Quantbot Technologies LP Takes Position in Delek US Holdings, Inc. $DK

Key Points

• Quantbot Technologies initiated a position in Delek US Holdings, purchasing 19,515 shares valued at approximately $992,000. Institutional investors and hedge funds collectively own 97.01% of the company.
• Delek US insiders sold 152,925 shares worth about $10 million in the past quarter, including sales by a director and an executive vice president. Insiders retain a 3.56% ownership stake.
• The company reported strong quarterly results, with EPS of $5.48 versus the $2.67 consensus estimate and revenue up 47.9% year over year to $4.09 billion. Analysts’ average rating remains “Hold,” with an average price target of $53.15, while the stock opened at $70.78.

Quantbot Technologies LP bought a new position in Delek US Holdings, Inc. (NYSE:DK - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,515 shares of the oil and gas company's stock, valued at approximately $992,000.

Other hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Delek US by 95.6% during the fourth 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 last quarter. Brown Brothers Harriman & Co. purchased a new position in Delek US in the 3rd quarter worth about $27,000. EverSource Wealth Advisors LLC raised its holdings in Delek US by 173.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company's stock worth $29,000 after buying an additional 614 shares during the period. Allworth Financial LP acquired a new stake in Delek US during the 2nd quarter worth about $30,000. Finally, Torren Management LLC purchased a new stake in Delek US during the fourth quarter valued at about $40,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Delek US

In related news, Director Richard J. Marcogliese sold 2,000 shares of Delek US stock in a transaction on Friday, August 21st. The stock was sold at an average price of $71.05, for a total transaction of $142,100.00. Following the completion of the sale, the director owned 12,880 shares of the company's stock, valued at approximately $915,124. This trade represents a 13.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Reuven Spiegel sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $68.21, for a total value of $682,100.00. Following the completion of the transaction, the executive vice president owned 36,435 shares in the company, valued at $2,485,231.35. This trade represents a 21.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 152,925 shares of company stock valued at $10,013,091 in the last quarter. Corporate insiders own 3.56% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Delek US from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 9th. Zacks Research raised shares of Delek US from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 26th. Raymond James Financial lifted their price objective on shares of Delek US from $60.00 to $70.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. JPMorgan Chase & Co. boosted their target price on shares of Delek US from $57.00 to $62.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Finally, Morgan Stanley increased their target price on Delek US from $41.00 to $45.00 and gave the company an "equal weight" rating in a report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $53.15.

Delek US Price Performance

NYSE DK opened at $70.78 on Thursday. The company has a 50 day simple moving average of $59.52 and a 200-day simple moving average of $48.31. The company has a debt-to-equity ratio of 7.53, a current ratio of 0.76 and a quick ratio of 0.47. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 1.47 and a beta of 0.57. Delek US Holdings, Inc. has a 52-week low of $25.66 and a 52-week high of $72.00.

Delek US (NYSE:DK - Get Free Report) last released its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.67 by $2.81. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.44 billion. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The company's revenue was up 47.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.56) EPS. Equities research analysts predict that Delek US Holdings, Inc. will post 10.1 earnings per share for the current fiscal year.

Delek US Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, August 3rd. Delek US's dividend payout ratio (DPR) is currently 28.65%.

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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