Burney Co. Takes $2.20 Million Position in Delek US Holdings, Inc. $DK

Key Points

• Burney Co. bought a new stake of 74,114 shares in Delek US valued at roughly $2.20 million, representing about 0.12% of the company.
• Company insiders have been net sellers — two EVPs sold 58,000 shares on March 4 and insiders sold 172,095 shares worth about $7.26 million over the last quarter; insiders now own 3.56% of the stock.
• Analyst views are mixed with a consensus Hold rating and an average target of $43.15 (Goldman Sachs upgraded to a Buy with a $55 target), while Delek US reported Q results of $0.44 EPS (beating estimates) but slightly missed revenue expectations.

Burney Co. acquired a new stake in shares of Delek US Holdings, Inc. (NYSE:DK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 74,114 shares of the oil and gas company's stock, valued at approximately $2,198,000. Burney Co. owned approximately 0.12% of Delek US at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Ion Asset Management Ltd. lifted its holdings in shares of Delek US by 1.8% during the 2nd quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company's stock valued at $79,296,000 after purchasing an additional 67,490 shares in the last quarter. Barclays PLC lifted its holdings in shares of Delek US by 29.4% during the 3rd quarter. Barclays PLC now owns 1,873,578 shares of the oil and gas company's stock valued at $60,460,000 after purchasing an additional 425,896 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Delek US by 40.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,474,083 shares of the oil and gas company's stock valued at $47,569,000 after purchasing an additional 423,017 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Delek US by 6,300.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,306,269 shares of the oil and gas company's stock valued at $42,153,000 after purchasing an additional 1,285,861 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new position in shares of Delek US during the 3rd quarter valued at about $23,308,000. Institutional investors own 97.01% of the company's stock.

Insider Activity at Delek US

In other news, EVP Joseph Israel sold 38,000 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $40.65, for a total transaction of $1,544,700.00. Following the sale, the executive vice president owned 55,623 shares in the company, valued at $2,261,074.95. This represents a 40.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Reuven Spiegel sold 20,000 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $42.84, for a total value of $856,800.00. Following the sale, the executive vice president owned 48,530 shares in the company, valued at approximately $2,079,025.20. This represents a 29.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 172,095 shares of company stock worth $7,257,409. Insiders own 3.56% of the company's stock.

Wall Street Analysts Forecast Growth

DK has been the topic of several recent analyst reports. Piper Sandler cut their price objective on Delek US from $47.00 to $40.00 and set a "neutral" rating on the stock in a report on Thursday, January 8th. Scotiabank upgraded Delek US to a "hold" rating in a report on Friday, March 27th. The Goldman Sachs Group upgraded Delek US from a "neutral" rating to a "buy" rating and set a $55.00 target price on the stock in a research note on Friday. TD Cowen boosted their target price on Delek US from $28.00 to $44.00 and gave the company a "hold" rating in a research note on Thursday, March 5th. Finally, Mizuho boosted their target price on Delek US from $51.00 to $54.00 and gave the company an "outperform" rating in a research note on Tuesday, March 17th. Five investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $43.15.

Delek US Trading Up 0.3%

NYSE DK opened at $41.85 on Monday. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of -119.58, a PEG ratio of 1.29 and a beta of 0.68. The stock's 50 day moving average price is $39.68 and its two-hundred day moving average price is $35.95. The company has a debt-to-equity ratio of 5.89, a quick ratio of 0.53 and a current ratio of 0.82. Delek US Holdings, Inc. has a 52 week low of $11.58 and a 52 week high of $48.32.

Delek US (NYSE:DK - Get Free Report) last released its earnings results on Friday, February 27th. The oil and gas company reported $0.44 EPS for the quarter, beating the consensus estimate of ($0.19) by $0.63. The firm had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.55 billion. Delek US had a negative return on equity of 13.55% and a negative net margin of 0.21%.The business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($2.54) EPS. As a group, analysts anticipate that Delek US Holdings, Inc. will post -5.5 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were paid a $0.255 dividend. The ex-dividend date was Monday, March 2nd. This represents a $1.02 annualized dividend and a yield of 2.4%. Delek US's payout ratio is presently -291.43%.

Delek US Profile

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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