Calamos Advisors LLC Makes New $1.20 Million Investment in Delek US Holdings, Inc. $DK

Key Points

• Calamos Advisors initiated a position in Delek US, buying 16,775 shares valued at approximately $1.20 million. Institutional investors and hedge funds hold about 97% of the company’s stock.
• Delek US reported quarterly earnings of $13.55 per share, exceeding the $8.05 analyst consensus, while revenue rose 52.1% year over year to $4.39 billion. The company also increased its quarterly dividend from $0.255 to $0.30 per share.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $77.58; meanwhile, company insiders sold 163,377 shares worth about $11.1 million over the past 90 days.

Calamos Advisors LLC bought a new position in Delek US Holdings, Inc. (NYSE:DK - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 16,775 shares of the oil and gas company's stock, valued at approximately $1,197,000.

Several other large investors have also recently bought and sold shares of DK. Allworth Financial LP bought a new position in Delek US in the second quarter valued at about $30,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Delek US during the 3rd quarter worth approximately $38,000. Fortitude Family Office LLC raised its stake in shares of Delek US by 223.7% during the third quarter. Fortitude Family Office LLC now owns 547 shares of the oil and gas company's stock worth $39,000 after buying an additional 378 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Delek US by 842.7% during the third quarter. IFP Advisors Inc now owns 707 shares of the oil and gas company's stock worth $50,000 after buying an additional 632 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Delek US by 1,327.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,955 shares of the oil and gas company's stock worth $58,000 after buying an additional 1,818 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DK shares. The Goldman Sachs Group raised their price objective on shares of Delek US from $83.00 to $97.00 and gave the company a "buy" rating in a research note on Thursday, October 15th. Citigroup upped their target price on shares of Delek US from $62.00 to $70.00 and gave the company a "neutral" rating in a research report on Monday. Piper Sandler started coverage on Delek US in a research note on Tuesday, October 27th. They issued a "neutral" rating and a $90.00 price target on the stock. Freedom Broker assumed coverage on Delek US in a research report on Wednesday, October 7th. They issued a "hold" rating and a $86.00 price target on the stock. Finally, Weiss Ratings upgraded Delek US from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $77.58.

Insiders Place Their Bets

In other news, Director Vicky Sutil sold 6,397 shares of Delek US stock in a transaction on Friday, September 4th. The stock was sold at an average price of $71.50, for a total transaction of $457,385.50. Following the completion of the sale, the director owned 26,407 shares of the company's stock, valued at approximately $1,888,100.50. This trade represents a 19.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Avigal Soreq sold 80,000 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $66.51, for a total transaction of $5,320,800.00. Following the completion of the sale, the chief executive officer directly owned 231,486 shares of the company's stock, valued at $15,396,133.86. This represents a 25.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 163,377 shares of company stock worth $11,082,485 in the last 90 days. Corporate insiders own 3.56% of the company's stock.

Delek US Stock Performance

Shares of Delek US stock opened at $64.94 on Tuesday. Delek US Holdings, Inc. has a one year low of $25.85 and a one year high of $82.27. The stock's 50-day moving average is $73.54 and its 200-day moving average is $53.94. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 0.48 and a beta of 0.61. 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 (NYSE:DK - Get Free Report) last released its earnings results on Friday, November 6th. The oil and gas company reported $13.55 earnings per share for the quarter, beating analysts' consensus estimates of $8.05 by $5.50. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter last year, the firm earned $7.13 earnings per share. The firm's revenue for the quarter was up 52.1% compared to the same quarter last year. Equities analysts predict that Delek US Holdings, Inc. will post 18.62 earnings per share for the current fiscal year.

Delek US Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Investors of record on Tuesday, November 10th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, November 10th. This is a boost from Delek US's previous quarterly dividend of $0.2550. Delek US's payout ratio is presently 5.41%.

About Delek US

Delek US Holdings, Inc is an independent downstream energy company focused on petroleum refining and related logistics in the southern United States. Its refining operations are located in Texas, Arkansas and Louisiana, where it processes crude oil into transportation fuels and other petroleum products.

Products from Delek US refineries include gasoline, diesel, jet fuel, asphalt and petroleum coke. The company also markets refined products to customers and operates midstream assets, including pipelines, terminals and storage facilities, through its subsidiary Delek Logistics Partners.

Founded in 2001, Delek US has grown through acquisitions and investments in refining and energy infrastructure.

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