Wellington Management Group LLP Takes Position in Delek US Holdings, Inc. $DK

Key Points

• Wellington Management established a new 209,874-share position in Delek US valued at approximately $10.7 million, while institutional investors collectively own 97.01% of the company.
• Delek US reported strong quarterly results, with earnings of $5.48 per share versus the $2.67 consensus estimate and revenue of $4.09 billion, up 47.9% year over year.
• Analysts maintain a Moderate Buy consensus, with an average price target of $59.09, even as the stock opened at $72.21; insiders sold 153,645 shares worth about $10.25 million during the latest quarter.

Wellington Management Group LLP purchased a new position in shares of Delek US Holdings, Inc. (NYSE:DK - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 209,874 shares of the oil and gas company's stock, valued at approximately $10,664,000. Wellington Management Group LLP owned 0.34% of Delek US at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Allworth Financial LP acquired a new position in Delek US during the second quarter valued at approximately $30,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Delek US in the 3rd quarter valued at $27,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Delek US by 95.6% in the 4th 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. EverSource Wealth Advisors LLC increased its stake in shares of Delek US by 173.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company's stock valued at $29,000 after purchasing an additional 614 shares during the last quarter. Finally, Focus Partners Wealth acquired a new position in shares of Delek US during the 3rd quarter worth $44,000. Institutional investors and hedge funds own 97.01% of the company's stock.

Insider Buying and Selling

In other Delek US news, CEO Avigal Soreq sold 80,000 shares of Delek US stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $66.51, for a total transaction of $5,320,800.00. Following the transaction, the chief executive officer directly owned 231,486 shares of the company's stock, valued at approximately $15,396,133.86. The trade was a 25.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J. Finnerty sold 1,457 shares of the company's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $64.70, for a total value of $94,267.90. Following the completion of the sale, the director owned 33,348 shares in the company, valued at $2,157,615.60. This trade represents a 4.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 153,645 shares of company stock valued at $10,248,392 over the last quarter. 3.56% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. The Goldman Sachs Group upped their price objective on Delek US from $73.00 to $83.00 and gave the stock a "buy" rating in a research report on Tuesday, August 18th. Mizuho boosted their target price on Delek US from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 11th. TD Cowen increased their target price on shares of Delek US from $58.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. lifted their price target on shares of Delek US from $57.00 to $62.00 and gave the company a "neutral" rating in a report on Tuesday, July 14th. Finally, Citigroup reiterated a "neutral" rating on shares of Delek US in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $59.09.

Delek US Stock Up 0.5%

Shares of NYSE DK opened at $72.21 on Tuesday. The company has a 50 day simple moving average of $63.87 and a 200 day simple moving average of $50.44. The firm has a market cap of $4.42 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 1.43 and a beta of 0.59. Delek US Holdings, Inc. has a 1 year low of $25.85 and a 1 year high of $77.40. The company has a debt-to-equity ratio of 7.53, a current ratio of 0.76 and a quick ratio of 0.47.

Delek US (NYSE:DK - Get Free Report) last posted its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share for the quarter, topping analysts' consensus estimates of $2.67 by $2.81. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same period in the previous year, the firm posted ($0.56) EPS. The company's revenue for the quarter was up 47.9% compared to the same quarter last year. On average, research analysts forecast that Delek US Holdings, Inc. will post 11.05 EPS for the current year.

Delek US Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a $0.255 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.02 annualized dividend and a dividend yield of 1.4%. Delek US's payout ratio 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.

Want to see what other hedge funds are holding DK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Delek US Holdings, Inc. (NYSE:DK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.