Wedge Capital Management L L P NC Sells 18,220 Shares of Delek US Holdings, Inc. $DK

Wedge Capital Management L L P NC lessened its holdings in Delek US Holdings, Inc. (NYSE:DK) by 45.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,687 shares of the oil and gas company’s stock after selling 18,220 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Delek US were worth $700,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. AlphaQuest LLC lifted its position in Delek US by 7,331.8% in the 2nd quarter. AlphaQuest LLC now owns 1,635 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 1,613 shares in the last quarter. CWM LLC boosted its position in Delek US by 56.8% during the 2nd quarter. CWM LLC now owns 3,634 shares of the oil and gas company’s stock worth $77,000 after acquiring an additional 1,316 shares during the last quarter. State of Wyoming bought a new position in shares of Delek US during the 1st quarter worth approximately $95,000. Eisler Capital Management Ltd. acquired a new stake in shares of Delek US in the first quarter valued at approximately $172,000. Finally, AREX Capital Management LP bought a new stake in shares of Delek US in the first quarter worth $226,000. 97.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DK. Raymond James Financial increased their price objective on shares of Delek US from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Cowen upgraded Delek US from a “sell” rating to a “hold” rating in a research note on Friday, September 19th. Bank of America upped their price objective on Delek US from $14.00 to $24.00 and gave the stock an “underperform” rating in a research note on Wednesday, September 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Delek US in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Delek US from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Delek US currently has a consensus rating of “Hold” and an average price target of $39.54.

Insider Transactions at Delek US

In other news, EVP Reuven Spiegel sold 27,000 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $41.36, for a total transaction of $1,116,720.00. Following the completion of the sale, the executive vice president owned 23,020 shares in the company, valued at approximately $952,107.20. This trade represents a 53.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert G. Wright sold 2,303 shares of Delek US stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $40.43, for a total transaction of $93,110.29. Following the sale, the executive vice president directly owned 38,966 shares of the company’s stock, valued at $1,575,395.38. The trade was a 5.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 59,354 shares of company stock worth $2,446,658. 1.80% of the stock is owned by insiders.

Delek US Stock Performance

DK opened at $29.55 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.86 and a debt-to-equity ratio of 7.12. Delek US Holdings, Inc. has a 12-month low of $11.02 and a 12-month high of $43.50. The business has a 50 day moving average of $36.79 and a 200-day moving average of $29.80. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of -3.62 and a beta of 0.82.

Delek US (NYSE:DK) last posted its earnings results on Tuesday, December 6th. The oil and gas company reported $0.05 earnings per share for the quarter. Delek US had a negative return on equity of 56.40% and a negative net margin of 4.83%.The business had revenue of $2.96 billion for the quarter. On average, equities research analysts expect that Delek US Holdings, Inc. will post -5.5 earnings per share for the current year.

Delek US Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, November 10th were given a $0.255 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.02 annualized dividend and a dividend yield of 3.5%. Delek US’s dividend payout ratio is presently -12.50%.

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.