Renaissance Technologies LLC Reduces Holdings in Delek US Holdings, Inc. $DK

Key Points

• Renaissance Technologies cut its Delek US stake by 73.1% in the first quarter, selling 432,500 shares and retaining 159,269 shares worth approximately $7.18 million. Institutional investors collectively own 97.01% of the company.
• Delek US shares opened at $66.05, near their 52-week high of $68.93, while the company announced a quarterly dividend of $0.255 per share, equivalent to a 1.5% yield.
• Analyst sentiment remains mixed, with a consensus rating of Hold and an average price target of $51.92, although several firms recently raised their targets, including Goldman Sachs to $73 and Raymond James to $70.

Renaissance Technologies LLC lowered its stake in shares of Delek US Holdings, Inc. (NYSE:DK - Free Report) by 73.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 159,269 shares of the oil and gas company's stock after selling 432,500 shares during the quarter. Renaissance Technologies LLC owned about 0.26% of Delek US worth $7,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of DK. Arrowstreet Capital Limited Partnership grew its holdings in shares of Delek US by 26.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,596,093 shares of the oil and gas company's stock worth $71,936,000 after acquiring an additional 335,892 shares during the period. Caxton Associates LLP grew its stake in Delek US by 240.4% in the first quarter. Caxton Associates LLP now owns 38,638 shares of the oil and gas company's stock worth $1,741,000 after purchasing an additional 27,288 shares during the period. Sei Investments Co. grew its stake in Delek US by 85.4% in the first quarter. Sei Investments Co. now owns 102,365 shares of the oil and gas company's stock worth $4,614,000 after purchasing an additional 47,159 shares during the period. Hillsdale Investment Management Inc. raised its holdings in Delek US by 60.1% in the first quarter. Hillsdale Investment Management Inc. now owns 215,390 shares of the oil and gas company's stock worth $9,708,000 after purchasing an additional 80,850 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in Delek US by 1,131.9% in the first quarter. Fifth Third Bancorp now owns 83,459 shares of the oil and gas company's stock worth $3,762,000 after purchasing an additional 76,684 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Delek US Stock Up 0.1%

Shares of Delek US stock opened at $66.05 on Wednesday. The company has a 50-day simple moving average of $53.34 and a two-hundred day simple moving average of $44.22. The stock has a market capitalization of $4.05 billion, a PE ratio of -72.58, a price-to-earnings-growth ratio of 1.74 and a beta of 0.57. Delek US Holdings, Inc. has a 52-week low of $19.81 and a 52-week high of $68.93. The company has a debt-to-equity ratio of 10.51, a quick ratio of 0.49 and a current ratio of 0.76.

Delek US Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, August 3rd. Delek US's dividend payout ratio (DPR) is currently -112.09%.

Analysts Set New Price Targets

A number of brokerages have recently commented on DK. UBS Group boosted their target price on shares of Delek US from $42.00 to $48.00 and gave the company a "neutral" rating in a report on Friday, April 10th. The Goldman Sachs Group lifted their price target on shares of Delek US from $58.00 to $73.00 and gave the company a "buy" rating in a research report on Friday, July 17th. Citigroup boosted their price objective on shares of Delek US from $33.00 to $44.00 and gave the stock a "neutral" rating in a research note on Monday, April 13th. Morgan Stanley upped their price objective on shares of Delek US from $41.00 to $45.00 and gave the stock an "equal weight" rating in a report on Friday, June 12th. Finally, Raymond James Financial raised their target price on shares of Delek US from $60.00 to $70.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $51.92.

Insider Buying and Selling at Delek US

In related news, Director Vicky Sutil sold 1,871 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $48.00, for a total transaction of $89,808.00. Following the sale, the director directly owned 29,368 shares of the company's stock, valued at $1,409,664. This trade represents a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Laurie Z. Tolson sold 4,921 shares of Delek US stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $46.30, for a total value of $227,842.30. Following the completion of the sale, the director owned 18,226 shares of the company's stock, valued at $843,863.80. The trade was a 21.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 39,270 shares of company stock worth $1,828,718. Insiders own 3.56% of the company's stock.

About Delek US

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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