Delek US Holdings, Inc. $DK Stock Sold by Range Financial Group LLC

Key Points

• Range Financial Group cut its Delek US stake by 90.9% in the third quarter, selling 28,900 shares and retaining 2,902 shares valued at approximately $207,000. Institutional investors collectively own 97.01% of the company.
• Delek US reported strong quarterly results, with EPS of $5.48 versus the $2.67 consensus and revenue of $4.09 billion, up 47.9% year over year. Analysts project full-year EPS of $17.77.
• Shares opened at $78.07, near their 52-week high of $82.27. Analyst sentiment is “Moderate Buy,” with recent price-target increases from Goldman Sachs to $97 and Wells Fargo to $95, although insiders have sold $11.08 million of stock over the past 90 days.

Range Financial Group LLC trimmed its stake in Delek US Holdings, Inc. (NYSE:DK - Free Report) by 90.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,902 shares of the oil and gas company's stock after selling 28,900 shares during the quarter. Range Financial Group LLC's holdings in Delek US were worth $207,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Allworth Financial LP increased its position in Delek US by 30.7% during the 2nd quarter. Allworth Financial LP now owns 600 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 141 shares in the last quarter. Net Worth Advisory Group raised its stake in Delek US by 2.1% in the 3rd quarter. Net Worth Advisory Group now owns 13,327 shares of the oil and gas company's stock valued at $991,000 after purchasing an additional 277 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Delek US by 11.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,489 shares of the oil and gas company's stock valued at $249,000 after purchasing an additional 352 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in Delek US by 223.7% in the 3rd quarter. Fortitude Family Office LLC now owns 547 shares of the oil and gas company's stock valued at $39,000 after purchasing an additional 378 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Delek US by 61.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the oil and gas company's stock valued at $84,000 after purchasing an additional 451 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Amber Russell sold 5,392 shares of the company's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $75.50, for a total transaction of $407,096.00. Following the completion of the transaction, the executive vice president owned 35,670 shares of the company's stock, valued at $2,693,085. This represents a 13.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gary Sullivan, Jr. sold 27,688 shares of the company's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $69.01, for a total transaction of $1,910,748.88. Following the transaction, the director directly owned 32,004 shares of the company's stock, valued at approximately $2,208,596.04. This represents a 46.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 163,377 shares of company stock worth $11,082,485 over the last ninety days. Insiders own 3.56% of the company's stock.

Delek US Price Performance

Shares of NYSE:DK opened at $78.07 on Thursday. The company has a market cap of $4.78 billion, a P/E ratio of 21.93, a P/E/G ratio of 0.34 and a beta of 0.62. The company has a quick ratio of 0.47, a current ratio of 0.76 and a debt-to-equity ratio of 7.53. Delek US Holdings, Inc. has a 52 week low of $25.85 and a 52 week high of $82.27. The business has a fifty day simple moving average of $73.15 and a 200-day simple moving average of $58.06.

Delek US (NYSE:DK - Get Free Report) last released its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 EPS for the quarter, beating the consensus estimate of $2.67 by $2.81. Delek US had a return on equity of 109.03% and a net margin of 1.86%. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same period in the prior year, the firm posted ($0.56) earnings per share. The business's quarterly revenue was up 47.9% compared to the same quarter last year. Equities research analysts forecast that Delek US Holdings, Inc. will post 17.77 EPS for the current year.

Analyst Upgrades and Downgrades

DK has been the topic of several analyst reports. Morgan Stanley raised their price target on shares of Delek US from $45.00 to $81.00 and gave the stock an "equal weight" rating in a research note on Monday, September 14th. The Goldman Sachs Group boosted their price objective on shares of Delek US from $83.00 to $97.00 and gave the company a "buy" rating in a research report on Thursday, October 15th. Wells Fargo & Company boosted their price objective on shares of Delek US from $82.00 to $95.00 and gave the company an "overweight" rating in a research report on Wednesday, October 14th. Mizuho reissued a "neutral" rating and set a $83.00 price objective (up from $66.00) on shares of Delek US in a research note on Thursday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Delek US from $57.00 to $62.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $70.83.

About Delek US

Delek US Holdings, Inc is a downstream energy company headquartered in Brentwood, Tennessee. The company operates petroleum refineries and related logistics assets, producing and transporting fuels and other refined petroleum products for markets primarily in the southern United States.

Through its refining operations, Delek processes crude oil into products such as gasoline, diesel, jet fuel and asphalt. Its logistics business, conducted in part through Delek Logistics Partners, owns and operates pipelines, crude oil gathering systems, storage terminals, transportation assets and other infrastructure that supports the movement of crude oil and refined products.

Delek has also operated convenience stores and fuel stations, particularly in Texas and neighboring states, under brands including DK and Alon.

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