Jacobs Levy Equity Management Inc. Decreases Stock Position in Delek US Holdings, Inc. $DK

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. lowered its position in shares of Delek US Holdings, Inc. (NYSE:DK - Free Report) by 55.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 382,625 shares of the oil and gas company's stock after selling 468,695 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.63% of Delek US worth $5,766,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in DK. Northern Trust Corp grew its position in Delek US by 8.0% in the 4th quarter. Northern Trust Corp now owns 903,840 shares of the oil and gas company's stock worth $16,721,000 after purchasing an additional 66,815 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Delek US in the 4th quarter worth approximately $532,000. Ameriprise Financial Inc. grew its position in Delek US by 14.4% in the 4th quarter. Ameriprise Financial Inc. now owns 792,111 shares of the oil and gas company's stock worth $14,654,000 after purchasing an additional 99,521 shares during the period. Deutsche Bank AG grew its position in Delek US by 39.2% in the 4th quarter. Deutsche Bank AG now owns 448,119 shares of the oil and gas company's stock worth $8,290,000 after purchasing an additional 126,222 shares during the period. Finally, Ellevest Inc. bought a new stake in Delek US in the 4th quarter worth approximately $209,000. Institutional investors own 97.01% of the company's stock.

Analyst Upgrades and Downgrades

DK has been the subject of a number of research analyst reports. Wolfe Research raised shares of Delek US from a "peer perform" rating to an "outperform" rating and set a $40.00 target price for the company in a research report on Wednesday, September 3rd. Bank of America boosted 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. Morgan Stanley boosted their price objective on shares of Delek US from $15.00 to $19.00 and gave the company an "underweight" rating in a research report on Wednesday, July 16th. Cowen reissued a "sell" rating on shares of Delek US in a research report on Friday, August 8th. Finally, UBS Group boosted 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. 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, Delek US has a consensus rating of "Reduce" and a consensus target price of $24.69.

Insider Buying and Selling

In other Delek US news, CFO Robert G. Wright sold 7,135 shares of the business's stock in a transaction 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 sale, the chief financial officer owned 48,294 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by insiders.

Delek US Price Performance

Shares of DK traded down $0.79 during trading hours on Friday, reaching $27.88. 2,805,176 shares of the stock traded hands, compared to its average volume of 2,559,875. 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 Holdings, Inc. has a 52-week low of $11.02 and a 52-week high of $32.61. The company's 50-day moving average price is $24.95 and its two-hundred day moving average price is $19.57. The company has a market cap of $1.68 billion, a P/E ratio of -2.27 and a beta of 1.09.

Delek US (NYSE:DK - Get Free Report) last released its earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) earnings per share 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 analysts' expectations of $2.68 billion. During the same quarter in the previous year, the company earned ($0.92) EPS. Delek US's revenue for the quarter was down 16.4% on a year-over-year basis. On average, analysts anticipate that Delek US Holdings, Inc. will post -5.5 earnings per share for the current year.

Delek US Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 11th were paid a $0.255 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.02 annualized dividend and a yield of 3.7%. Delek US's payout ratio is presently -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.