Bank of America Corp DE Sells 81,366 Shares of Delek US Holdings, Inc. (NYSE:DK)

Bank of America Corp DE reduced its stake in shares of Delek US Holdings, Inc. (NYSE:DK - Free Report) by 72.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,186 shares of the oil and gas company's stock after selling 81,366 shares during the quarter. Bank of America Corp DE's holdings in Delek US were worth $577,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of DK. Ameriprise Financial Inc. increased its holdings in Delek US by 14.4% during 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 in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Delek US during the fourth quarter worth about $532,000. Freestone Grove Partners LP acquired a new stake in Delek US during the 4th quarter valued at $209,000. Ion Asset Management Ltd. lifted its stake in shares of Delek US by 16.5% during the 4th quarter. Ion Asset Management Ltd. now owns 3,455,000 shares of the oil and gas company's stock worth $63,918,000 after buying an additional 488,509 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Delek US by 8.0% during the fourth quarter. Northern Trust Corp now owns 903,840 shares of the oil and gas company's stock worth $16,721,000 after acquiring an additional 66,815 shares during the period. Institutional investors own 97.01% of the company's stock.

Delek US Stock Performance

DK stock traded down $0.05 during midday trading on Thursday, reaching $20.25. 137,856 shares of the company's stock traded hands, compared to its average volume of 1,318,756. The firm has a market capitalization of $1.23 billion, a PE ratio of -4.17 and a beta of 0.96. The company has a 50-day moving average price of $15.77 and a two-hundred day moving average price of $16.85. Delek US Holdings, Inc. has a 52 week low of $11.03 and a 52 week high of $25.68. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.67 and a current ratio of 1.04.

Delek US (NYSE:DK - Get Free Report) last issued its earnings results on Wednesday, May 7th. The oil and gas company reported ($2.32) EPS for the quarter, missing the consensus estimate of ($2.27) by ($0.05). The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.56 billion. Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The firm's revenue for the quarter was down 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.41) EPS. As a group, equities analysts anticipate that Delek US Holdings, Inc. will post -5.5 EPS for the current year.

Delek US Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 12th were given a $0.255 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.04%. Delek US's dividend payout ratio (DPR) is presently -9.18%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DK. Piper Sandler reduced their target price on shares of Delek US from $18.00 to $17.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Scotiabank cut their price objective on Delek US from $24.00 to $14.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Raymond James lowered their price objective on Delek US from $24.00 to $23.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. The Goldman Sachs Group increased 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. Finally, UBS Group decreased 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 report on Wednesday, April 9th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Delek US currently has a consensus rating of "Hold" and an average target price of $17.60.

Delek US 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.