Heartland Advisors Inc. Sells 216,600 Shares of Delek US Holdings, Inc. (NYSE:DK)

Key Points

• Heartland Advisors Inc. significantly reduced its holdings in Delek US Holdings, Inc. by 77.3%, selling 216,600 shares and owning 63,700 shares worth approximately $960,000.
• Delek US reported a loss of ($2.32) earnings per share for the last quarter, which was below the consensus estimate of ($2.27), while revenue for the quarter was $2.64 billion, exceeding expectations.
• The company announced a quarterly dividend of $0.255 per share, yielding 4.50%, although its dividend payout ratio stands at -9.18%.

Heartland Advisors Inc. decreased its position in shares of Delek US Holdings, Inc. (NYSE:DK - Free Report) by 77.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,700 shares of the oil and gas company's stock after selling 216,600 shares during the quarter. Heartland Advisors Inc. owned 0.10% of Delek US worth $960,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of DK. Sterling Capital Management LLC increased its position in shares of Delek US by 728.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,491 shares of the oil and gas company's stock valued at $28,000 after buying an additional 1,311 shares in the last quarter. CWM LLC increased its position in shares of Delek US by 100.9% in the first quarter. CWM LLC now owns 2,318 shares of the oil and gas company's stock valued at $35,000 after buying an additional 1,164 shares in the last quarter. Creative Financial Designs Inc. ADV purchased a new stake in shares of Delek US in the first quarter valued at approximately $47,000. GAMMA Investing LLC increased its position in shares of Delek US by 907.0% in the first quarter. GAMMA Investing LLC now owns 4,159 shares of the oil and gas company's stock valued at $63,000 after buying an additional 3,746 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Delek US by 77.4% in the first quarter. Farther Finance Advisors LLC now owns 7,118 shares of the oil and gas company's stock valued at $110,000 after buying an additional 3,105 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Delek US Trading Down 2.3%

Shares of Delek US stock traded down $0.55 during trading hours on Wednesday, hitting $22.92. The company's stock had a trading volume of 628,406 shares, compared to its average volume of 1,594,544. Delek US Holdings, Inc. has a twelve month low of $11.02 and a twelve month high of $27.07. The firm has a fifty day moving average of $21.88 and a 200-day moving average of $18.03. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -2.07 and a beta of 0.98. The company has a debt-to-equity ratio of 7.05, a quick ratio of 0.53 and a current ratio of 0.85.

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

Analyst Ratings Changes

Several analysts recently commented on DK shares. Piper Sandler boosted their price target on Delek US from $17.00 to $27.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. UBS Group dropped their price target on Delek US from $21.00 to $13.25 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley boosted their price target on Delek US from $15.00 to $19.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 16th. Raymond James Financial upped their target price on Delek US from $23.00 to $28.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Finally, Mizuho upgraded Delek US from a "neutral" rating to an "outperform" rating and upped their target price for the company from $22.00 to $23.00 in a report on Tuesday, May 13th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $20.60.

Delek US 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.