inc. purchased a new stake in shares of Delek US in the first quarter valued at about $9,855,000. Hedge funds and other institutional investors own 97.01% of the company's stock.

Delek US Stock Performance

Shares of DK opened at $67.14 on Tuesday. The company has a debt-to-equity ratio of 7.53, a quick ratio of 0.47 and a current ratio of 0.76. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 1.42 and a beta of 0.57. The company's 50 day simple moving average is $56.41 and its 200 day simple moving average is $46.46. Delek US Holdings, Inc. has a 1 year low of $21.09 and a 1 year high of $68.93.

Delek US (NYSE:DK - Get Free Report) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.67 by $2.81. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $3.44 billion. Delek US had a net margin of 1.86% and a return on equity of 109.03%. Delek US's revenue was up 47.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.56) earnings per share. On average, sell-side analysts predict that Delek US Holdings, Inc. will post 10.1 EPS for the current year.

Delek US Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, August 3rd. Delek US's dividend payout ratio (DPR) is presently 28.65%.

Wall Street Analysts Forecast Growth

DK has been the subject of a number of recent research reports. Morgan Stanley raised their price objective on shares of Delek US from $41.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Friday, June 12th. JPMorgan Chase & Co. upped their target price on Delek US from $57.00 to $62.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Mizuho increased their target price on Delek US from $60.00 to $66.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Zacks Research raised Delek US from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 26th. Finally, Raymond James Financial boosted their price target on Delek US from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Delek US has a consensus rating of "Hold" and a consensus target price of $52.38.

Insider Activity

In other news, Director Vicky Sutil sold 1,871 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $48.00, for a total transaction of $89,808.00. Following the transaction, the director directly owned 29,368 shares in the company, valued at $1,409,664. This represents a 5.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William J. Finnerty sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $51.50, for a total transaction of $257,500.00. Following the completion of the sale, the director directly owned 34,805 shares in the company, valued at $1,792,457.50. This represents a 12.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 13,629 shares of company stock valued at $652,685 in the last 90 days. 3.56% of the stock is owned by company insiders.

About Delek US

Delek US Holdings, Inc NYSE: DK is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.

Want to see what other hedge funds are holding DK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Delek US Holdings, Inc. (NYSE:DK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source