Delek US Holdings, Inc. (NYSE:DK) Short Interest Down 7.2% in August

Delek US Holdings, Inc. (NYSE:DK) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totalling 6,840,000 shares, a drop of 7.2% from the August 15th total of 7,370,000 shares. Approximately 10.9% of the company’s shares are short sold. Based on an average daily trading volume, of 1,120,000 shares, the days-to-cover ratio is presently 6.1 days.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Scotiabank reduced their target price 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. Wells Fargo & Company upped their price target on Delek US from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 3rd. StockNews.com raised Delek US from a “sell” rating to a “hold” rating in a research note on Friday, September 13th. Piper Sandler decreased their target price on Delek US from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. Finally, Wolfe Research started coverage on Delek US in a research report on Thursday, July 18th. They issued an “underperform” rating and a $19.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Delek US has a consensus rating of “Hold” and an average target price of $25.27.

Insider Buying and Selling

In related news, CEO Avigal Soreq purchased 5,651 shares of Delek US stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $20.42 per share, for a total transaction of $115,393.42. Following the acquisition, the chief executive officer now directly owns 188,881 shares in the company, valued at $3,856,950.02. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC increased its holdings in shares of Delek US by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 32,845 shares of the oil and gas company’s stock valued at $813,000 after purchasing an additional 580 shares during the period. Shell Asset Management Co. grew its position in Delek US by 6.8% in the 1st quarter. Shell Asset Management Co. now owns 9,890 shares of the oil and gas company’s stock valued at $304,000 after buying an additional 628 shares during the last quarter. ProShare Advisors LLC increased its stake in Delek US by 7.1% in the 1st quarter. ProShare Advisors LLC now owns 11,412 shares of the oil and gas company’s stock valued at $351,000 after buying an additional 754 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in Delek US during the 1st quarter worth $31,000. Finally, Thoroughbred Financial Services LLC lifted its stake in shares of Delek US by 2.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 50,394 shares of the oil and gas company’s stock worth $1,247,000 after acquiring an additional 1,246 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Delek US Stock Up 0.5 %

DK traded up $0.11 on Wednesday, reaching $20.22. The company’s stock had a trading volume of 353,021 shares, compared to its average volume of 1,034,859. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 2.50. Delek US has a fifty-two week low of $18.35 and a fifty-two week high of $33.60. The stock has a 50 day moving average of $21.13 and a two-hundred day moving average of $25.27. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -16.21 and a beta of 1.14.

Delek US (NYSE:DK) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) EPS for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.50. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the firm posted $1.00 EPS. The company’s revenue was down 18.4% on a year-over-year basis. As a group, analysts forecast that Delek US will post -2.87 EPS for the current fiscal year.

Delek US Increases 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 $0.255 dividend. The ex-dividend date of this dividend was Monday, August 12th. This is a boost from Delek US’s previous quarterly dividend of $0.20. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.04%. Delek US’s dividend payout ratio is -82.26%.

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.