HITE Hedge Asset Management LLC Has $4.90 Million Stock Position in Delek US Holdings, Inc. $DK

HITE Hedge Asset Management LLC lessened its stake in shares of Delek US Holdings, Inc. (NYSE:DK) by 47.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,807 shares of the oil and gas company’s stock after selling 137,064 shares during the quarter. HITE Hedge Asset Management LLC owned about 0.25% of Delek US worth $4,899,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in DK. Aster Capital Management DIFC Ltd acquired a new position in Delek US during the 3rd quarter worth approximately $59,000. Savant Capital LLC bought a new position in Delek US in the third quarter worth approximately $206,000. Victory Capital Management Inc. acquired a new stake in Delek US in the third quarter valued at approximately $216,000. Merit Financial Group LLC bought a new stake in shares of Delek US during the third quarter valued at approximately $219,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Delek US during the third quarter valued at approximately $232,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on DK shares. Wall Street Zen upgraded Delek US from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Scotiabank set a $34.00 price target on shares of Delek US in a research note on Friday, January 16th. Morgan Stanley lowered their price objective on shares of Delek US from $40.00 to $38.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 27th. UBS Group lifted their price objective on shares of Delek US from $31.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, November 18th. Finally, Piper Sandler decreased their target price on shares of Delek US from $47.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $39.46.

Insider Buying and Selling at Delek US

In other Delek US news, CEO Avigal Soreq sold 50,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $41.08, for a total value of $2,054,000.00. Following the completion of the sale, the chief executive officer directly owned 251,678 shares of the company’s stock, valued at approximately $10,338,932.24. This represents a 16.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William J. Finnerty sold 5,392 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $42.75, for a total transaction of $230,508.00. Following the completion of the sale, the director owned 46,369 shares of the company’s stock, valued at approximately $1,982,274.75. This trade represents a 10.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 147,764 shares of company stock valued at $6,196,667 in the last quarter. 1.80% of the stock is owned by company insiders.

Delek US Trading Up 0.3%

Shares of Delek US stock opened at $42.01 on Friday. The company has a market capitalization of $2.52 billion, a P/E ratio of -120.04, a price-to-earnings-growth ratio of 18.45 and a beta of 0.75. The stock has a fifty day simple moving average of $33.29 and a 200 day simple moving average of $33.79. Delek US Holdings, Inc. has a 12-month low of $11.02 and a 12-month high of $45.74. The company has a current ratio of 0.82, a quick ratio of 0.53 and a debt-to-equity ratio of 5.89.

Delek US (NYSE:DK) last posted its quarterly earnings data on Friday, February 27th. The oil and gas company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.63. Delek US had a negative net margin of 0.21% and a negative return on equity of 13.55%. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the firm earned ($2.54) EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Delek US Holdings, Inc. will post -5.5 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, March 2nd were issued a dividend of $0.255 per share. The ex-dividend date was Monday, March 2nd. This represents a $1.02 annualized dividend and a yield of 2.4%. Delek US’s payout ratio is -291.43%.

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.