Empowered Funds LLC Has $456,000 Stake in Delek US Holdings, Inc. $DK

Key Points

• Empowered Funds LLC cut its Delek US Holdings stake by 92.7% in the first quarter, selling 127,796 shares and retaining 10,122 shares valued at approximately $456,000. Institutional investors and hedge funds collectively own 97.01% of the company.
• Delek US shares rose 5.0% to $63.86, while the company reported quarterly earnings of $5.48 per share, well above the $2.67 consensus estimate, and revenue increased 47.9% year over year to $4.09 billion.
• Analyst sentiment remains mixed, with the stock carrying an average “Hold” rating and a $52.38 target price, despite several recent target increases. Delek US also maintains a quarterly dividend of $0.255 per share, equal to a 1.6% annualized yield.

Empowered Funds LLC lowered its holdings in Delek US Holdings, Inc. (NYSE:DK - Free Report) by 92.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,122 shares of the oil and gas company's stock after selling 127,796 shares during the period. Empowered Funds LLC's holdings in Delek US were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DK. Royal Bank of Canada lifted its position in Delek US by 18.4% during the 1st quarter. Royal Bank of Canada now owns 278,774 shares of the oil and gas company's stock worth $4,201,000 after buying an additional 43,379 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Delek US in the 1st quarter valued at about $390,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Delek US by 3.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,190 shares of the oil and gas company's stock valued at $560,000 after acquiring an additional 1,102 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Delek US by 3,979.8% in the first quarter. Jones Financial Companies Lllp now owns 20,399 shares of the oil and gas company's stock valued at $307,000 after acquiring an additional 19,899 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Delek US by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,871 shares of the oil and gas company's stock worth $2,213,000 after acquiring an additional 9,827 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Delek US Trading Up 5.0%

Shares of Delek US stock opened at $63.86 on Wednesday. The company has a debt-to-equity ratio of 7.53, a current ratio of 0.76 and a quick ratio of 0.47. The business has a fifty day simple moving average of $54.88 and a two-hundred day simple moving average of $45.36. Delek US Holdings, Inc. has a 1 year low of $20.65 and a 1 year high of $68.93. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 1.48 and a beta of 0.57.

Delek US (NYSE:DK - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $5.48 EPS for the quarter, beating the consensus estimate of $2.67 by $2.81. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.44 billion. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The company's quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.56) earnings per share. Research analysts forecast that Delek US Holdings, Inc. will post 9.03 EPS for the current year.

Delek US Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.02 annualized dividend and a dividend yield of 1.6%. Delek US's payout ratio is presently 28.65%.

Insider Activity at Delek US

In other news, Director Laurie Z. Tolson sold 4,921 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $46.30, for a total transaction of $227,842.30. Following the completion of the sale, the director owned 18,226 shares in the company, valued at $843,863.80. The trade was a 21.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Reuven Spiegel sold 10,000 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 48,372 shares in the company, valued at $2,145,781.92. The trade was a 17.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,550 shares of company stock worth $1,324,128 in the last quarter. Corporate insiders own 3.56% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on DK. Mizuho increased their price target on Delek US from $60.00 to $66.00 and gave the company an "outperform" rating in a research report on Tuesday. JPMorgan Chase & Co. upped their price objective on Delek US from $57.00 to $62.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 14th. Morgan Stanley upped their price objective on Delek US from $41.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Friday, June 12th. Weiss Ratings raised Delek US from a "sell (d+)" rating to a "hold (c+)" rating in a report on Thursday, August 6th. Finally, TD Cowen raised their target price on shares of Delek US from $58.00 to $76.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $52.38.

Delek US Company 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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