Delek US Holdings, Inc. $DK Shares Acquired by Comerica Bank

Key Points

• Comerica Bank increased its stake in Delek US by 66.6% in Q4, holding 75,324 shares worth about $2.23 million, while institutional investors now own roughly 97.0% of the company.
• Delek US beat quarterly expectations with EPS of $0.08 vs. a consensus of ($1.42) and $2.65 billion in revenue, and announced a quarterly dividend of $0.255 (2.1% yield).
• Analyst sentiment is mixed — MarketBeat shows an average rating of Hold and an average price target of $44.23, amid a wide range of recent upgrades and downgrades.

Comerica Bank lifted its position in Delek US Holdings, Inc. (NYSE:DK - Free Report) by 66.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 75,324 shares of the oil and gas company's stock after buying an additional 30,123 shares during the quarter. Comerica Bank owned approximately 0.13% of Delek US worth $2,234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brown Brothers Harriman & Co. acquired a new position in shares of Delek US in the third quarter valued at approximately $27,000. Focus Partners Wealth acquired a new stake in shares of Delek US in the third quarter valued at $44,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Delek US in the third quarter valued at $59,000. Contravisory Investment Management Inc. acquired a new position in Delek US during the 4th quarter worth $184,000. Finally, CIBC Bancorp USA Inc. purchased a new stake in Delek US during the 3rd quarter worth about $205,000. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on Delek US from $42.00 to $38.00 and set a "neutral" rating on the stock in a report on Thursday, January 15th. Zacks Research raised Delek US from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 29th. Wells Fargo & Company boosted their price objective on shares of Delek US from $54.00 to $59.00 and gave the company an "overweight" rating in a research note on Tuesday, March 31st. Weiss Ratings upgraded shares of Delek US from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, April 27th. Finally, TD Cowen lowered their price target on shares of Delek US from $60.00 to $44.00 and set a "hold" rating on the stock in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $44.23.

Insider Buying and Selling

In other news, EVP Denise Clark Mcwatters sold 11,988 shares of the business's stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $41.33, for a total transaction of $495,464.04. Following the completion of the sale, the executive vice president owned 74,196 shares in the company, valued at approximately $3,066,520.68. The trade was a 13.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shlomo Zohar sold 22,029 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $44.83, for a total transaction of $987,560.07. Following the completion of the sale, the director directly owned 18,989 shares of the company's stock, valued at $851,276.87. The trade was a 53.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 172,095 shares of company stock worth $7,257,409 over the last 90 days. Company insiders own 3.56% of the company's stock.

Delek US Stock Up 2.1%

DK opened at $49.05 on Wednesday. The business's fifty day simple moving average is $42.00 and its 200 day simple moving average is $36.83. The company has a quick ratio of 0.49, a current ratio of 0.76 and a debt-to-equity ratio of 10.51. The firm has a market cap of $3.01 billion, a P/E ratio of -53.91, a PEG ratio of 0.43 and a beta of 0.63. Delek US Holdings, Inc. has a 52 week low of $13.29 and a 52 week high of $49.50.

Delek US (NYSE:DK - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $1.50. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the prior year, the firm posted ($2.32) earnings per share. The company's quarterly revenue was up .4% compared to the same quarter last year. As a group, equities research analysts anticipate that Delek US Holdings, Inc. will post 3.82 EPS for the current fiscal year.

Delek US Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, May 1st will be issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, May 1st. Delek US's dividend payout ratio is presently -112.09%.

Delek US Company Profile

Delek US Holdings, Inc NYSE: DK is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.

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