Delek US Holdings, Inc. $DK Shares Sold by River Road Asset Management LLC

Key Points

• River Road Asset Management reduced its Delek US stake by 25.3% in the fourth quarter, selling 860,940 shares and leaving it with 2.55 million shares worth about $75.6 million.
• Insiders also sold shares: EVP Reuven Spiegel and EVP Robert G. Wright each trimmed their holdings in May, and insiders have sold 34,270 shares over the past three months.
• Analyst views are mixed, with recent upgrades and downgrades leaving Delek US at an average “Hold” rating and a consensus price target of $45.00; the stock last traded at $41.50 after the company beat quarterly earnings expectations.

River Road Asset Management LLC cut its holdings in Delek US Holdings, Inc. (NYSE:DK - Free Report) by 25.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,547,919 shares of the oil and gas company's stock after selling 860,940 shares during the quarter. River Road Asset Management LLC owned about 4.24% of Delek US worth $75,571,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd grew its stake in shares of Delek US by 95.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 432 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Delek US during the third quarter valued at approximately $27,000. EverSource Wealth Advisors LLC lifted its stake in Delek US by 173.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company's stock valued at $29,000 after purchasing an additional 614 shares during the last quarter. Torren Management LLC bought a new stake in Delek US during the fourth quarter worth approximately $40,000. Finally, Focus Partners Wealth bought a new stake in Delek US during the third quarter worth approximately $44,000. 97.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Delek US news, EVP Reuven Spiegel sold 10,000 shares of the firm's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $44.36, for a total transaction of $443,600.00. Following the completion of the sale, the executive vice president directly owned 48,372 shares in the company, valued at approximately $2,145,781.92. This trade represents a 17.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Robert G. Wright sold 10,720 shares of Delek US stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $47.07, for a total value of $504,590.40. Following the transaction, the executive vice president directly owned 48,148 shares in the company, valued at approximately $2,266,326.36. This trade represents a 18.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 34,270 shares of company stock worth $1,571,218. 3.56% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on DK shares. Weiss Ratings cut Delek US from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, May 11th. Wall Street Zen raised Delek US from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 18th. The Goldman Sachs Group upgraded Delek US from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $43.00 to $55.00 in a report on Friday, April 10th. Wells Fargo & Company boosted their target price on Delek US from $54.00 to $59.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 31st. Finally, Zacks Research downgraded Delek US from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 28th. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Delek US presently has an average rating of "Hold" and an average target price of $45.00.

Delek US Stock Down 2.0%

DK stock opened at $41.50 on Friday. The company's 50 day simple moving average is $43.87 and its 200-day simple moving average is $38.39. Delek US Holdings, Inc. has a 52-week low of $19.81 and a 52-week high of $50.33. The company has a debt-to-equity ratio of 10.51, a current ratio of 0.76 and a quick ratio of 0.49. The firm has a market capitalization of $2.54 billion, a P/E ratio of -45.60, a P/E/G ratio of 0.27 and a beta of 0.60.

Delek US (NYSE:DK - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.08 earnings per share for the quarter, topping 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 firm had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.33 billion. During the same period in the previous year, the company posted ($2.32) EPS. 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 5.26 EPS for the current year.

Delek US Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, May 1st were issued a dividend of $0.255 per share. The ex-dividend date was Friday, May 1st. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.5%. Delek US's payout ratio is currently -112.09%.

About Delek US

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.

Want to see what other hedge funds are holding DK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Delek US Holdings, Inc. (NYSE:DK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.