US Bancorp DE Sells 14,882 Shares of Delek US Holdings, Inc. $DK

Key Points

• US Bancorp DE significantly reduced its stake in Delek US Holdings, Inc. by 89.1%, selling 14,882 shares and holding only 1,824 shares valued at $27,000.
• Despite a challenging quarter, Delek US reported better-than-expected earnings with a loss of ($0.56) per share, beating the consensus estimate by $0.36 and generating $2.76 billion in revenue.
• The company declared a quarterly dividend of $0.255, representing a 4.1% yield, highlighting investor returns amidst fluctuating profitability.

US Bancorp DE decreased its holdings in Delek US Holdings, Inc. (NYSE:DK - Free Report) by 89.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,824 shares of the oil and gas company's stock after selling 14,882 shares during the quarter. US Bancorp DE's holdings in Delek US were worth $27,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in DK. Sterling Capital Management LLC grew its stake in shares of Delek US by 728.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,491 shares of the oil and gas company's stock worth $28,000 after acquiring an additional 1,311 shares during the period. CWM LLC boosted its holdings in Delek US by 100.9% in the first quarter. CWM LLC now owns 2,318 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 1,164 shares during the last quarter. Creative Financial Designs Inc. ADV bought a new stake in Delek US in the 1st quarter worth approximately $47,000. GAMMA Investing LLC raised its stake in 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 valued at $63,000 after buying an additional 3,746 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Delek US by 77.4% during the 1st quarter. Farther Finance Advisors LLC now owns 7,118 shares of the oil and gas company's stock valued at $110,000 after buying an additional 3,105 shares during the period. Hedge funds and other institutional investors own 97.01% of the company's stock.

Delek US Trading Up 8.1%

Delek US stock opened at $24.7970 on Thursday. Delek US Holdings, Inc. has a 12-month low of $11.02 and a 12-month high of $27.07. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -2.02 and a beta of 1.00. The firm has a 50 day moving average of $22.64 and a 200 day moving average of $18.33. The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 10.48.

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, beating the consensus estimate of ($0.92) by $0.36. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.92) earnings per share. As a group, research analysts predict that Delek US Holdings, Inc. will post -5.5 earnings per share for the current year.

Delek US Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, August 11th were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Monday, August 11th. Delek US's dividend payout ratio is presently -8.30%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DK shares. Mizuho upgraded Delek US from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $22.00 to $23.00 in a research report on Tuesday, May 13th. Morgan Stanley upped their price target on shares of Delek US from $15.00 to $19.00 and gave the company an "underweight" rating in a research report on Wednesday, July 16th. Piper Sandler increased their price objective on shares of Delek US from $17.00 to $27.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company boosted their target price on shares of Delek US from $11.00 to $15.00 and gave the company an "underweight" rating in a research report on Wednesday, June 11th. Finally, Citigroup reiterated a "neutral" rating and issued a $30.00 price target (up from $15.00) on shares of Delek US in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $20.35.

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.

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