Delek US Holdings, Inc. $DK is Ion Asset Management Ltd.'s 6th Largest Position

Key Points

• Ion Asset Management Ltd. increased its stake in Delek US Holdings by 6.4%, now owning 3,676,400 shares valued at $55.4 million, making this investment their 6th largest holding.
• Delek US recently announced a quarterly dividend of $0.255 per share, translating to an annual yield of 3.2% for shareholders.
• Despite reporting a loss of ($0.56) earnings per share, Delek US had a revenue of $2.76 billion for the quarter, surpassing analyst estimates of $2.68 billion.

Ion Asset Management Ltd. boosted its position in Delek US Holdings, Inc. (NYSE:DK - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,676,400 shares of the oil and gas company's stock after purchasing an additional 221,400 shares during the period. Delek US comprises approximately 3.6% of Ion Asset Management Ltd.'s portfolio, making the stock its 6th biggest holding. Ion Asset Management Ltd. owned 6.05% of Delek US worth $55,403,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Rafferty Asset Management LLC boosted its holdings in shares of 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 worth $2,122,000 after acquiring an additional 797 shares during the period. CWM LLC boosted its holdings in shares of 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 acquiring an additional 1,164 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Delek US by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,088 shares of the oil and gas company's stock worth $668,000 after acquiring an additional 1,227 shares during the period. Abel Hall LLC boosted its holdings in shares of Delek US by 26.3% in the first quarter. Abel Hall LLC now owns 13,384 shares of the oil and gas company's stock worth $202,000 after acquiring an additional 2,790 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Delek US by 16.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,306 shares of the oil and gas company's stock worth $306,000 after acquiring an additional 2,918 shares during the period. Hedge funds and other institutional investors own 97.01% of the company's stock.

Delek US Price Performance

DK traded down $0.63 during trading on Friday, reaching $31.29. The stock had a trading volume of 1,803,794 shares, compared to its average volume of 2,270,201. The stock has a market cap of $1.88 billion, a PE ratio of -2.55 and a beta of 1.09. The company has a debt-to-equity ratio of 10.48, a quick ratio of 0.50 and a current ratio of 0.80. Delek US Holdings, Inc. has a one year low of $11.02 and a one year high of $32.48. The business has a 50-day moving average of $24.23 and a 200-day moving average of $19.12.

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

Delek US Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors 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 yield of 3.3%. The ex-dividend date was Monday, August 11th. Delek US's payout ratio is currently -8.30%.

Insiders Place Their Bets

In other Delek US news, CFO Robert G. Wright sold 7,135 shares of Delek US stock in a transaction that occurred 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 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 can be accessed through this link. Insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Morgan Stanley increased their price objective on Delek US from $15.00 to $19.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 16th. Piper Sandler increased their price objective on Delek US from $17.00 to $27.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. TD Cowen lowered their price objective on Delek US from $18.00 to $15.00 and set a "sell" rating on the stock in a research report on Friday, August 8th. Mizuho raised Delek US from a "neutral" rating to an "outperform" rating and increased their target price for the company from $22.00 to $23.00 in a research note on Tuesday, May 13th. Finally, Raymond James Financial increased their target price on Delek US from $23.00 to $28.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Three 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 company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $23.77.

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.