Empyrean Capital Partners LP Makes New Investment in Delek US Holdings, Inc. $DK

Key Points

• Empyrean Capital Partners initiated a position in Delek US, purchasing 208,700 shares valued at approximately $9.4 million, or 0.34% of the company. Institutional investors collectively own 97.01% of Delek US.
• Delek US reported quarterly EPS of $0.08, beating consensus estimates by $1.50, on revenue of $2.65 billion. The company also declared a quarterly dividend of $0.255 per share, implying a 1.6% annualized yield.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with a $51.92 price target, while recent targets range from $45 to $73. Shares opened at $64.44, near the stock’s 52-week high of $68.93.

Empyrean Capital Partners LP bought a new position in Delek US Holdings, Inc. (NYSE:DK - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 208,700 shares of the oil and gas company's stock, valued at approximately $9,406,000. Empyrean Capital Partners LP owned 0.34% of Delek US at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its stake in Delek US by 95.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company's stock worth $26,000 after buying an additional 432 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in Delek US during the 3rd quarter valued at approximately $27,000. EverSource Wealth Advisors LLC grew its holdings in shares of Delek US by 173.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company's stock worth $29,000 after acquiring an additional 614 shares during the period. Torren Management LLC purchased a new position in shares of Delek US during the 4th quarter worth approximately $40,000. Finally, Focus Partners Wealth bought a new position in shares of Delek US in the 3rd quarter worth approximately $44,000. Institutional investors own 97.01% of the company's stock.

Insider Buying and Selling at Delek US

In other news, Director Vicky Sutil sold 1,871 shares of the business's stock in a transaction on 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 owned 29,368 shares in the company, valued at $1,409,664. The trade was a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Laurie Z. Tolson sold 4,921 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $46.30, for a total value of $227,842.30. Following the transaction, the director directly owned 18,226 shares in the company, valued at approximately $843,863.80. The trade was a 21.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 39,270 shares of company stock worth $1,828,718. Insiders own 3.56% of the company's stock.

Delek US Stock Up 2.0%

Shares of Delek US stock opened at $64.44 on Tuesday. The company has a 50-day simple moving average of $50.69 and a two-hundred day simple moving average of $42.70. The stock has a market capitalization of $3.95 billion, a PE ratio of -70.82, a price-to-earnings-growth ratio of 1.67 and a beta of 0.58. Delek US Holdings, Inc. has a 52-week low of $19.81 and a 52-week high of $68.93. The company has a debt-to-equity ratio of 10.51, a quick ratio of 0.49 and a current ratio of 0.76.

Delek US (NYSE:DK - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of ($1.42) by $1.50. The firm had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.33 billion. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. The business's revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($2.32) earnings per share. On average, analysts anticipate that Delek US Holdings, Inc. will post 8.3 EPS for the current fiscal year.

Delek US Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 1.6%. The ex-dividend date is Monday, August 3rd. Delek US's dividend payout ratio (DPR) is currently -112.09%.

Analysts Set New Price Targets

A number of research firms have recently commented on DK. Mizuho lifted their price target on Delek US from $54.00 to $60.00 and gave the company an "outperform" rating in a research report on Wednesday, May 27th. Morgan Stanley increased their price objective on Delek US from $41.00 to $45.00 and gave the stock an "equal weight" rating in a report on Friday, June 12th. UBS Group raised their price objective on Delek US from $42.00 to $48.00 and gave the company a "neutral" rating in a research report on Friday, April 10th. Wells Fargo & Company boosted their target price on shares of Delek US from $54.00 to $59.00 and gave the company an "overweight" rating in a report on Tuesday, March 31st. Finally, The Goldman Sachs Group upped their target price on shares of Delek US from $58.00 to $73.00 and gave the stock a "buy" rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Delek US currently has an average rating of "Hold" and a consensus price target of $51.92.

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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