Bank of America Corp DE Raises Stock Position in Delek US Holdings, Inc. $DK

Key Points

• Bank of America more than doubled its Delek US stake in the first quarter, acquiring 458,004 additional shares to own 846,204 shares valued at approximately $38.1 million, or 1.38% of the company.
• Institutional investors own about 97% of Delek US, while company insiders have sold 28,550 shares worth roughly $1.32 million over the past 90 days.
• Delek US reported strong quarterly results, with EPS of $5.48 beating estimates of $2.67 and revenue rising 47.9% year over year to $4.09 billion. Analysts have raised several price targets, but the consensus rating remains “Hold” with a $52.38 target price.

Bank of America Corp DE lifted its stake in shares of Delek US Holdings, Inc. (NYSE:DK - Free Report) by 118.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 846,204 shares of the oil and gas company's stock after buying an additional 458,004 shares during the quarter. Bank of America Corp DE owned about 1.38% of Delek US worth $38,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. bought a new position in shares of Delek US in the 3rd quarter worth about $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Delek US by 95.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company's stock valued at $26,000 after purchasing an additional 432 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Delek US by 173.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company's stock valued at $29,000 after acquiring an additional 614 shares during the period. Torren Management LLC bought a new position in Delek US during the fourth quarter valued at approximately $40,000. Finally, Focus Partners Wealth purchased a new position in shares of Delek US in the 3rd quarter worth $44,000. Institutional investors own 97.01% of the company's stock.

Insider Transactions at Delek US

In other Delek US news, Director Vicky Sutil sold 3,061 shares of Delek US stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $46.00, for a total value of $140,806.00. Following the sale, the director owned 31,239 shares of the company's stock, valued at $1,436,994. The trade was a 8.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Laurie Z. Tolson sold 4,921 shares of the company's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $46.30, for a total value of $227,842.30. Following the sale, the director directly owned 18,226 shares in the company, valued at $843,863.80. This trade represents a 21.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 28,550 shares of company stock worth $1,324,128. 3.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

DK has been the subject of several recent research reports. Zacks Research upgraded shares of Delek US from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 26th. The Goldman Sachs Group increased their price objective on shares of Delek US from $58.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, July 17th. Morgan Stanley raised their price objective on shares of Delek US from $41.00 to $45.00 and gave the company an "equal weight" rating in a research report on Friday, June 12th. Raymond James Financial lifted their target price on shares of Delek US from $60.00 to $70.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. Finally, Mizuho upped their target price on shares of Delek US from $60.00 to $66.00 and gave the stock an "outperform" rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Delek US presently has a consensus rating of "Hold" and a consensus target price of $52.38.

Delek US Stock Up 1.5%

Shares of DK stock opened at $68.22 on Friday. The stock has a market cap of $4.18 billion, a P/E ratio of 19.16, a PEG ratio of 1.65 and a beta of 0.57. Delek US Holdings, Inc. has a 52 week low of $20.65 and a 52 week high of $68.93. The company has a quick ratio of 0.47, a current ratio of 0.76 and a debt-to-equity ratio of 7.53. The company's fifty day simple moving average is $55.69 and its two-hundred day simple moving average is $45.92.

Delek US (NYSE:DK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share for the quarter, beating analysts' consensus estimates of $2.67 by $2.81. Delek US had a return on equity of 109.03% and a net margin of 1.86%.The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same quarter last year, the business posted ($0.56) earnings per share. The business's quarterly revenue was up 47.9% compared to the same quarter last year. Analysts predict that Delek US Holdings, Inc. will post 8.95 EPS for the current fiscal year.

Delek US Announces Dividend

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

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.

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