Cetera Investment Advisers Makes New Investment in Delek US Holdings, Inc. $DK

Key Points

• Cetara Investment Advisers has invested $191,000 in Delek US Holdings, acquiring a total of 12,687 shares in the first quarter of 2023.
• The company reported a quarterly earnings loss of ($0.56) per share, beating estimates but experiencing a 16.4% decline in revenue year-over-year.
• Delek US announced a quarterly dividend of $0.255 per share, yielding 4.2%, with a payout ratio of -8.30%.

Cetera Investment Advisers bought a new position in shares of Delek US Holdings, Inc. (NYSE:DK - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 12,687 shares of the oil and gas company's stock, valued at approximately $191,000.

A number of other institutional investors and hedge funds also recently modified their holdings of DK. Rafferty Asset Management LLC grew its stake in Delek US by 0.7% in the fourth quarter. Rafferty Asset Management LLC now owns 114,701 shares of the oil and gas company's stock valued at $2,122,000 after acquiring an additional 797 shares during the period. CWM LLC grew its position in shares of Delek US by 100.9% in the 1st quarter. CWM LLC now owns 2,318 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 1,164 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Delek US by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,088 shares of the oil and gas company's stock valued at $668,000 after purchasing an additional 1,227 shares during the period. Sterling Capital Management LLC increased its stake in Delek US by 728.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,491 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 1,311 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in Delek US by 11.2% during the 4th quarter. XTX Topco Ltd now owns 14,122 shares of the oil and gas company's stock worth $261,000 after buying an additional 1,418 shares during the period. 97.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DK shares. Wells Fargo & Company upped their price target on shares of Delek US from $11.00 to $15.00 and gave the company an "underweight" rating in a report on Wednesday, June 11th. Cowen reiterated a "sell" rating on shares of Delek US in a report on Friday, August 8th. Raymond James Financial lifted their price target on Delek US from $23.00 to $28.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Morgan Stanley boosted their price target on Delek US from $15.00 to $19.00 and gave the company an "underweight" rating in a report on Wednesday, July 16th. Finally, Piper Sandler increased their price objective on Delek US from $17.00 to $27.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, Delek US currently has an average rating of "Reduce" and a consensus price target of $20.35.

Delek US Price Performance

Shares of NYSE DK traded up $1.3950 during mid-day trading on Monday, hitting $25.8650. The company had a trading volume of 2,685,079 shares, compared to its average volume of 2,221,121. Delek US Holdings, Inc. has a one year low of $11.02 and a one year high of $27.07. The company has a debt-to-equity ratio of 10.48, a current ratio of 0.80 and a quick ratio of 0.50. The firm has a 50-day simple moving average of $22.85 and a two-hundred day simple moving average of $18.44.

Delek US (NYSE:DK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.36. The firm had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.68 billion. Delek US had a negative return on equity of 79.27% and a negative net margin of 7.11%.The business's quarterly revenue was down 16.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.92) earnings per share. Sell-side analysts expect that Delek US Holdings, Inc. will post -5.5 EPS for the current year.

Delek US Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 11th were given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Monday, August 11th. Delek US's dividend payout ratio is -8.30%.

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.