BlackRock Inc. Acquires Shares of 5,416,899 Delek US Holdings, Inc. $DK

BlackRock Inc. bought a new position in shares of Delek US Holdings, Inc. (NYSE:DK) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,416,899 shares of the oil and gas company’s stock, valued at approximately $275,233,000. BlackRock Inc. owned about 0.09% of Delek US at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Royal Bank of Canada increased its stake in Delek US by 18.4% in the 1st quarter. Royal Bank of Canada now owns 278,774 shares of the oil and gas company’s stock worth $4,201,000 after buying an additional 43,379 shares during the period. AQR Capital Management LLC purchased a new position in shares of Delek US during the first quarter worth approximately $390,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Delek US by 3.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,190 shares of the oil and gas company’s stock worth $560,000 after acquiring an additional 1,102 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Delek US by 3,979.8% during the first quarter. Jones Financial Companies Lllp now owns 20,399 shares of the oil and gas company’s stock valued at $307,000 after acquiring an additional 19,899 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Delek US by 7.2% in the first 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 during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Citigroup reaffirmed a “neutral” rating on shares of Delek US in a research report on Thursday, August 6th. Raymond James Financial raised their price target on Delek US from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Morgan Stanley upped their price objective 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. TD Cowen raised their target price 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. Finally, Zacks Research upgraded shares of Delek US from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Delek US presently has a consensus rating of “Hold” and an average price target of $53.15.

Delek US Price Performance

NYSE DK opened at $70.78 on Thursday. The firm’s fifty day simple moving average is $59.52 and its two-hundred day simple moving average is $48.31. 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 12-month low of $25.66 and a 12-month high of $72.00. The firm has a market capitalization of $4.33 billion, a P/E ratio of 19.88, a P/E/G ratio of 1.47 and a beta of 0.57.

Delek US (NYSE:DK) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 109.03% and a net margin of 1.86%.The business’s quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.56) earnings per share. Analysts forecast that Delek US Holdings, Inc. will post 10.1 EPS for the current fiscal year.

Delek US Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Richard J. Marcogliese sold 2,000 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $71.05, for a total transaction of $142,100.00. Following the sale, the director owned 12,880 shares in the company, valued at approximately $915,124. The trade was a 13.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Avigal Soreq sold 80,000 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $66.51, for a total transaction of $5,320,800.00. Following the transaction, the chief executive officer owned 231,486 shares in the company, valued at approximately $15,396,133.86. This trade represents a 25.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 152,925 shares of company stock valued at $10,013,091. 3.56% of the stock is currently owned by corporate insiders.

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.