Delek US Holdings, Inc. $DK Stock Holdings Lessened by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. has significantly reduced its holdings in Delek US Holdings, Inc. by 55.1% during the first quarter, selling 468,695 shares and now owning approximately 0.63% of the company.
• Several analysts have increased their price targets for Delek US, with Wolfe Research setting the highest price objective at $40.00, while the company's average target price stands at $23.77.
• Delek US recently reported a quarterly revenue of $2.76 billion, exceeding estimates, but also posted a negative EPS of ($0.56), indicating challenges in profitability amidst a year-over-year revenue decline of 16.4%.

Jacobs Levy Equity Management Inc. reduced its holdings in Delek US Holdings, Inc. (NYSE:DK - Free Report) by 55.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 382,625 shares of the oil and gas company's stock after selling 468,695 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.63% of Delek US worth $5,766,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in shares of Delek US by 35.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,037,599 shares of the oil and gas company's stock worth $15,637,000 after buying an additional 270,792 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Delek US by 21.9% in the 4th quarter. Nuveen Asset Management LLC now owns 1,005,309 shares of the oil and gas company's stock worth $18,598,000 after buying an additional 180,498 shares during the last quarter. Northern Trust Corp lifted its position in shares of Delek US by 9.2% in the 1st quarter. Northern Trust Corp now owns 987,086 shares of the oil and gas company's stock worth $14,875,000 after buying an additional 83,246 shares during the last quarter. Systematic Financial Management LP lifted its position in shares of Delek US by 9.9% in the 4th quarter. Systematic Financial Management LP now owns 913,890 shares of the oil and gas company's stock worth $16,907,000 after buying an additional 82,039 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. bought a new stake in Delek US in the 1st quarter valued at about $13,728,000. 97.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on DK. Raymond James Financial lifted their price objective on shares of Delek US from $23.00 to $28.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Bank of America lifted their price objective on shares of Delek US from $14.00 to $24.00 and gave the company an "underperform" rating in a research report on Wednesday, September 3rd. Wolfe Research upgraded shares of Delek US from a "peer perform" rating to an "outperform" rating and set a $40.00 price objective on the stock in a research report on Wednesday, September 3rd. UBS Group lifted their price objective on shares of Delek US from $24.00 to $29.00 and gave the company a "neutral" rating in a research report on Tuesday, September 2nd. Finally, Scotiabank reiterated a "sector perform" rating and issued a $20.00 price objective (up from $14.00) on shares of Delek US in a research report on Friday, July 11th. Three 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. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $23.77.

Delek US Stock Down 4.0%

DK stock opened at $30.07 on Tuesday. Delek US Holdings, Inc. has a 52 week low of $11.02 and a 52 week high of $32.48. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -2.45 and a beta of 1.09. The firm's 50-day moving average is $24.41 and its two-hundred day moving average is $19.21. The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 10.48.

Delek US (NYSE:DK - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) EPS for the quarter, topping 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 earned ($0.92) EPS. Delek US's revenue was down 16.4% on a year-over-year basis. On average, analysts forecast that Delek US Holdings, Inc. will post -5.5 earnings per share for the current fiscal year.

Delek US Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were paid a $0.255 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.02 annualized dividend and a dividend yield of 3.4%. Delek US's payout ratio is currently -8.30%.

Insider Activity

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

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.

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