Shares of Delek US Holdings, Inc. (NYSE:DK) sold by Acadian Asset Management LLC

VaselineSeptember 14, 2024

0 4 minutes read

Acadian Asset Management LLC reduced its holdings in shares of Delek US Holdings, Inc. (NYSE:DK – Free Report) by 54.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 120,180 shares of the oil and gas company’s stock after selling 146,483 shares during the quarter. Acadian Asset Management LLC’s holdings in Delek US were worth $2,974,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have recently made changes to their positions in the company. Wakefield Asset Management LLLP bought a new position in Delek US during the second quarter valued at $826,000. FM Investments LLC acquired a new stake in shares of Delek US in the second quarter valued at about $4,304,000. Burney Co. bought a new position in shares of Delek US in the second quarter valued at about $1,111,000. Bailard Inc. purchased a new position in Delek US in the second quarter valued at approximately $201,000. Finally, Easterly Investment Partners LLC boosted its stake in shares of Delek US by 26.7% during the second quarter. Easterly Investment Partners LLC now owns 457,536 shares of the oil and gas company’s stock valued at $11,329,000 after buying an additional 96,531 shares during the last quarter. 97.01% of the shares are currently owned by hedge funds and other institutional investors.

Insider buying and selling

In other Delek US news, CEO Avigal Soreq acquired 5,651 shares of the business’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $20.42 per share, with a total value of $115,393.42. Following the purchase, the chief executive officer now owns 188,881 shares of the company’s stock, valued at $3,856,950.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of shares are owned by corporate insiders.

The Wall Street analyst weighs in

Want more great investment ideas?

Several brokerages have recently issued reports on DK. TD Cowen reduced their price objective on Delek US from $19.00 to $18.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Scotiabank decreased their price target on Delek US from $27.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Wolfe Research began coverage on Delek US in a research report on Thursday, July 18th. They issued an “underperform” rating and a $19.00 target price on the stock. StockNews.com raised shares of Delek US from a “sell” rating to a “hold” rating in a report on Friday. Finally, Piper Sandler decreased their price objective on shares of Delek US from $30.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $25.70, based on data from MarketBeat.

Check out our latest review of Delek US

US Delek stocks up 2.8%

Shares of DK stock opened at $19.41 on Friday. The company’s 50-day moving average is $21.25, and its two-hundred-day moving average is $25.35. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -15.65 and a beta of 1.14. Delek US Holdings, Inc. it has a 52-week low of $18.35 and a 52-week high of $33.60. The company has a current ratio of 0.98, a quick ratio of 0.58, and a debt-to-equity ratio of 2.50.

Delek US (NYSE:DK – Get Free Report ) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($1.42) by $0.50. The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Delek US had a negative return on equity of 4.53% and a negative net margin of 0.69%. The company’s quarterly revenue was down 18.4% compared to the same quarter last year. In the same quarter last year, the company earned $1.00 per share. On average, analysts estimate that Delek US Holdings, Inc. will post -2.87 earnings per share for the current fiscal year.

Delek US raises dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were given a dividend of $0.255 per share. The ex-dividend date was Monday, August 12. This represents an annualized dividend of $1.02 and a yield of 5.26%. This is a boost from Delek US’s previous quarterly dividend of $0.20. Delek US’s dividend payout ratio (DPR) is currently -82.26%.

Delek USA Company Profile

(Free Report)

Delek US Holdings, Inc is engaged in integrated downstream energy businesses in the United States. The company operates through refining, logistics and retail segments. The Refining segment processes crude oil and other feedstocks to manufacture various grades of gasoline, diesel, jet fuel, asphalt and other petroleum-based products that are distributed through owned and third-party product terminals.