Van ECK Associates Corp Acquires 9,483 Shares of Delek US Holdings, Inc. $DK

Van ECK Associates Corp raised its holdings in shares of Delek US Holdings, Inc. (NYSE:DK) by 20.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,647 shares of the oil and gas company’s stock after purchasing an additional 9,483 shares during the quarter. Van ECK Associates Corp owned approximately 0.09% of Delek US worth $2,827,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Delek US by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company’s stock valued at $187,773,000 after buying an additional 38,577 shares during the last quarter. Williamson Legacy Group LLC acquired a new stake in Delek US during the fourth quarter worth approximately $1,095,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Delek US by 1,173.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 954,900 shares of the oil and gas company’s stock worth $28,322,000 after acquiring an additional 879,900 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Delek US by 281.5% during the first quarter. Y Intercept Hong Kong Ltd now owns 45,471 shares of the oil and gas company’s stock worth $2,049,000 after acquiring an additional 33,553 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Delek US by 118.0% in the first quarter. Bank of America Corp DE now owns 846,204 shares of the oil and gas company’s stock valued at $38,138,000 after purchasing an additional 458,004 shares during the last quarter. 97.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Weiss Ratings upgraded Delek US from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Citigroup reiterated a “neutral” rating on shares of Delek US in a research report on Thursday, August 6th. 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. Zacks Research upgraded shares of Delek US from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Mizuho raised their price target on shares of Delek US from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.09.

Delek US Price Performance

Shares of NYSE:DK opened at $71.95 on Friday. The firm has a 50 day moving average of $62.97 and a 200-day moving average of $49.91. Delek US Holdings, Inc. has a 12 month low of $25.85 and a 12 month high of $77.40. The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53. The stock has a market capitalization of $4.41 billion, a PE ratio of 20.21, a PEG ratio of 1.42 and a beta of 0.59.

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

Delek US Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were paid a $0.255 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.02 annualized dividend and a dividend yield of 1.4%. Delek US’s dividend payout ratio (DPR) is presently 28.65%.

Insider Activity at Delek US

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 value of $5,320,800.00. Following the transaction, the chief executive officer owned 231,486 shares in the company, valued at $15,396,133.86. The trade was a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary M. Jr. Sullivan sold 27,688 shares of the business’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $69.01, for a total value of $1,910,748.88. Following the transaction, the director directly owned 32,004 shares of the company’s stock, valued at approximately $2,208,596.04. The trade was a 46.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 153,645 shares of company stock worth $10,248,392 in the last three months. Insiders own 3.56% of the company’s stock.

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.