Coppell Advisory Solutions LLC Cuts Holdings in Delek US Holdings, Inc. $DK

Key Points

• Coppell Advisory Solutions LLC significantly reduced its holdings in Delek US Holdings, Inc. by 91.1%, now owning 10,959 shares valued at $165,000 as of the latest SEC filing.
• Delek US recently reported quarterly earnings of ($0.56) per share, which exceeded expectations yet indicated a 16.4% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.255 per share with a yield of 3.2%, despite having a negative dividend payout ratio of -8.30%.

Coppell Advisory Solutions LLC decreased its holdings in shares of Delek US Holdings, Inc. (NYSE:DK - Free Report) by 91.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,959 shares of the oil and gas company's stock after selling 112,356 shares during the period. Coppell Advisory Solutions LLC's holdings in Delek US were worth $165,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DK. T. Rowe Price Investment Management Inc. bought a new position in Delek US during the 1st quarter valued at approximately $13,728,000. Nuveen LLC bought a new position in Delek US during the 1st quarter valued at approximately $13,629,000. Millennium Management LLC grew its holdings in shares of Delek US by 1,199.2% during the 4th quarter. Millennium Management LLC now owns 870,257 shares of the oil and gas company's stock worth $16,100,000 after acquiring an additional 803,274 shares during the period. Callodine Capital Management LP grew its holdings in shares of Delek US by 1,827.6% during the 1st quarter. Callodine Capital Management LP now owns 674,661 shares of the oil and gas company's stock worth $10,167,000 after acquiring an additional 639,661 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Delek US by 238.1% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 750,319 shares of the oil and gas company's stock worth $11,307,000 after acquiring an additional 528,400 shares during the period. Institutional investors own 97.01% of the company's stock.

Delek US Stock Up 2.7%

Shares of Delek US stock traded up $0.76 during midday trading on Monday, hitting $28.66. The company had a trading volume of 624,371 shares, compared to its average volume of 1,730,324. The company has a debt-to-equity ratio of 10.48, a quick ratio of 0.50 and a current ratio of 0.80. The stock has a market capitalization of $1.72 billion, a P/E ratio of -2.34 and a beta of 1.09. The company has a 50 day moving average of $24.95 and a 200 day moving average of $19.60. Delek US Holdings, Inc. has a 52-week low of $11.02 and a 52-week high of $32.61.

Delek US (NYSE:DK - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.36. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.68 billion. Delek US had a negative return on equity of 79.27% and a negative net margin of 7.11%.The firm's quarterly revenue was down 16.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.92) EPS. On average, equities analysts predict 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. Shareholders of record on Monday, August 11th were paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, August 11th. Delek US's dividend payout ratio (DPR) is currently -8.30%.

Insider Buying and Selling

In other Delek US news, CFO Robert G. Wright sold 7,135 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $29.24, for a total transaction of $208,627.40. Following the sale, the chief financial officer directly owned 48,294 shares in the company, valued at approximately $1,412,116.56. This trade represents a 12.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on DK shares. The Goldman Sachs Group upped their target price on Delek US from $15.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Morgan Stanley upped their target price on Delek US from $15.00 to $19.00 and gave the stock an "underweight" rating in a report on Wednesday, July 16th. Citigroup reiterated a "neutral" rating and set a $30.00 target price (up previously from $15.00) on shares of Delek US in a report on Wednesday, July 16th. Bank of America upped their target price on Delek US from $14.00 to $24.00 and gave the stock an "underperform" rating in a report on Wednesday, September 3rd. Finally, Piper Sandler upped their target price on Delek US from $29.00 to $34.00 and gave the stock a "neutral" rating in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, Delek US has an average rating of "Reduce" and an average target price of $24.69.

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.