Delek US Holdings, Inc. (NYSE:DK) Shares Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon Corp increased its stake in Delek US Holdings by 20.8%, acquiring an additional 50,825 shares, bringing its total ownership to approximately 0.47% valued at $4.46 million.
• Numerous institutional investors such as Harel Insurance and Manning & Napier have also significantly increased their positions in Delek US, indicating strong interest among institutional investors.
• Analysts have set varied price targets for Delek US, with Mizuho raising their target from $22 to $23, while Wells Fargo and Morgan Stanley have set lower targets between $15 and $19.

Bank of New York Mellon Corp boosted its stake in shares of Delek US Holdings, Inc. (NYSE:DK - Free Report) by 20.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 295,727 shares of the oil and gas company's stock after buying an additional 50,825 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.47% of Delek US worth $4,457,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in DK. Millennium Management LLC raised its stake in Delek US by 1,199.2% in the fourth quarter. Millennium Management LLC now owns 870,257 shares of the oil and gas company's stock valued at $16,100,000 after purchasing an additional 803,274 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new position in shares of Delek US in the fourth quarter worth $13,680,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Delek US by 238.1% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 750,319 shares of the oil and gas company's stock worth $11,307,000 after buying an additional 528,400 shares during the period. Ion Asset Management Ltd. increased its position in Delek US by 16.5% during the 4th quarter. Ion Asset Management Ltd. now owns 3,455,000 shares of the oil and gas company's stock valued at $63,918,000 after purchasing an additional 488,509 shares during the period. Finally, Norges Bank purchased a new position in Delek US during the 4th quarter valued at $6,815,000. Institutional investors own 97.01% of the company's stock.

Delek US Stock Up 0.4%

Shares of DK stock traded up $0.09 during trading hours on Friday, reaching $22.68. 2,176,160 shares of the company's stock were exchanged, compared to its average volume of 1,702,387. Delek US Holdings, Inc. has a 1 year low of $11.02 and a 1 year high of $27.07. The stock has a market cap of $1.38 billion, a PE ratio of -2.04 and a beta of 0.98. The company has a current ratio of 0.85, a quick ratio of 0.53 and a debt-to-equity ratio of 7.05. The stock's fifty day moving average price is $21.69 and its two-hundred day moving average price is $17.97.

Delek US (NYSE:DK - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported ($2.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.27) by ($0.05). Delek US had a negative net margin of 6.10% and a negative return on equity of 63.88%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period in the previous year, the firm posted ($0.41) earnings per share. The company's revenue was down 18.1% compared to the same quarter last year. Research analysts predict that Delek US Holdings, Inc. will post -5.5 EPS for the current year.

Delek US Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 12th were issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 4.50%. The ex-dividend date was Monday, May 12th. Delek US's payout ratio is presently -9.18%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on DK shares. Morgan Stanley boosted their target price on shares of Delek US from $15.00 to $19.00 and gave the company an "underweight" rating in a report on Wednesday, July 16th. UBS Group reduced their price target on shares of Delek US from $21.00 to $13.25 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Raymond James Financial increased their target price on shares of Delek US from $23.00 to $28.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Mizuho upgraded Delek US from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $22.00 to $23.00 in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company upped their price target on Delek US from $11.00 to $15.00 and gave the stock an "underweight" rating in a research note on Wednesday, June 11th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $20.60.

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.