Hsbc Holdings PLC Increases Stock Position in Delek US Holdings, Inc. $DK

Key Points

• Hsbc Holdings PLC increased its stake in Delek US Holdings, Inc. by 6.8%, owning 174,973 shares valued at approximately $2.68 million.
• Delek US recently reported a quarterly EPS of ($0.56), exceeding estimates, but overall revenue decreased 16.4% year-over-year.
• The company declared a quarterly dividend of $0.255 per share, representing a 4.0% annualized yield.

Hsbc Holdings PLC lifted its holdings in shares of Delek US Holdings, Inc. (NYSE:DK - Free Report) by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 174,973 shares of the oil and gas company's stock after acquiring an additional 11,177 shares during the period. Hsbc Holdings PLC owned 0.29% of Delek US worth $2,677,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Rafferty Asset Management LLC grew its position in shares of Delek US by 0.7% during the fourth quarter. Rafferty Asset Management LLC now owns 114,701 shares of the oil and gas company's stock worth $2,122,000 after acquiring an additional 797 shares during the last quarter. CWM LLC grew its position in shares of Delek US by 100.9% during the first quarter. CWM LLC now owns 2,318 shares of the oil and gas company's stock worth $35,000 after acquiring an additional 1,164 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Delek US by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,088 shares of the oil and gas company's stock worth $668,000 after purchasing an additional 1,227 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Delek US by 6.4% during the fourth quarter. MetLife Investment Management LLC now owns 38,532 shares of the oil and gas company's stock worth $713,000 after purchasing an additional 2,311 shares during the period. Finally, Abel Hall LLC lifted its holdings in shares of Delek US by 26.3% during the first quarter. Abel Hall LLC now owns 13,384 shares of the oil and gas company's stock worth $202,000 after purchasing an additional 2,790 shares during the period. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on DK. Piper Sandler increased their price target on Delek US from $17.00 to $27.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Mizuho raised Delek US from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $22.00 to $23.00 in a report on Tuesday, May 13th. Citigroup reaffirmed a "neutral" rating and set a $30.00 price target (up from $15.00) on shares of Delek US in a report on Wednesday, July 16th. Scotiabank reaffirmed a "sector perform" rating and set a $20.00 price target (up from $14.00) on shares of Delek US in a report on Friday, July 11th. Finally, Cowen reaffirmed a "sell" rating on shares of Delek US in a report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat.com, Delek US currently has a consensus rating of "Reduce" and an average target price of $20.35.

Delek US Price Performance

Delek US stock opened at $25.70 on Wednesday. Delek US Holdings, Inc. has a one year low of $11.02 and a one year high of $27.07. The company has a debt-to-equity ratio of 10.48, a quick ratio of 0.50 and a current ratio of 0.80. The business has a fifty day moving average of $22.90 and a two-hundred day moving average of $18.49. The company has a market cap of $1.55 billion, a P/E ratio of -2.09 and a beta of 1.00.

Delek US (NYSE:DK - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.36. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.68 billion. Delek US had a negative return on equity of 79.27% and a negative net margin of 7.11%.The business's revenue was down 16.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.92) EPS. As a group, analysts predict that Delek US Holdings, Inc. will post -5.5 earnings per share for the current fiscal year.

Delek US Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, August 11th. Delek US's payout ratio is -8.30%.

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.

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