Delek US Holdings, Inc. (DK) Trading Down 5.5%
Delek US Holdings, Inc. (NYSE:DK) shares were down 5.5% during trading on Tuesday . The company traded as low as $23.99 and last traded at $24.18. Approximately 965,696 shares were traded during mid-day trading, a decline of 20% from the average daily volume of 1,204,500 shares. The stock had previously closed at $25.60.
A number of research analysts have commented on DK shares. Zacks Investment Research lowered Delek US Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 24th. BidaskClub lowered Delek US Holdings from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Barclays PLC reaffirmed an “equal weight” rating and issued a $28.00 price objective on shares of Delek US Holdings in a report on Wednesday, July 5th. Cowen and Company reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Delek US Holdings in a report on Thursday, August 17th. Finally, Goldman Sachs Group, Inc. (The) raised Delek US Holdings from a “neutral” rating to a “buy” rating and upped their price objective for the company from $26.00 to $30.00 in a report on Tuesday, May 16th. Thirteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Delek US Holdings presently has a consensus rating of “Hold” and an average price target of $26.38.
The company’s market cap is $1.50 billion. The stock has a 50 day moving average of $24.38 and a 200-day moving average of $24.63.
Delek US Holdings (NYSE:DK) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.37. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $944.29 million. Delek US Holdings had a negative net margin of 3.15% and a negative return on equity of 4.60%. Delek US Holdings’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.08) earnings per share. On average, equities research analysts anticipate that Delek US Holdings, Inc. will post ($0.18) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Monday, August 21st. Delek US Holdings’s dividend payout ratio (DPR) is presently -25.86%.
In other news, insider Jared Serff sold 1,136 shares of Delek US Holdings stock in a transaction on Friday, June 30th. The stock was sold at an average price of $26.80, for a total value of $30,444.80. Following the completion of the transaction, the insider now directly owns 13,683 shares in the company, valued at $366,704.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles H. Leonard sold 2,500 shares of Delek US Holdings stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $22.10, for a total value of $55,250.00. Following the completion of the transaction, the director now owns 23,035 shares of the company’s stock, valued at $509,073.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,149 shares of company stock valued at $126,989. 1.61% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in DK. Bank of Montreal Can grew its position in shares of Delek US Holdings by 42.2% in the first quarter. Bank of Montreal Can now owns 31,228 shares of the oil and gas company’s stock valued at $758,000 after purchasing an additional 9,266 shares in the last quarter. Nationwide Fund Advisors grew its position in Delek US Holdings by 23.2% during the first quarter. Nationwide Fund Advisors now owns 185,565 shares of the oil and gas company’s stock worth $4,504,000 after buying an additional 34,943 shares in the last quarter. Strs Ohio purchased a new position in Delek US Holdings during the first quarter worth about $737,000. Russell Investments Group Ltd. grew its position in Delek US Holdings by 2.7% during the first quarter. Russell Investments Group Ltd. now owns 745,455 shares of the oil and gas company’s stock worth $18,091,000 after buying an additional 19,627 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Delek US Holdings by 219.3% during the first quarter. Canada Pension Plan Investment Board now owns 160,300 shares of the oil and gas company’s stock worth $3,890,000 after buying an additional 110,100 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.
Delek US Holdings Company Profile
Delek US Holdings, Inc is a diversified downstream energy company. The Company has a broad platform consisting of refining, logistics, retail and wholesale marketing, renewables and asphalt operations. It operates through five segments: refining, logistics, asphalt, renewable and retail. Its refining assets consist of refineries operated in Tyler and Big Spring, Texas, El Dorado, Arkansas and Krotz Springs, Louisiana with a combined nameplate crude throughput capacity of 302,000 barrels per day.
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