Comerica Bank Purchases 19,788 Shares of Delek US Holdings, Inc. $DK

Key Points

• Comerica Bank significantly increased its holdings in Delek US Holdings, Inc. by 96.3% during the 1st quarter, owning approximately 40,336 shares valued at $608,000.
• Several other institutional investors have also made substantial investments in Delek US, with CWM LLC growing its stake by 100.9% and GAMMA Investing LLC increasing its stake by 907.0% in the same period.
• Delek US posted earnings results in August, with a reported (0.56) EPS, beating expectations, but showing a 16.4% year-over-year decline in quarterly revenue.

Comerica Bank grew its position in Delek US Holdings, Inc. (NYSE:DK - Free Report) by 96.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,336 shares of the oil and gas company's stock after purchasing an additional 19,788 shares during the period. Comerica Bank owned about 0.07% of Delek US worth $608,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. CWM LLC raised its holdings in Delek US by 100.9% in the first quarter. CWM LLC now owns 2,318 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 1,164 shares during the period. Creative Financial Designs Inc. ADV acquired a new stake in Delek US in the first quarter worth $47,000. GAMMA Investing LLC raised its holdings in Delek US by 907.0% in the first quarter. GAMMA Investing LLC now owns 4,159 shares of the oil and gas company's stock worth $63,000 after purchasing an additional 3,746 shares during the period. Farther Finance Advisors LLC raised its holdings in Delek US by 77.4% in the first quarter. Farther Finance Advisors LLC now owns 7,118 shares of the oil and gas company's stock worth $110,000 after purchasing an additional 3,105 shares during the period. Finally, Net Worth Advisory Group acquired a new stake in Delek US in the first quarter worth $159,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DK shares. Citigroup reiterated a "neutral" rating and issued a $30.00 target price (up from $15.00) on shares of Delek US in a report on Wednesday, July 16th. Raymond James Financial increased their target price on shares of Delek US from $26.00 to $33.00 and gave the stock an "outperform" rating in a report on Tuesday. Piper Sandler increased their target price on shares of Delek US from $29.00 to $34.00 and gave the stock a "neutral" rating in a report on Thursday. Scotiabank reissued a "sector perform" rating and set a $20.00 price objective (up previously from $14.00) on shares of Delek US in a research report on Friday, July 11th. Finally, Cowen reissued a "sell" rating on shares of Delek US in a research report on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $24.69.

Insiders Place Their Bets

In related news, CFO Robert G. Wright sold 7,135 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $29.24, for a total value of $208,627.40. Following the completion of the transaction, the chief financial officer owned 48,294 shares of the company's stock, valued at approximately $1,412,116.56. This trade represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company's stock.

Delek US Stock Down 2.8%

Shares of DK stock traded down $0.79 during trading hours on Friday, hitting $27.88. 2,805,176 shares of the company were exchanged, compared to its average volume of 2,559,875. The business has a 50 day moving average of $24.95 and a two-hundred day moving average of $19.54. The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 10.48. Delek US Holdings, Inc. has a 52 week low of $11.02 and a 52 week high of $32.61. The company has a market capitalization of $1.68 billion, a PE ratio of -2.27 and a beta of 1.09.

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

Delek US Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 11th were given a $0.255 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.02 dividend on an annualized basis and a yield of 3.7%. Delek US's dividend payout ratio (DPR) is -8.30%.

Delek US Company 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.