Hsbc Holdings PLC Sells 22,550 Shares of Delek US Holdings, Inc. $DK

Key Points

• HSBC cut its stake in Delek US by 30.2% in the fourth quarter, selling 22,550 shares and leaving it with 52,204 shares valued at about $1.56 million.
• Insider selling has been notable, with EVP Robert G. Wright and EVP Reuven Spiegel both selling shares in May; insiders have sold 34,270 shares worth $1.57 million over the last 90 days.
• Analysts are mixed but slightly more positive after recent upgrades, with the consensus rating at “Hold” and an average price target of $46.08, while Delek US recently reported better-than-expected quarterly earnings and revenue.

Hsbc Holdings PLC lessened its holdings in Delek US Holdings, Inc. (NYSE:DK - Free Report) by 30.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,204 shares of the oil and gas company's stock after selling 22,550 shares during the period. Hsbc Holdings PLC owned about 0.09% of Delek US worth $1,555,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Thoroughbred Financial Services LLC grew its position in Delek US by 1.3% in the 4th quarter. Thoroughbred Financial Services LLC now owns 27,164 shares of the oil and gas company's stock worth $805,000 after purchasing an additional 348 shares in the last quarter. New York State Common Retirement Fund boosted its position in Delek US by 1.8% in 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 last quarter. Aster Capital Management DIFC Ltd boosted its position in 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 worth $67,000 after purchasing an additional 425 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Delek US by 95.6% in 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 purchasing an additional 432 shares during the period. Finally, Orion Porfolio Solutions LLC grew its stake in Delek US by 2.2% in 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 purchasing an additional 507 shares during the period. Institutional investors own 97.01% of the company's stock.

Insider Transactions at Delek US

In related 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 transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Reuven Spiegel sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $44.36, for a total value of $443,600.00. Following the transaction, the executive vice president owned 48,372 shares in the company, valued at approximately $2,145,781.92. The trade was a 17.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 34,270 shares of company stock worth $1,571,218. 3.56% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Zacks Research upgraded shares of Delek US from a "hold" rating to a "strong-buy" rating in a report on Friday, June 26th. TD Cowen raised Delek US from a "hold" rating to a "buy" rating and increased their price objective for the stock from $50.00 to $58.00 in a report on Monday. Morgan Stanley upped their target price on shares of Delek US from $41.00 to $45.00 and gave the stock an "equal weight" rating in a report on Friday, June 12th. Raymond James Financial increased their target price on shares of Delek US from $47.00 to $54.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 25th. Finally, Wall Street Zen upgraded shares of Delek US from a "buy" rating to a "strong-buy" rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $46.08.

Delek US Price Performance

Shares of NYSE:DK opened at $50.86 on Wednesday. The company's fifty day moving average price is $44.72 and its 200-day moving average price is $38.90. The company has a debt-to-equity ratio of 10.51, a current ratio of 0.76 and a quick ratio of 0.49. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -55.89, a PEG ratio of 0.33 and a beta of 0.60. Delek US Holdings, Inc. has a one year low of $19.81 and a one year high of $53.31.

Delek US (NYSE:DK - Get Free Report) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $1.50. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.33 billion. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. The firm's quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business earned ($2.32) earnings per share. On average, equities research analysts anticipate that Delek US Holdings, Inc. will post 5.27 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, May 1st were given a $0.255 dividend. The ex-dividend date was Friday, May 1st. This represents a $1.02 dividend on an annualized basis and a yield of 2.0%. Delek US's payout ratio is presently -112.09%.

Delek US Company Profile

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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