Bank of New York Mellon Corp Sells 292,740 Shares of Delek US Holdings, Inc. (NYSE:DK)

Bank of New York Mellon Corp lowered its position in shares of Delek US Holdings, Inc. (NYSE:DK) by 54.4% during the fourth quarter, HoldingsChannel reports. The fund owned 244,902 shares of the oil and gas company’s stock after selling 292,740 shares during the quarter. Bank of New York Mellon Corp’s holdings in Delek US were worth $4,531,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DK. KBC Group NV grew its position in Delek US by 66.3% during the 4th quarter. KBC Group NV now owns 3,859 shares of the oil and gas company’s stock worth $71,000 after acquiring an additional 1,538 shares during the last quarter. ARS Investment Partners LLC acquired a new position in Delek US during the 4th quarter worth about $185,000. Capstone Investment Advisors LLC acquired a new position in Delek US during the 3rd quarter worth about $193,000. Abel Hall LLC acquired a new position in Delek US during the 4th quarter worth about $196,000. Finally, XTX Topco Ltd acquired a new position in Delek US during the 3rd quarter worth about $238,000. Institutional investors own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on DK shares. Wolfe Research raised Delek US from an “underperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Mizuho cut their target price on Delek US from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Piper Sandler cut their target price on Delek US from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Morgan Stanley cut their target price on Delek US from $19.00 to $18.00 and set an “underweight” rating on the stock in a report on Friday. Finally, Wells Fargo & Company dropped their price objective on Delek US from $17.00 to $15.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 26th. Five equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $20.30.

Delek US Stock Up 2.2 %

Shares of NYSE:DK opened at $16.02 on Tuesday. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of -3.30 and a beta of 1.14. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.04 and a quick ratio of 0.67. The business’s 50-day moving average is $17.55 and its 200-day moving average is $18.06. Delek US Holdings, Inc. has a 1 year low of $13.40 and a 1 year high of $33.60.

Delek US (NYSE:DK) last posted its quarterly earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.53) by ($1.01). Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the company posted ($1.46) earnings per share. The firm’s quarterly revenue was down 39.8% compared to the same quarter last year. Equities research analysts predict that Delek US Holdings, Inc. will post -5.5 earnings per share for the current year.

Delek US Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, March 3rd were paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 6.37%. The ex-dividend date was Monday, March 3rd. Delek US’s dividend payout ratio (DPR) is currently -11.54%.

Insider Buying and Selling

In related news, CFO Mark Wayne Hobbs acquired 2,800 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $13.70 per share, with a total value of $38,360.00. Following the acquisition, the chief financial officer now owns 49,138 shares of the company’s stock, valued at approximately $673,190.60. This trade represents a 6.04 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have bought 5,055 shares of company stock valued at $70,787. 1.80% of the stock is owned by company insiders.

About Delek US

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through Refining, Logistics, and Retail segments. The Refining segment processes crude oil and other feedstock for the manufacture of various grades of gasoline, diesel fuel, aviation fuel, asphalt, and other petroleum-based products that are distributed through owned and third-party product terminal.