Rafferty Asset Management LLC Sells 14,440 Shares of Delek US Holdings, Inc. $DK

Key Points

• Rafferty Asset Management LLC has reduced its stake in Delek US Holdings, Inc. by 12.6%, now owning 100,261 shares worth approximately $1.51 million.
• Comerica Bank and Hotchkis & Wiley Capital Management LLC significantly increased their stakes in Delek US by 96.3% and 82.0%, respectively, during the first quarter.
• Delek US reported a quarterly revenue of $2.76 billion, exceeding analyst estimates, but suffered a net margin drop of 7.11% year-over-year.

Rafferty Asset Management LLC reduced its stake in Delek US Holdings, Inc. (NYSE:DK - Free Report) by 12.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,261 shares of the oil and gas company's stock after selling 14,440 shares during the period. Rafferty Asset Management LLC owned 0.17% of Delek US worth $1,511,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in DK. First Trust Advisors LP increased its stake in shares of Delek US by 114.9% during the fourth quarter. First Trust Advisors LP now owns 121,037 shares of the oil and gas company's stock valued at $2,239,000 after purchasing an additional 64,725 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Delek US by 6.4% during the fourth quarter. MetLife Investment Management LLC now owns 38,532 shares of the oil and gas company's stock valued at $713,000 after purchasing an additional 2,311 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Delek US by 532.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,699 shares of the oil and gas company's stock valued at $253,000 after purchasing an additional 11,534 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Delek US by 21.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 54,042 shares of the oil and gas company's stock valued at $1,000,000 after purchasing an additional 9,600 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Delek US by 8.0% during the fourth quarter. Northern Trust Corp now owns 903,840 shares of the oil and gas company's stock valued at $16,721,000 after purchasing an additional 66,815 shares in the last quarter. Institutional investors own 97.01% of the company's stock.

Analysts Set New Price Targets

DK has been the subject of several analyst reports. The Goldman Sachs Group raised their price target on shares of Delek US from $15.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Cowen reissued a "sell" rating on shares of Delek US in a research report on Friday, August 8th. TD Cowen reduced their price target on shares of Delek US from $18.00 to $15.00 and set a "sell" rating for the company in a research 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. Finally, Scotiabank reissued a "sector perform" rating and set a $20.00 price target (up previously from $14.00) on shares of Delek US in a research report on Friday, July 11th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $23.77.

Delek US Stock Performance

Shares of Delek US stock traded up $0.05 on Thursday, hitting $31.96. 1,809,128 shares of the company's stock were exchanged, compared to its average volume of 1,710,062. The company has a 50-day simple moving average of $23.81 and a 200-day simple moving average of $18.91. The stock has a market capitalization of $1.92 billion, a PE ratio of -2.60 and a beta of 1.09. Delek US Holdings, Inc. has a 1 year low of $11.02 and a 1 year high of $32.48. The company has a debt-to-equity ratio of 10.48, a quick ratio of 0.50 and a current ratio of 0.80.

Delek US (NYSE:DK - Get Free Report) last issued its quarterly 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 business had revenue of $2.76 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted ($0.92) EPS. As a group, equities analysts anticipate that Delek US Holdings, Inc. will post -5.5 EPS 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 paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Monday, August 11th. Delek US's dividend payout ratio (DPR) is currently -8.30%.

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.