Dockside LLC Invests $884,000 in Delek US Holdings, Inc. $DK

Key Points

• Dockside LLC disclosed a new fourth-quarter position in Delek US Holdings, buying 29,800 shares valued at about $884,000.
• Delek US reported better-than-expected quarterly results, with EPS of $0.08 versus estimates for a loss, and revenue of $2.65 billion versus expectations of $2.33 billion.
• Analyst sentiment remains mixed: the stock has an average Hold rating with a $45 average price target, while recent insider activity included share sales by a director and an EVP.

Dockside LLC acquired a new position in Delek US Holdings, Inc. (NYSE:DK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 29,800 shares of the oil and gas company's stock, valued at approximately $884,000.

Several other hedge funds and other institutional investors have also modified their holdings of DK. Norges Bank acquired a new stake in shares of Delek US in the fourth quarter worth $48,374,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Delek US by 6,300.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,306,269 shares of the oil and gas company's stock worth $42,153,000 after acquiring an additional 1,285,861 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Delek US in the third quarter worth $23,308,000. BNP Paribas Financial Markets grew its stake in shares of Delek US by 345.5% in the third quarter. BNP Paribas Financial Markets now owns 613,085 shares of the oil and gas company's stock worth $19,784,000 after acquiring an additional 475,481 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Delek US by 29.4% in the third quarter. Barclays PLC now owns 1,873,578 shares of the oil and gas company's stock worth $60,460,000 after acquiring an additional 425,896 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Delek US Price Performance

Shares of DK stock opened at $47.26 on Monday. The stock's fifty day simple moving average is $44.02 and its 200 day simple moving average is $38.26. The company has a debt-to-equity ratio of 10.51, a current ratio of 0.76 and a quick ratio of 0.49. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of -51.94, a P/E/G ratio of 0.32 and a beta of 0.60. Delek US Holdings, Inc. has a one year low of $19.81 and a one year high of $50.33.

Delek US (NYSE:DK - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 EPS for the quarter, beating the consensus estimate of ($1.42) by $1.50. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.33 billion. Delek US had a positive return on equity of 22.90% and a negative net margin of 0.48%.Delek US's quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($2.32) EPS. On average, analysts expect that Delek US Holdings, Inc. will post 5.01 earnings per share for the current fiscal year.

Delek US Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, May 1st were paid a $0.255 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.02 annualized dividend and a yield of 2.2%. Delek US's payout ratio is currently -112.09%.

Insiders Place Their Bets

In related news, Director Shlomo Zohar sold 7,343 shares of the business's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $46.00, for a total value of $337,778.00. Following the sale, the director owned 6,646 shares of the company's stock, valued at $305,716. The trade was a 52.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Reuven Spiegel sold 10,000 shares of the business's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $44.36, for a total value of $443,600.00. Following the completion of the sale, the executive vice president directly owned 48,372 shares in the company, valued at approximately $2,145,781.92. This represents a 17.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 46,613 shares of company stock worth $2,136,496 over the last quarter. Corporate insiders own 3.56% of the company's stock.

Wall Street Analyst Weigh In

DK has been the topic of several recent research reports. Mizuho lifted their price objective on Delek US from $54.00 to $60.00 and gave the stock an "outperform" rating in a report on Wednesday, May 27th. UBS Group lifted their price objective on Delek US from $42.00 to $48.00 and gave the stock a "neutral" rating in a report on Friday, April 10th. Wells Fargo & Company lifted their price objective on Delek US from $54.00 to $59.00 and gave the stock an "overweight" rating in a report on Tuesday, March 31st. Wall Street Zen raised Delek US from a "buy" rating to a "strong-buy" rating in a report on Monday, May 18th. Finally, TD Cowen decreased their price objective on Delek US from $60.00 to $44.00 and set a "hold" rating on the stock in a report on Monday, April 27th. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $45.00.

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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