Deutsche Bank AG Decreases Stock Holdings in Delek US Holdings, Inc. $DK

Key Points

• Deutsche Bank AG significantly reduced its stake in Delek US Holdings, Inc. by 86.4%, now holding 60,926 shares valued at approximately $918,000, according to its latest SEC filing.
• Delek US recently reported a loss of $0.56 per share for the last quarter, though it exceeded analysts' expectations. Revenue decreased by 16.4% year-over-year, amounting to $2.76 billion.
• The company announced a quarterly dividend of $0.255 per share, resulting in an annualized yield of 4.2%, despite a negative dividend payout ratio of -8.30%.

Deutsche Bank AG trimmed its position in Delek US Holdings, Inc. (NYSE:DK - Free Report) by 86.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,926 shares of the oil and gas company's stock after selling 387,193 shares during the quarter. Deutsche Bank AG owned approximately 0.10% of Delek US worth $918,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. CWM LLC grew its position in shares of Delek US by 100.9% in the 1st quarter. CWM LLC now owns 2,318 shares of the oil and gas company's stock valued at $35,000 after buying an additional 1,164 shares during the last quarter. Creative Financial Designs Inc. ADV purchased a new position in Delek US during the 1st quarter worth $47,000. GAMMA Investing LLC grew its position in Delek US by 907.0% during the 1st 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 last quarter. Farther Finance Advisors LLC grew its position in Delek US by 77.4% during the 1st 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 last quarter. Finally, Net Worth Advisory Group purchased a new position in Delek US during the 1st quarter worth $159,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DK. Scotiabank reissued a "sector perform" rating and set a $20.00 price objective (up from $14.00) on shares of Delek US in a research report on Friday, July 11th. Piper Sandler raised their price objective on shares of Delek US from $17.00 to $27.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Wells Fargo & Company raised their target price on shares of Delek US from $11.00 to $15.00 and gave the stock an "underweight" rating in a research note on Wednesday, June 11th. TD Cowen reduced their target price on shares of Delek US from $18.00 to $15.00 and set a "sell" rating for the company in a research note on Friday, August 8th. Finally, The Goldman Sachs Group raised 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. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat.com, Delek US has a consensus rating of "Reduce" and an average target price of $20.35.

Delek US Price Performance

DK traded up $0.37 during midday trading on Friday, reaching $27.33. 753,763 shares of the company's stock were exchanged, compared to its average volume of 1,689,726. The company has a debt-to-equity ratio of 10.48, a current ratio of 0.80 and a quick ratio of 0.50. The stock has a market capitalization of $1.64 billion, a PE ratio of -2.22 and a beta of 1.00. The business's 50-day moving average price is $23.13 and its 200 day moving average price is $18.60. Delek US Holdings, Inc. has a 1-year low of $11.02 and a 1-year high of $27.53.

Delek US (NYSE:DK - Get Free Report) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.92) by $0.36. The company had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.68 billion. Delek US had a negative net margin of 7.11% and a negative return on equity of 79.27%. The firm's quarterly revenue was down 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.92) earnings per share. As a group, equities analysts anticipate that Delek US Holdings, Inc. will post -5.5 EPS for the current fiscal year.

Delek US Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were issued a dividend of $0.255 per share. The ex-dividend date was Monday, August 11th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.7%. Delek US's payout ratio is -8.30%.

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.