PNC Financial Services Group Inc. Raises Holdings in Delek US Holdings, Inc. (NYSE:DK)

PNC Financial Services Group Inc. increased its stake in shares of Delek US Holdings, Inc. (NYSE:DK) by 8.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,500 shares of the oil and gas company’s stock after purchasing an additional 1,464 shares during the period. PNC Financial Services Group Inc.’s holdings in Delek US were worth $361,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rubric Capital Management LP acquired a new stake in shares of Delek US during the third quarter worth $37,500,000. Philosophy Capital Management LLC acquired a new stake in Delek US in the 3rd quarter worth about $21,471,000. FMR LLC grew its holdings in Delek US by 47.3% in the 3rd quarter. FMR LLC now owns 1,707,773 shares of the oil and gas company’s stock valued at $32,021,000 after buying an additional 548,777 shares during the period. Barclays PLC increased its stake in shares of Delek US by 51.5% during the 3rd quarter. Barclays PLC now owns 1,496,825 shares of the oil and gas company’s stock valued at $28,065,000 after acquiring an additional 508,719 shares during the last quarter. Finally, Clifford Capital Partners LLC purchased a new position in shares of Delek US during the 3rd quarter worth about $7,504,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Insiders Place Their Bets

In other Delek US news, CFO Mark Wayne Hobbs bought 2,800 shares of Delek US stock in a transaction dated Tuesday, March 11th. The stock was bought at an average cost of $13.70 per share, for a total transaction of $38,360.00. Following the purchase, the chief financial officer now owns 49,138 shares in the company, valued at $673,190.60. This represents a 6.04 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have bought 5,055 shares of company stock worth $70,787 in the last quarter. 1.80% of the stock is owned by corporate insiders.

Delek US Price Performance

Shares of NYSE DK opened at $17.46 on Friday. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.04 and a quick ratio of 0.67. Delek US Holdings, Inc. has a 1-year low of $13.40 and a 1-year high of $33.60. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -3.59 and a beta of 1.14. The business has a 50-day moving average of $17.47 and a 200-day moving average of $18.02.

Delek US (NYSE:DK) last released 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). The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The firm’s revenue was down 39.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.46) EPS. On average, equities analysts anticipate that Delek US Holdings, Inc. will post -5.5 EPS for the current fiscal year.

Delek US Announces Dividend

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 annualized dividend and a yield of 5.84%. The ex-dividend date of this dividend was Monday, March 3rd. Delek US’s dividend payout ratio (DPR) is -11.54%.

Analyst Ratings Changes

A number of research firms recently issued reports on DK. Wells Fargo & Company lowered their target price on shares of Delek US from $17.00 to $15.00 and set an “underweight” rating for the company in a report on Wednesday, February 26th. Piper Sandler lowered their price objective on shares of Delek US from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Wolfe Research raised Delek US from an “underperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Morgan Stanley reduced 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, March 14th. Finally, JPMorgan Chase & Co. upped their price target on Delek US from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Five equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.30.

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.