Bank of New York Mellon Corp Raises Holdings in Delek US Holdings, Inc. (NYSE:DK)

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

Other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC lifted its holdings in shares of Delek US by 728.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,491 shares of the oil and gas company's stock valued at $28,000 after purchasing an additional 1,311 shares during the last quarter. Creative Financial Designs Inc. ADV purchased a new stake in shares of Delek US in the 1st quarter valued at about $47,000. GAMMA Investing LLC lifted its holdings in shares of Delek US by 907.0% in the 1st quarter. GAMMA Investing LLC now owns 4,159 shares of the oil and gas company's stock valued at $63,000 after purchasing an additional 3,746 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Delek US by 77.4% in the 1st quarter. Farther Finance Advisors LLC now owns 7,118 shares of the oil and gas company's stock valued at $110,000 after purchasing an additional 3,105 shares during the last quarter. Finally, Net Worth Advisory Group purchased a new stake in Delek US during the 1st quarter valued at approximately $159,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on DK shares. Citigroup reiterated a "neutral" rating and set a $30.00 target price (up previously from $15.00) on shares of Delek US in a research report on Wednesday, July 16th. UBS Group dropped their target price on Delek US from $21.00 to $13.25 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Piper Sandler boosted their target price on Delek US from $17.00 to $27.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Mizuho upgraded shares of Delek US from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $22.00 to $23.00 in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company raised their price objective on shares of Delek US from $11.00 to $15.00 and gave the company an "underweight" rating in a research note on Wednesday, June 11th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $20.60.

Delek US Price Performance

DK stock traded down $0.33 on Tuesday, reaching $23.02. The company had a trading volume of 64,408 shares, compared to its average volume of 1,592,380. Delek US Holdings, Inc. has a 1 year low of $11.02 and a 1 year high of $27.07. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.53 and a current ratio of 0.85. The company's fifty day moving average is $21.79 and its 200 day moving average is $17.99. The company has a market cap of $1.40 billion, a P/E ratio of -2.08 and a beta of 0.98.

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

About Delek US

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.