Clear Harbor Asset Management LLC Sells 11,475 Shares of Delek US Holdings, Inc. $DK

Key Points

• Clear Harbor Asset Management LLC reduced its stake in Delek US Holdings, Inc. by 26.6%, selling 11,475 shares and holding a total of 31,625 shares valued at approximately $670,000.
• Despite some institutional sales, several hedge funds, including MIRAE ASSET GLOBAL ETFS HOLDINGS and CWM LLC, have increased their holdings in Delek US during the first quarter of the year.
• Delek US announced a quarterly dividend of $0.255 per share, which translates to a 3.2% dividend yield, despite having a negative payout ratio.

Clear Harbor Asset Management LLC reduced its stake in shares of Delek US Holdings, Inc. (NYSE:DK - Free Report) by 26.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,625 shares of the oil and gas company's stock after selling 11,475 shares during the period. Clear Harbor Asset Management LLC owned about 0.05% of Delek US worth $670,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Delek US by 3.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,190 shares of the oil and gas company's stock worth $560,000 after buying an additional 1,102 shares during the period. CWM LLC boosted its holdings in Delek US by 100.9% in the 1st quarter. CWM LLC now owns 2,318 shares of the oil and gas company's stock worth $35,000 after buying an additional 1,164 shares during the period. Abel Hall LLC boosted its holdings in Delek US by 26.3% in the 1st quarter. Abel Hall LLC now owns 13,384 shares of the oil and gas company's stock worth $202,000 after buying an additional 2,790 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Delek US by 16.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,306 shares of the oil and gas company's stock worth $306,000 after buying an additional 2,918 shares during the period. Finally, Creative Financial Designs Inc. ADV bought a new position in Delek US in the 1st quarter worth approximately $47,000. 97.01% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Robert G. Wright sold 7,135 shares of Delek US stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $29.24, for a total transaction of $208,627.40. Following the completion of the sale, the chief financial officer directly owned 48,294 shares of the company's stock, valued at approximately $1,412,116.56. The trade was a 12.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.90% of the company's stock.

Delek US Stock Up 3.5%

Shares of NYSE:DK opened at $32.38 on Tuesday. The firm has a fifty day moving average price of $25.66 and a two-hundred day moving average price of $20.26. The company has a debt-to-equity ratio of 10.48, a current ratio of 0.80 and a quick ratio of 0.50. Delek US Holdings, Inc. has a one year low of $11.02 and a one year high of $32.76. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -2.63 and a beta of 1.09.

Delek US (NYSE:DK - Get Free Report) last announced 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. Delek US had a negative net margin of 7.11% and a negative return on equity of 79.27%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same period last year, the firm earned ($0.92) EPS. The business's quarterly revenue was down 16.4% compared to the same quarter last year. Analysts anticipate that Delek US Holdings, Inc. will post -5.5 EPS for the current fiscal year.

Delek US Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, August 11th. Delek US's payout ratio is currently -8.30%.

Analysts Set New Price Targets

Several research firms recently commented on DK. UBS Group raised their price objective on shares of Delek US from $24.00 to $29.00 and gave the stock a "neutral" rating in a report on Tuesday, September 2nd. Cowen raised shares of Delek US from a "sell" rating to a "hold" rating in a report on Friday. Citigroup reaffirmed a "neutral" rating and issued a $30.00 price objective (up from $15.00) on shares of Delek US in a report on Wednesday, July 16th. Raymond James Financial raised their price objective on shares of Delek US from $26.00 to $33.00 and gave the stock an "outperform" rating in a report on Tuesday, September 9th. Finally, Morgan Stanley raised their price objective on shares of Delek US from $15.00 to $19.00 and gave the stock an "underweight" rating in a report on Wednesday, July 16th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $26.54.

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.

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