Kawa Capital Management Inc Has $6.19 Million Stock Holdings in Delek US Holdings, Inc. $DK

Key Points

• Kawa Capital Management Inc significantly increased its stake in Delek US Holdings, acquiring an additional 167,750 shares in the first quarter, raising its total holdings to 400,000 shares, valued at approximately $6.19 million.
• Delek US Holdings reported a quarterly loss of ($0.56) earnings per share, surpassing analyst expectations of ($0.92), despite experiencing a 16.4% decline in year-over-year revenue.
• The company announced a quarterly dividend of $0.255 per share, representing an annualized dividend yield of 3.6%, with a negative payout ratio of -8.30%.

Kawa Capital Management Inc increased its holdings in shares of Delek US Holdings, Inc. (NYSE:DK - Free Report) by 72.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 400,000 shares of the oil and gas company's stock after purchasing an additional 167,750 shares during the period. Delek US accounts for 13.8% of Kawa Capital Management Inc's investment portfolio, making the stock its 3rd largest holding. Kawa Capital Management Inc owned 0.66% of Delek US worth $6,192,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of DK. Comerica Bank raised its stake in shares of Delek US by 96.3% during the 1st quarter. Comerica Bank now owns 40,336 shares of the oil and gas company's stock worth $608,000 after buying an additional 19,788 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Delek US by 238.1% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 750,319 shares of the oil and gas company's stock valued at $11,307,000 after purchasing an additional 528,400 shares during the period. T. Rowe Price Investment Management Inc. acquired a new position in Delek US during the first quarter worth about $13,728,000. Nisa Investment Advisors LLC boosted its stake in shares of Delek US by 1,548.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 13,270 shares of the oil and gas company's stock worth $200,000 after acquiring an additional 12,465 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in Delek US by 77.4% in the 1st quarter. Farther Finance Advisors LLC now owns 7,118 shares of the oil and gas company's stock valued at $110,000 after purchasing an additional 3,105 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Delek US Stock Up 2.0%

Shares of Delek US stock traded up $0.56 on Monday, hitting $28.46. 1,684,792 shares of the company's stock traded hands, compared to its average volume of 1,736,874. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 10.48. The firm's 50-day moving average is $25.05 and its 200 day moving average is $19.68. The stock has a market cap of $1.71 billion, a P/E ratio of -2.32 and a beta of 1.09. Delek US Holdings, Inc. has a 52-week low of $11.02 and a 52-week high of $32.61.

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

Delek US Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, August 11th were given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, August 11th. Delek US's dividend payout ratio (DPR) is presently -8.30%.

Wall Street Analyst Weigh In

DK has been the subject of several recent analyst reports. Cowen restated a "sell" rating on shares of Delek US in a report on Friday, August 8th. Citigroup reissued a "neutral" rating and set a $30.00 price target (up previously from $15.00) on shares of Delek US in a research report on Wednesday, July 16th. Piper Sandler lifted their price objective on Delek US from $29.00 to $34.00 and gave the company a "neutral" rating in a research note on Thursday. Scotiabank restated a "sector perform" rating and issued a $20.00 price target (up previously from $14.00) on shares of Delek US in a report on Friday, July 11th. Finally, Raymond James Financial boosted their price objective on shares of Delek US from $26.00 to $33.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 9th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $25.54.

Insiders Place Their Bets

In other Delek US news, CFO Robert G. Wright sold 7,135 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $29.24, for a total value of $208,627.40. Following the transaction, the chief financial officer owned 48,294 shares of the company's stock, valued at $1,412,116.56. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by company insiders.

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.