Bank of America Corp DE Purchases Shares of 741,269 Delek US Holdings, Inc. $DK

Key Points

• Bank of America purchased 741,269 shares of Delek US Holdings worth approximately $37.7 million, giving it a 1.21% stake. Institutional investors and hedge funds collectively own 97.01% of the company.
• Delek US reported strong quarterly results, with EPS of $5.48 versus the $2.67 consensus estimate and revenue of $4.09 billion, up 47.9% year over year.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and a $65.45 average price target, while the company maintains a quarterly dividend of $0.255 per share, yielding about 1.4%.

Bank of America Corp DE bought a new stake in Delek US Holdings, Inc. (NYSE:DK - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 741,269 shares of the oil and gas company's stock, valued at approximately $37,664,000. Bank of America Corp DE owned about 1.21% of Delek US as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the stock. Freestone Grove Partners LP bought a new stake in Delek US in the second quarter valued at approximately $12,899,000. Man Group plc acquired a new stake in Delek US during the 2nd quarter valued at $1,543,000. Jupiter Topco LLC acquired a new stake in Delek US during the 2nd quarter valued at $1,401,000. Hsbc Holdings PLC bought a new position in Delek US during the second quarter worth $1,568,000. Finally, PDT Partners LLC acquired a new position in shares of Delek US in the second quarter valued at $15,667,000. 97.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DK has been the topic of a number of research reports. Zacks Research upgraded shares of Delek US from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 26th. Wells Fargo & Company boosted their price objective on Delek US from $59.00 to $82.00 and gave the stock an "overweight" rating in a report on Tuesday, September 1st. Citigroup reaffirmed a "neutral" rating on shares of Delek US in a research report on Thursday, August 6th. Raymond James Financial upped their price objective on Delek US from $72.00 to $90.00 and gave the company an "outperform" rating in a report on Monday, September 14th. Finally, TD Cowen increased their price objective on Delek US from $76.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $65.45.

Delek US Stock Down 4.9%

Shares of DK opened at $74.31 on Tuesday. The firm has a 50 day simple moving average of $68.43 and a two-hundred day simple moving average of $53.31. The company has a debt-to-equity ratio of 7.53, a current ratio of 0.76 and a quick ratio of 0.47. Delek US Holdings, Inc. has a one year low of $25.85 and a one year high of $82.27. The company has a market cap of $4.55 billion, a P/E ratio of 20.87, a P/E/G ratio of 0.39 and a beta of 0.59.

Delek US (NYSE:DK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $2.81. Delek US had a return on equity of 109.03% and a net margin of 1.86%.The company had revenue of $4.09 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same quarter last year, the company posted ($0.56) EPS. The company's revenue for the quarter was up 47.9% compared to the same quarter last year. Research analysts forecast that Delek US Holdings, Inc. will post 15.83 EPS for the current fiscal year.

Delek US Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued a $0.255 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.02 annualized dividend and a yield of 1.4%. Delek US's dividend payout ratio is presently 28.65%.

Insiders Place Their Bets

In other news, Director Gary Sullivan, Jr. sold 27,688 shares of the business's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $69.01, for a total value of $1,910,748.88. Following the transaction, the director owned 32,004 shares in the company, valued at approximately $2,208,596.04. The trade was a 46.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vicky Sutil sold 6,397 shares of the company's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $71.50, for a total transaction of $457,385.50. Following the completion of the sale, the director directly owned 26,407 shares in the company, valued at approximately $1,888,100.50. This represents a 19.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 168,377 shares of company stock valued at $11,339,985 over the last three months. Insiders own 3.56% of the company's stock.

Delek US Company Profile

Delek US Holdings, Inc NYSE: DK is a downstream energy company engaged primarily in petroleum refining, wholesale fuel marketing and logistics. The company produces transportation fuels and other refined petroleum products, including gasoline, diesel, jet fuel and asphalt.

Delek US operates refineries in the southern United States, including facilities in Texas, Arkansas and Louisiana. Its refining operations are supported by crude oil gathering, transportation, storage and other logistics activities conducted through Delek Logistics Partners, a publicly traded master limited partnership that is managed and partially owned by Delek US.

Founded in 2001 and headquartered in Brentwood, Tennessee, Delek US serves regional markets across the central and southeastern United States.

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