Connor Clark & Lunn Investment Management Ltd. Buys New Stake in Delek US Holdings, Inc. $DK

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Delek US Holdings, Inc. (NYSE:DK) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 452,406 shares of the oil and gas company’s stock, valued at approximately $22,987,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.74% of Delek US as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Thoroughbred Financial Services LLC lifted its holdings in shares of Delek US by 1.3% during the 4th quarter. Thoroughbred Financial Services LLC now owns 27,164 shares of the oil and gas company’s stock valued at $805,000 after purchasing an additional 348 shares during the last quarter. New York State Common Retirement Fund grew its stake in Delek US by 1.8% during the 4th quarter. New York State Common Retirement Fund now owns 22,048 shares of the oil and gas company’s stock worth $654,000 after buying an additional 400 shares during the last quarter. Aster Capital Management DIFC Ltd increased its position in Delek US by 23.2% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,259 shares of the oil and gas company’s stock valued at $67,000 after buying an additional 425 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in Delek US by 95.6% during 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 buying an additional 432 shares in the last quarter. Finally, Orion Porfolio Solutions LLC raised its stake in Delek US by 2.2% in the second quarter. Orion Porfolio Solutions LLC now owns 23,244 shares of the oil and gas company’s stock valued at $492,000 after buying an additional 507 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Delek US

In other news, Director William J. Finnerty sold 5,000 shares of Delek US stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $51.50, for a total transaction of $257,500.00. Following the completion of the transaction, the director directly owned 34,805 shares of the company’s stock, valued at $1,792,457.50. The trade was a 12.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Reuven Spiegel sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $68.21, for a total transaction of $682,100.00. Following the completion of the transaction, the executive vice president owned 36,435 shares of the company’s stock, valued at approximately $2,485,231.35. This represents a 21.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 123,629 shares of company stock worth $7,947,385. 3.56% of the stock is currently owned by insiders.

Delek US Price Performance

Shares of NYSE:DK opened at $67.98 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53. Delek US Holdings, Inc. has a twelve month low of $24.69 and a twelve month high of $72.00. The company’s 50 day moving average is $58.48 and its 200 day moving average is $47.80. The company has a market cap of $4.16 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 1.55 and a beta of 0.57.

Delek US (NYSE:DK) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $5.48 EPS for the quarter, beating the consensus estimate of $2.67 by $2.81. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.44 billion. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The business’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.56) EPS. On average, sell-side analysts forecast that Delek US Holdings, Inc. will post 10.1 EPS for the current year.

Delek US Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were paid a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.5%. Delek US’s dividend payout ratio (DPR) is presently 28.65%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on DK shares. JPMorgan Chase & Co. raised their price target on Delek US from $57.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. TD Cowen increased their price objective on shares of Delek US from $58.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Morgan Stanley lifted their target price on shares of Delek US from $41.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Friday, June 12th. Citigroup reissued a “neutral” rating on shares of Delek US in a report on Thursday, August 6th. Finally, Raymond James Financial upped their target price on Delek US from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Delek US has a consensus rating of “Hold” and an average price target of $53.15.

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.