Delek US Holdings, Inc. $DK Stock Holdings Lowered by Hennessy Advisors Inc.

Hennessy Advisors Inc. decreased its stake in Delek US Holdings, Inc. (NYSE:DK) by 8.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 183,000 shares of the oil and gas company’s stock after selling 17,900 shares during the quarter. Hennessy Advisors Inc.’s holdings in Delek US were worth $13,061,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Allworth Financial LP purchased a new position in Delek US in the 2nd quarter worth approximately $30,000. Carolina Wealth Advisors LLC acquired a new stake in Delek US in the third quarter valued at approximately $38,000. Fortitude Family Office LLC raised its stake in shares of Delek US by 223.7% during the third quarter. Fortitude Family Office LLC now owns 547 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 378 shares during the period. IFP Advisors Inc raised its stake in shares of Delek US by 842.7% during the third quarter. IFP Advisors Inc now owns 707 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 632 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Delek US by 1,327.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,955 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 1,818 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Delek US Stock Down 0.2%

DK stock opened at $73.39 on Monday. Delek US Holdings, Inc. has a twelve month low of $25.85 and a twelve month high of $82.27. 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 company has a market capitalization of $4.49 billion, a P/E ratio of 20.62, a PEG ratio of 0.54 and a beta of 0.61. The firm has a 50 day simple moving average of $74.00 and a 200-day simple moving average of $52.81.

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 during the quarter, compared to analyst estimates of $3.44 billion. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The business’s revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.56) earnings per share. On average, equities research analysts predict that Delek US Holdings, Inc. will post 18.62 earnings per share for the current fiscal year.

Delek US Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Stockholders of record on Tuesday, November 10th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, November 10th. This is an increase from Delek US’s previous quarterly dividend of $0.2550. Delek US’s payout ratio is presently 28.65%.

Insider Buying and Selling

In related news, EVP Reuven Spiegel sold 7,500 shares of Delek US stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $73.21, for a total value of $549,075.00. Following the completion of the transaction, the executive vice president directly owned 28,935 shares in the company, valued at approximately $2,118,331.35. This trade represents a 20.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vicky Sutil sold 6,397 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $71.50, for a total value of $457,385.50. Following the completion of the sale, the director directly owned 26,407 shares of the company’s stock, valued at approximately $1,888,100.50. This represents a 19.50% decrease in their ownership of the stock. 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 three months, insiders have sold 163,377 shares of company stock worth $11,082,485. 3.56% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DK. The Goldman Sachs Group upped their target price on shares of Delek US from $83.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, October 15th. Wells Fargo & Company boosted their price objective on shares of Delek US from $82.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, October 14th. Mizuho cut shares of Delek US from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $66.00 to $83.00 in a research report on Thursday, October 8th. JPMorgan Chase & Co. raised their target price on Delek US from $57.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Finally, TD Cowen lifted their target price on Delek US from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Delek US currently has a consensus rating of “Moderate Buy” and an average price target of $75.00.

About Delek US

Delek US Holdings, Inc is a downstream energy company headquartered in Brentwood, Tennessee. The company operates petroleum refineries and related logistics assets, producing and transporting fuels and other refined petroleum products for markets primarily in the southern United States.

Through its refining operations, Delek processes crude oil into products such as gasoline, diesel, jet fuel and asphalt. Its logistics business, conducted in part through Delek Logistics Partners, owns and operates pipelines, crude oil gathering systems, storage terminals, transportation assets and other infrastructure that supports the movement of crude oil and refined products.

Delek has also operated convenience stores and fuel stations, particularly in Texas and neighboring states, under brands including DK and Alon.