Delek US Holdings, Inc. (NYSE:DK) Shares Sold by Heartland Advisors Inc.

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. trimmed its stake in shares of Delek US Holdings, Inc. (NYSE:DK - Free Report) by 77.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,700 shares of the oil and gas company's stock after selling 216,600 shares during the period. Heartland Advisors Inc. owned 0.10% of Delek US worth $960,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DK. Sterling Capital Management LLC lifted its stake 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 worth $28,000 after buying an additional 1,311 shares in the last quarter. CWM LLC lifted its stake 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 worth $35,000 after buying an additional 1,164 shares in the last quarter. Creative Financial Designs Inc. ADV purchased a new position in shares of Delek US in the first quarter worth about $47,000. GAMMA Investing LLC lifted its stake 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 worth $63,000 after buying an additional 3,746 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake 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 worth $110,000 after buying an additional 3,105 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Delek US Trading Up 0.4%

Shares of DK stock traded up $0.09 during trading hours on Friday, hitting $22.68. The company had a trading volume of 2,176,160 shares, compared to its average volume of 1,698,457. The company's fifty day moving average is $21.69 and its 200 day moving average is $17.96. The company has a debt-to-equity ratio of 7.05, a current ratio of 0.85 and a quick ratio of 0.53. Delek US Holdings, Inc. has a fifty-two week low of $11.02 and a fifty-two week high of $27.07. The stock has a market capitalization of $1.38 billion, a PE ratio of -2.04 and a beta of 0.98.

Delek US (NYSE:DK - Get Free Report) last issued 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). The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.56 billion. Delek US had a negative return on equity of 63.88% and a negative net margin of 6.10%. The business's revenue was down 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.41) earnings per share. Research analysts expect that Delek US Holdings, Inc. will post -5.5 earnings per share for the current fiscal year.

Delek US Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Investors of record on Monday, May 12th were issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend was Monday, May 12th. Delek US's dividend payout ratio (DPR) is currently -9.18%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DK shares. Piper Sandler raised their price objective on shares of Delek US from $17.00 to $27.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Mizuho upgraded shares of Delek US from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $22.00 to $23.00 in a research report on Tuesday, May 13th. Raymond James Financial raised their price objective on shares of Delek US from $23.00 to $28.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Wells Fargo & Company raised 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. Finally, Morgan Stanley raised their price objective on shares of Delek US from $15.00 to $19.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 16th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Delek US has an average rating of "Hold" and a consensus 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.