Royal Bank of Canada Lowers Holdings in Delek US Holdings, Inc. $DK

Royal Bank of Canada reduced its stake in Delek US Holdings, Inc. (NYSE:DK) by 39.3% during the first quarter, HoldingsChannel reports. The fund owned 62,232 shares of the oil and gas company’s stock after selling 40,370 shares during the period. Royal Bank of Canada’s holdings in Delek US were worth $2,805,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC bought a new position in Delek US in the 1st quarter worth about $390,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Delek US by 3.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,190 shares of the oil and gas company’s stock valued at $560,000 after purchasing an additional 1,102 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Delek US by 3,979.8% during the 1st quarter. Jones Financial Companies Lllp now owns 20,399 shares of the oil and gas company’s stock valued at $307,000 after purchasing an additional 19,899 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Delek US by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,871 shares of the oil and gas company’s stock valued at $2,213,000 after purchasing an additional 9,827 shares in the last quarter. Finally, Norges Bank purchased a new position in Delek US in the second quarter worth about $435,000. 97.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DK has been the topic of a number of recent analyst reports. Raymond James Financial increased their price target on shares of Delek US from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Morgan Stanley boosted 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. Citigroup reaffirmed a “neutral” rating on shares of Delek US in a research report on Thursday, August 6th. Mizuho increased their target price on Delek US from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Finally, TD Cowen lifted their target price on Delek US from $58.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $52.38.

Delek US Stock Performance

Shares of NYSE DK opened at $65.35 on Monday. The firm’s 50-day moving average price is $56.03 and its 200-day moving average price is $46.19. The company has a quick ratio of 0.47, a current ratio of 0.76 and a debt-to-equity ratio of 7.53. The company has a market cap of $4.00 billion, a PE ratio of 18.36, a PEG ratio of 1.42 and a beta of 0.57. Delek US Holdings, Inc. has a 52-week low of $21.07 and a 52-week high of $68.93.

Delek US (NYSE:DK) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 EPS 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 during the quarter, compared to analyst estimates of $3.44 billion. During the same period in the previous year, the business posted ($0.56) earnings per share. The business’s revenue for the quarter was up 47.9% on a year-over-year basis. As a group, analysts anticipate that Delek US Holdings, Inc. will post 10.1 EPS for the current year.

Delek US Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, August 3rd. Delek US’s payout ratio is 28.65%.

Insider Buying and Selling

In other news, Director William J. Finnerty sold 5,000 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $51.50, for a total transaction of $257,500.00. Following the transaction, the director directly owned 34,805 shares of the company’s stock, valued at $1,792,457.50. This represents a 12.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky Sutil sold 1,871 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $48.00, for a total value of $89,808.00. Following the completion of the transaction, the director owned 29,368 shares in the company, valued at approximately $1,409,664. This trade represents a 5.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 13,629 shares of company stock valued at $652,685. 3.56% of the stock is currently owned by insiders.

Delek US 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.