Manning & Napier Advisors LLC Acquires Shares of 275,000 Delek US Holdings, Inc. (NYSE:DK)

Manning & Napier Advisors LLC acquired a new stake in Delek US Holdings, Inc. (NYSE:DK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 275,000 shares of the oil and gas company's stock, valued at approximately $4,144,000. Manning & Napier Advisors LLC owned about 0.44% of Delek US as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Net Worth Advisory Group bought a new position in Delek US in the first quarter worth approximately $159,000. Farther Finance Advisors LLC grew its stake in Delek US by 77.4% in the first quarter. Farther Finance Advisors LLC now owns 7,118 shares of the oil and gas company's stock worth $110,000 after purchasing an additional 3,105 shares in the last quarter. Wedge Capital Management L L P NC grew its position in shares of Delek US by 15.1% during the 1st quarter. Wedge Capital Management L L P NC now owns 36,666 shares of the oil and gas company's stock worth $553,000 after buying an additional 4,810 shares in the last quarter. Rhumbline Advisers grew its position in shares of Delek US by 3.4% during the 1st quarter. Rhumbline Advisers now owns 121,201 shares of the oil and gas company's stock worth $1,826,000 after buying an additional 4,031 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Delek US by 907.0% during the 1st quarter. GAMMA Investing LLC now owns 4,159 shares of the oil and gas company's stock worth $63,000 after buying an additional 3,746 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Delek US Stock Up 1.9%

Delek US stock opened at $21.75 on Monday. The company has a debt-to-equity ratio of 7.05, a current ratio of 0.85 and a quick ratio of 0.53. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -1.96 and a beta of 0.96. Delek US Holdings, Inc. has a 1-year low of $11.03 and a 1-year high of $25.68. The business has a fifty day moving average price of $17.05 and a 200-day moving average price of $16.93.

Delek US (NYSE:DK - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported ($2.32) earnings per share for the quarter, missing the consensus estimate of ($2.27) by ($0.05). The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.56 billion. Delek US had a negative return on equity of 63.88% and a negative net margin of 6.10%. Delek US's revenue was down 18.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.41) EPS. Equities research analysts forecast that Delek US Holdings, Inc. will post -5.5 EPS for the current fiscal year.

Delek US Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 19th. Stockholders of record on Monday, May 12th were paid a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.02 annualized dividend and a dividend yield of 4.69%. Delek US's payout ratio is currently -9.18%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Scotiabank dropped their target price on shares of Delek US from $24.00 to $14.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Mizuho upgraded shares of Delek US from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $22.00 to $23.00 in a research note on Tuesday, May 13th. UBS Group dropped their price objective on shares of Delek US from $21.00 to $13.25 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company increased their price objective on shares of Delek US from $11.00 to $15.00 and gave the company an "underweight" rating in a research note on Wednesday, June 11th. Finally, Piper Sandler dropped their target price on Delek US from $18.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $17.60.

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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