Kawa Capital Management Inc Sells 50,000 Shares of Delek US Holdings, Inc. $DK

Key Points

• Kawa Capital Management Inc has reduced its stake in Delek US Holdings, Inc. by 12.5%, holding 350,000 shares valued at approximately $7.41 million, which constitutes about 15% of its holdings.
• Institutional investors own 97.01% of Delek US, highlighting strong support from large investment firms.
• Delek US recently reported a negative earnings per share of ($0.56), exceeding analyst expectations, while quarterly revenue dropped by 16.4% year-over-year.

Kawa Capital Management Inc cut its holdings in shares of Delek US Holdings, Inc. (NYSE:DK - Free Report) by 12.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 350,000 shares of the oil and gas company's stock after selling 50,000 shares during the quarter. Delek US comprises 15.0% of Kawa Capital Management Inc's investment portfolio, making the stock its 3rd largest holding. Kawa Capital Management Inc owned approximately 0.58% of Delek US worth $7,413,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DK. T. Rowe Price Investment Management Inc. acquired a new position in shares of Delek US during the first quarter worth approximately $13,728,000. Nuveen LLC acquired a new position in shares of Delek US during the first quarter worth approximately $13,629,000. Millennium Management LLC raised its stake in shares of Delek US by 1,199.2% in the fourth quarter. Millennium Management LLC now owns 870,257 shares of the oil and gas company's stock valued at $16,100,000 after purchasing an additional 803,274 shares in the last quarter. Callodine Capital Management LP raised its stake in shares of Delek US by 1,827.6% in the first quarter. Callodine Capital Management LP now owns 674,661 shares of the oil and gas company's stock valued at $10,167,000 after purchasing an additional 639,661 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised 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 in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Delek US Stock Up 5.4%

Shares of NYSE:DK traded up $1.74 during trading on Tuesday, hitting $34.10. 559,032 shares of the company's stock traded hands, compared to its average volume of 1,739,514. Delek US Holdings, Inc. has a 52 week low of $11.02 and a 52 week high of $34.50. The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 10.48. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -2.78 and a beta of 1.09. The company has a 50-day moving average price of $25.66 and a 200-day moving average price of $20.26.

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

Delek US Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, August 11th were given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, August 11th. Delek US's dividend payout ratio (DPR) is currently -8.30%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DK shares. Bank of America upped their target price on Delek US from $14.00 to $24.00 and gave the company an "underperform" rating in a research note on Wednesday, September 3rd. Piper Sandler upped their target price on Delek US from $29.00 to $34.00 and gave the company a "neutral" rating in a research note on Thursday, September 11th. Morgan Stanley upped their target price on Delek US from $15.00 to $19.00 and gave the company an "underweight" rating in a research note on Wednesday, July 16th. Cowen upgraded Delek US from a "sell" rating to a "hold" rating in a research note on Friday. Finally, UBS Group increased their price objective on Delek US from $24.00 to $29.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 2nd. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $26.54.

Insider Transactions at Delek US

In related news, CFO Robert G. Wright sold 7,135 shares of Delek US stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $29.24, for a total value of $208,627.40. Following the sale, the chief financial officer owned 48,294 shares of the company's stock, valued at approximately $1,412,116.56. This trade represents a 12.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.90% of the company's stock.

About Delek US

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.