Hsbc Holdings PLC Has $1.57 Million Position in Delek US Holdings, Inc. $DK

Key Points

• Hsbc Holdings PLC reduced its Delek US position by 34% in the second quarter, selling 15,379 shares and retaining 29,890 shares valued at approximately $1.57 million. Institutional investors collectively own 97.01% of the company.
• Analysts remain broadly positive, with Delek US carrying a consensus “Moderate Buy” rating and an average price target of $59.09, although the stock recently opened at $76.22 near its 52-week high.
• Delek US reported strong quarterly results, posting EPS of $5.48 versus the $2.67 estimate and revenue of $4.09 billion, up 47.9% year over year. The company also declared a quarterly dividend of $0.255 per share, equivalent to a 1.3% annualized yield.

Hsbc Holdings PLC trimmed its holdings in Delek US Holdings, Inc. (NYSE:DK - Free Report) by 34.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,890 shares of the oil and gas company's stock after selling 15,379 shares during the period. Hsbc Holdings PLC's holdings in Delek US were worth $1,568,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of DK. Thoroughbred Financial Services LLC boosted its stake in Delek US by 1.3% in the fourth quarter. Thoroughbred Financial Services LLC now owns 27,164 shares of the oil and gas company's stock valued at $805,000 after acquiring an additional 348 shares during the last quarter. New York State Common Retirement Fund boosted its position in Delek US by 1.8% during the fourth quarter. New York State Common Retirement Fund now owns 22,048 shares of the oil and gas company's stock worth $654,000 after purchasing an additional 400 shares during the period. Aster Capital Management DIFC Ltd raised its position in shares of Delek US by 23.2% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,259 shares of the oil and gas company's stock valued at $67,000 after purchasing an additional 425 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in shares of Delek US by 95.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company's stock valued at $26,000 after buying an additional 432 shares in the last quarter. Finally, Orion Porfolio Solutions LLC raised its holdings in Delek US by 2.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 23,244 shares of the oil and gas company's stock valued at $492,000 after acquiring an additional 507 shares during the period. Hedge funds and other institutional investors own 97.01% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on DK shares. The Goldman Sachs Group boosted their price objective on shares of Delek US from $73.00 to $83.00 and gave the company a "buy" rating in a research note on Tuesday, August 18th. Citigroup reiterated a "neutral" rating on shares of Delek US in a research report on Thursday, August 6th. Raymond James Financial increased their price objective on Delek US from $60.00 to $70.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. TD Cowen boosted their price objective on shares of Delek US from $58.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Finally, Weiss Ratings raised Delek US from a "sell (d+)" rating to a "hold (c+)" rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Delek US currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.09.

Delek US Stock Performance

Shares of DK opened at $76.22 on Friday. The company has a 50-day simple moving average of $65.73 and a two-hundred day simple moving average of $51.47. The company has a debt-to-equity ratio of 7.53, a current ratio of 0.76 and a quick ratio of 0.47. The firm has a market capitalization of $4.67 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.51 and a beta of 0.59. Delek US Holdings, Inc. has a one year low of $25.85 and a one year high of $78.43.

Delek US (NYSE:DK - Get Free Report) last released its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 EPS for the quarter, beating analysts' consensus estimates of $2.67 by $2.81. The company had revenue of $4.09 billion during the quarter, compared to analysts' expectations of $3.44 billion. Delek US had a return on equity of 109.03% and a net margin of 1.86%.The firm's revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.56) EPS. On average, analysts anticipate that Delek US Holdings, Inc. will post 11.93 EPS for the current fiscal year.

Delek US Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, August 3rd. Delek US's payout ratio is currently 28.65%.

Insider Transactions at Delek US

In related news, Director Vicky Sutil sold 6,397 shares of the firm's stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $71.50, for a total transaction of $457,385.50. Following the completion of the sale, the director owned 26,407 shares of the company's stock, valued at $1,888,100.50. This trade represents a 19.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard J. Marcogliese sold 2,000 shares of Delek US stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $71.05, for a total value of $142,100.00. Following the completion of the sale, the director owned 12,880 shares of the company's stock, valued at $915,124. The trade was a 13.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 160,042 shares of company stock valued at $10,705,777. 3.56% of the stock is currently owned by corporate insiders.

About Delek US

Delek US Holdings, Inc NYSE: DK is a downstream energy company engaged primarily in petroleum refining, wholesale fuel marketing and logistics. The company produces transportation fuels and other refined petroleum products, including gasoline, diesel, jet fuel and asphalt.

Delek US operates refineries in the southern United States, including facilities in Texas, Arkansas and Louisiana. Its refining operations are supported by crude oil gathering, transportation, storage and other logistics activities conducted through Delek Logistics Partners, a publicly traded master limited partnership that is managed and partially owned by Delek US.

Founded in 2001 and headquartered in Brentwood, Tennessee, Delek US serves regional markets across the central and southeastern United States.

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