Delek US Holdings, Inc. $DK Stock Position Raised by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. more than doubled its stake in Delek US in Q3, increasing holdings by 102% to 241,391 shares (about 0.40% ownership), adding roughly 121,910 shares valued at $7.79 million.
• Insider selling has been notable recently — insiders sold 172,095 shares worth $7.26 million in the last three months, leaving insiders with 3.56% ownership.
• Recent performance and payout: Delek US beat EPS estimates with $0.44 for the quarter while revenue slightly missed, announced a $0.255 quarterly dividend (annualized $1.02, ~2.2% yield), and carries a consensus "Hold" rating with an average price target of $41.

JPMorgan Chase & Co. increased its position in Delek US Holdings, Inc. (NYSE:DK - Free Report) by 102.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 241,391 shares of the oil and gas company's stock after purchasing an additional 121,910 shares during the period. JPMorgan Chase & Co. owned about 0.40% of Delek US worth $7,790,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ion Asset Management Ltd. lifted its holdings in shares of Delek US by 1.8% in the second quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company's stock valued at $79,296,000 after purchasing an additional 67,490 shares in the last quarter. Barclays PLC raised its position in Delek US by 29.4% during the third quarter. Barclays PLC now owns 1,873,578 shares of the oil and gas company's stock valued at $60,460,000 after buying an additional 425,896 shares during the period. Allianz Asset Management GmbH lifted its stake in Delek US by 40.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,474,083 shares of the oil and gas company's stock worth $47,569,000 after acquiring an additional 423,017 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Delek US by 6,300.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,306,269 shares of the oil and gas company's stock worth $42,153,000 after acquiring an additional 1,285,861 shares in the last quarter. Finally, Systematic Financial Management LP boosted its position in Delek US by 0.3% during the 2nd quarter. Systematic Financial Management LP now owns 914,458 shares of the oil and gas company's stock worth $19,368,000 after acquiring an additional 3,026 shares during the period. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Delek US

In related news, Director Shlomo Zohar sold 7,343 shares of the firm's stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $46.00, for a total value of $337,778.00. Following the transaction, the director directly owned 6,646 shares of the company's stock, valued at approximately $305,716. This trade represents a 52.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph Israel sold 38,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $40.65, for a total value of $1,544,700.00. Following the completion of the transaction, the executive vice president directly owned 55,623 shares in the company, valued at $2,261,074.95. The trade was a 40.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 172,095 shares of company stock valued at $7,257,409 in the last three months. 3.56% of the stock is currently owned by company insiders.

Delek US Trading Down 3.8%

Shares of NYSE DK opened at $45.64 on Tuesday. The business has a 50 day simple moving average of $36.85 and a 200 day simple moving average of $35.14. Delek US Holdings, Inc. has a 52 week low of $11.02 and a 52 week high of $48.32. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -130.40, a PEG ratio of 1.47 and a beta of 0.75. The company has a debt-to-equity ratio of 5.89, a quick ratio of 0.53 and a current ratio of 0.82.

Delek US (NYSE:DK - Get Free Report) last issued its quarterly earnings data on Friday, February 27th. The oil and gas company reported $0.44 earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.63. Delek US had a negative net margin of 0.21% and a negative return on equity of 13.55%. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the firm earned ($2.54) earnings per share. The company's revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts predict 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, March 9th. Investors of record on Monday, March 2nd were issued a $0.255 dividend. The ex-dividend date was Monday, March 2nd. This represents a $1.02 dividend on an annualized basis and a yield of 2.2%. Delek US's dividend payout ratio is currently -291.43%.

Wall Street Analyst Weigh In

DK has been the topic of several research analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Delek US in a research note on Wednesday, January 21st. Citigroup decreased their price target on shares of Delek US from $37.00 to $33.00 and set a "neutral" rating for the company in a report on Monday, January 26th. Mizuho boosted their price objective on shares of Delek US from $51.00 to $54.00 and gave the company an "outperform" rating in a research report on Tuesday, March 17th. Raymond James Financial upped their price objective on shares of Delek US from $47.00 to $54.00 and gave the company an "outperform" rating in a research note on Wednesday, March 25th. Finally, Scotiabank set a $34.00 target price on shares of Delek US in a research report on Friday, January 16th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Delek US has a consensus rating of "Hold" and an average price target of $41.00.

Delek US Profile

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.

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