KLP Kapitalforvaltning AS Sells 13,300 Shares of Delek US Holdings, Inc. (NYSE:DK)

Key Points

• KLP Kapitalforvaltning AS has reduced its holdings in Delek US Holdings by 46.6%, owning 15,250 shares after selling 13,300 shares in the first quarter, valued at approximately $230,000.
• Several analysts have raised their price targets for Delek US stock, with Piper Sandler increasing its target from $17.00 to $27.00 and Citigroup raising it to $30.00.
• Delek US announced a quarterly dividend of $0.255 per share, with a dividend yield of 4.6%, set to be paid on August 18th.

KLP Kapitalforvaltning AS decreased its position in shares of Delek US Holdings, Inc. (NYSE:DK - Free Report) by 46.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,250 shares of the oil and gas company's stock after selling 13,300 shares during the period. KLP Kapitalforvaltning AS's holdings in Delek US were worth $230,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in DK. Sterling Capital Management LLC lifted its holdings in shares of Delek US by 728.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,491 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 1,311 shares during the period. CWM LLC lifted its holdings in shares of Delek US by 100.9% during the first quarter. CWM LLC now owns 2,318 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 1,164 shares during the period. Creative Financial Designs Inc. ADV acquired a new position in shares of Delek US during the first quarter worth $47,000. GAMMA Investing LLC lifted its holdings in shares of Delek US by 907.0% during the first quarter. GAMMA Investing LLC now owns 4,159 shares of the oil and gas company's stock worth $63,000 after purchasing an additional 3,746 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Delek US by 77.4% during the first quarter. Farther Finance Advisors LLC now owns 7,118 shares of the oil and gas company's stock worth $110,000 after purchasing an additional 3,105 shares during the period. Institutional investors and hedge funds own 97.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler lifted their target price on shares of Delek US from $17.00 to $27.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. UBS Group lowered their target price on shares of Delek US from $21.00 to $13.25 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Scotiabank reissued a "sector perform" rating and set a $20.00 target price (up previously from $14.00) on shares of Delek US in a research note on Friday, July 11th. Morgan Stanley lifted their target price on shares of Delek US from $15.00 to $19.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 16th. Finally, The Goldman Sachs Group lifted their target price on shares of Delek US from $15.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $20.60.

Delek US Stock Down 1.6%

DK traded down $0.34 during midday trading on Tuesday, hitting $21.05. The company had a trading volume of 719,044 shares, compared to its average volume of 1,594,577. Delek US Holdings, Inc. has a 52 week low of $11.02 and a 52 week high of $27.07. The company has a quick ratio of 0.53, a current ratio of 0.85 and a debt-to-equity ratio of 7.05. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of -1.89 and a beta of 1.00. The stock's 50 day moving average price is $22.10 and its 200 day moving average price is $18.07.

Delek US (NYSE:DK - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported ($2.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.27) by ($0.05). The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.56 billion. Delek US had a negative net margin of 6.10% and a negative return on equity of 63.88%. The firm's quarterly revenue was down 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.41) earnings per share. On average, research analysts anticipate that Delek US Holdings, Inc. will post -5.5 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Monday, August 11th will be issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Monday, August 11th. Delek US's dividend payout ratio (DPR) is currently -9.18%.

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.