Deutsche Bank AG Takes $11.45 Million Position in Delek US Holdings, Inc. $DK

Key Points

• Deutsche Bank acquired a new $11.45 million stake in Delek US Holdings during the second quarter, purchasing 225,295 shares, while institutional investors collectively own 97.01% of the company.
• Delek US reported strong quarterly results, with EPS of $5.48 versus $2.67 expected and revenue up 47.9% year over year to $4.09 billion. The company also maintains a quarterly dividend of $0.255 per share, yielding approximately 1.4%.
• Analyst sentiment remains mixed: Delek US has a consensus rating of “Hold” and an average price target of $53.15, despite recent target increases and the stock trading near its 52-week high at $71.19.

Deutsche Bank AG bought a new stake in Delek US Holdings, Inc. (NYSE:DK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 225,295 shares of the oil and gas company's stock, valued at approximately $11,447,000. Deutsche Bank AG owned 0.37% of Delek US as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in DK. Alberta Investment Management Corp acquired a new stake in Delek US during the second quarter worth about $4,624,000. Bank of New York Mellon Corp acquired a new position in Delek US in the 2nd quarter valued at approximately $19,760,000. State of Wyoming bought a new stake in shares of Delek US in the 2nd quarter worth approximately $501,000. Wedge Capital Management L L P NC increased its position in shares of Delek US by 4.5% during the second quarter. Wedge Capital Management L L P NC now owns 23,493 shares of the oil and gas company's stock valued at $1,194,000 after purchasing an additional 1,005 shares during the period. Finally, NewEdge Advisors LLC bought a new stake in Delek US in the 1st quarter valued at $290,000. Institutional investors own 97.01% of the company's stock.

Insider Buying and Selling

In related news, Director Vicky Sutil sold 1,871 shares of Delek US stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $48.00, for a total value of $89,808.00. Following the completion of the transaction, the director directly owned 29,368 shares of the company's stock, valued at $1,409,664. The trade was a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Reuven Spiegel sold 10,000 shares of Delek US stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $68.21, for a total value of $682,100.00. Following the completion of the transaction, the executive vice president directly owned 36,435 shares of the company's stock, valued at $2,485,231.35. This represents a 21.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 123,629 shares of company stock valued at $7,947,385 in the last 90 days. 3.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on DK shares. Morgan Stanley increased their price target on shares of Delek US from $41.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Friday, June 12th. Mizuho raised their target price on Delek US from $60.00 to $66.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded Delek US from a "sell (d+)" rating to a "hold (c+)" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price objective on Delek US from $57.00 to $62.00 and gave the company a "neutral" rating in a report on Tuesday, July 14th. Finally, The Goldman Sachs Group upped their target price on shares of Delek US from $73.00 to $83.00 and gave the stock a "buy" rating in a report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Delek US presently has an average rating of "Hold" and a consensus target price of $53.15.

Delek US Stock Down 0.4%

Shares of DK opened at $71.19 on Monday. The company has a market capitalization of $4.36 billion, a P/E ratio of 20.00, a PEG ratio of 1.55 and a beta of 0.57. Delek US Holdings, Inc. has a one year low of $21.09 and a one year high of $72.00. The business's 50 day simple moving average is $58.01 and its 200-day simple moving average is $47.54. The company has a debt-to-equity ratio of 7.53, a current ratio of 0.76 and a quick ratio of 0.47.

Delek US (NYSE:DK - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $3.44 billion. During the same period last year, the firm posted ($0.56) EPS. The business's revenue was up 47.9% on a year-over-year basis. As a group, sell-side analysts predict that Delek US Holdings, Inc. will post 10.1 EPS for the current fiscal year.

Delek US Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, August 3rd. Delek US's dividend payout ratio is presently 28.65%.

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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