Envestnet Asset Management Inc. Sells 82,374 Shares of Delek US Holdings, Inc. (NYSE:DK)

Key Points

• Envestnet Asset Management Inc. has reduced its stake in Delek US Holdings by 44.1%, now owning 104,393 shares valued at approximately $1.57 million as of the latest SEC filing.
• Delek US reported a quarterly EPS of ($2.32), missing analysts' expectations, with revenue of $2.64 billion, down 18.1% from the previous year.
• The company announced a quarterly dividend of $0.255, resulting in an annual yield of 4.46%, despite a negative payout ratio of -9.18%.

Envestnet Asset Management Inc. reduced its position in Delek US Holdings, Inc. (NYSE:DK - Free Report) by 44.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 104,393 shares of the oil and gas company's stock after selling 82,374 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.17% of Delek US worth $1,573,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of DK. Millennium Management LLC boosted its holdings in shares of Delek US by 1,199.2% during the 4th quarter. Millennium Management LLC now owns 870,257 shares of the oil and gas company's stock worth $16,100,000 after buying an additional 803,274 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of Delek US during the 4th quarter valued at $13,680,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Delek US by 238.1% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 750,319 shares of the oil and gas company's stock worth $11,307,000 after acquiring an additional 528,400 shares in the last quarter. Ion Asset Management Ltd. grew its holdings in Delek US by 16.5% in the fourth quarter. Ion Asset Management Ltd. now owns 3,455,000 shares of the oil and gas company's stock worth $63,918,000 after purchasing an additional 488,509 shares during the period. Finally, Norges Bank bought a new stake in Delek US in the fourth quarter valued at $6,815,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DK. Wells Fargo & Company increased their price objective on shares of Delek US from $11.00 to $15.00 and gave the stock an "underweight" rating in a research report on Wednesday, June 11th. The Goldman Sachs Group increased their price target on Delek US from $15.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Piper Sandler boosted their price objective on Delek US from $17.00 to $27.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Mizuho upgraded Delek US from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $22.00 to $23.00 in a report on Tuesday, May 13th. Finally, UBS Group reduced their price target on shares of Delek US from $21.00 to $13.25 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $20.60.

Delek US Stock Down 7.0%

Shares of DK stock traded down $1.57 on Friday, hitting $20.80. The stock had a trading volume of 1,320,384 shares, compared to its average volume of 1,693,401. The company has a debt-to-equity ratio of 7.05, a current ratio of 0.85 and a quick ratio of 0.53. The business has a 50 day moving average of $22.04 and a 200 day moving average of $18.08. Delek US Holdings, Inc. has a 12-month low of $11.02 and a 12-month high of $27.07. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -1.87 and a beta of 1.00.

Delek US (NYSE:DK - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported ($2.32) EPS for the quarter, missing the consensus estimate of ($2.27) by ($0.05). Delek US had a negative net margin of 6.10% and a negative return on equity of 63.88%. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.56 billion. During the same quarter last year, the business posted ($0.41) EPS. The company's quarterly revenue was down 18.1% on a year-over-year basis. As a group, analysts expect that Delek US Holdings, Inc. will post -5.5 EPS for the current year.

Delek US Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, August 11th will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Monday, August 11th. Delek US's dividend payout ratio is -9.18%.

Delek US Company 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.