Lansforsakringar Fondforvaltning AB publ Decreases Stock Position in Delek US Holdings, Inc. $DK

Key Points

• Lansforsakringar Fondforvaltning AB publ decreased its holdings in Delek US Holdings by 29.1%, selling 62,588 shares during the 1st quarter, leaving them with a total of 152,636 shares valued at $2.3 million.
• Several institutional investors, including CWM LLC and Rafferty Asset Management, have increased their stakes in Delek US, indicating a mixed sentiment in market confidence.
• In terms of analyst ratings, Delek US has received two Buy ratings, seven Hold ratings, and five Sell ratings, with a consensus target price of $20.35.

Lansforsakringar Fondforvaltning AB publ reduced its stake in Delek US Holdings, Inc. (NYSE:DK - Free Report) by 29.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 152,636 shares of the oil and gas company's stock after selling 62,588 shares during the quarter. Lansforsakringar Fondforvaltning AB publ owned approximately 0.25% of Delek US worth $2,300,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DK. CWM LLC increased its position in shares of Delek US by 100.9% during the 1st quarter. CWM LLC now owns 2,318 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 1,164 shares during the last quarter. Creative Financial Designs Inc. ADV purchased a new stake in shares of Delek US in the first quarter worth $47,000. GAMMA Investing LLC boosted its position in shares of Delek US by 907.0% during the 1st quarter. GAMMA Investing LLC now owns 4,159 shares of the oil and gas company's stock valued at $63,000 after acquiring an additional 3,746 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Delek US by 77.4% during the 1st quarter. Farther Finance Advisors LLC now owns 7,118 shares of the oil and gas company's stock worth $110,000 after acquiring an additional 3,105 shares during the last quarter. Finally, Net Worth Advisory Group bought a new position in shares of Delek US during the 1st quarter valued at about $159,000. Institutional investors own 97.01% of the company's stock.

Analysts Set New Price Targets

DK has been the topic of several analyst reports. Bank of America lifted their price objective on Delek US from $14.00 to $24.00 and gave the stock an "underperform" rating in a report on Wednesday. Piper Sandler raised their price target on shares of Delek US from $17.00 to $27.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Raymond James Financial increased their target price on shares of Delek US from $23.00 to $28.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Morgan Stanley raised their target price on Delek US from $15.00 to $19.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 16th. Finally, UBS Group upped their target price on Delek US from $24.00 to $29.00 and gave the stock a "neutral" rating in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $23.77.

Insider Activity at Delek US

In related news, CFO Robert G. Wright sold 7,135 shares of the company's stock in a transaction dated 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 sale, the chief financial officer directly owned 48,294 shares of the company's stock, valued at $1,412,116.56. This represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.80% of the company's stock.

Delek US Price Performance

Shares of DK traded down $0.63 during trading hours on Friday, reaching $31.29. 1,337,264 shares of the stock traded hands, compared to its average volume of 1,707,678. The company has a market cap of $1.88 billion, a P/E ratio of -2.55 and a beta of 1.09. The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 10.48. The company's 50-day moving average price is $24.03 and its two-hundred day moving average price is $19.01. Delek US Holdings, Inc. has a 52-week low of $11.02 and a 52-week high of $32.48.

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) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the previous year, the firm posted ($0.92) EPS. Delek US's revenue for the quarter was down 16.4% compared to the same quarter last year. On average, analysts anticipate that Delek US Holdings, Inc. will post -5.5 earnings per share for the current year.

Delek US Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were given a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.3%. 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.