Fisher Asset Management LLC Has $30.99 Million Position in Delek US Holdings, Inc. $DK

Key Points

• Fisher Asset Management cut its stake in Delek US by 22.1% in the fourth quarter, but still held about 1.04 million shares worth roughly $30.99 million.
• Several Delek US insiders sold shares recently, including EVP Robert G. Wright and EVP Reuven Spiegel, with insiders selling 197,736 shares total over the last 90 days.
• Analysts are mixed on DK, with a consensus rating of “Hold” and an average price target of $44.23; the stock recently traded around $42.86 after the company beat quarterly earnings and revenue estimates.

Fisher Asset Management LLC lowered its holdings in Delek US Holdings, Inc. (NYSE:DK - Free Report) by 22.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,044,693 shares of the oil and gas company's stock after selling 295,879 shares during the quarter. Fisher Asset Management LLC owned about 1.74% of Delek US worth $30,986,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. bought a new stake in shares of Delek US during the third quarter worth $27,000. EverSource Wealth Advisors LLC raised its position in shares of Delek US by 173.4% during the fourth 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 last quarter. Torren Management LLC bought a new stake in shares of Delek US during the fourth quarter worth $40,000. Focus Partners Wealth bought a new stake in shares of Delek US during the third quarter worth $44,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Delek US during the third quarter worth $59,000. Institutional investors own 97.01% of the company's stock.

Insider Buying and Selling

In other Delek US news, EVP Robert G. Wright sold 10,720 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $47.07, for a total value of $504,590.40. Following the completion of the sale, the executive vice president directly owned 48,148 shares in the company, valued at $2,266,326.36. This represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Reuven Spiegel sold 10,000 shares of the stock in a transaction dated Monday, May 18th. The stock was 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 owned 48,372 shares of the company's stock, valued at $2,145,781.92. This trade represents a 17.13% 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. Over the last ninety days, insiders sold 197,736 shares of company stock valued at $8,433,442. 3.56% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on DK shares. TD Cowen dropped their target price on Delek US from $60.00 to $44.00 and set a "hold" rating for the company in a research report on Monday, April 27th. Wells Fargo & Company boosted their target price on Delek US from $54.00 to $59.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 31st. Citigroup boosted their target price on Delek US from $33.00 to $44.00 and gave the stock a "neutral" rating in a research report on Monday, April 13th. Scotiabank upgraded Delek US to a "hold" rating in a report on Friday, March 27th. Finally, Mizuho increased their target price on Delek US from $51.00 to $54.00 and gave the company an "outperform" rating in a research note on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $44.23.

Delek US Trading Down 1.9%

NYSE:DK opened at $42.86 on Wednesday. Delek US Holdings, Inc. has a 1-year low of $18.12 and a 1-year high of $49.50. The business's 50-day moving average price is $43.51 and its two-hundred day moving average price is $37.67. The company has a current ratio of 0.76, a quick ratio of 0.49 and a debt-to-equity ratio of 10.51. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -47.10, a PEG ratio of 0.30 and a beta of 0.63.

Delek US (NYSE:DK - Get Free Report) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($1.42) by $1.50. Delek US had a positive return on equity of 22.90% and a negative net margin of 0.48%.The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the firm posted ($2.32) earnings per share. The company's quarterly revenue was up .4% on a year-over-year basis. On average, equities analysts expect that Delek US Holdings, Inc. will post 4.95 earnings per share for the current year.

Delek US Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, May 1st were issued a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, May 1st. Delek US's dividend payout ratio is -112.09%.

About Delek US

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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