Delek US Holdings, Inc. (NYSE:DK) Shares Acquired by Seven Eight Capital LP

Seven Eight Capital LP increased its holdings in shares of Delek US Holdings, Inc. (NYSE:DK) by 304.9% in the second quarter, Holdings Channel reports. The firm owned 40,777 shares of the oil and gas company’s stock after acquiring an additional 30,707 shares during the period. Seven Eight Capital LP’s holdings in Delek US were worth $1,010,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Delek US in the fourth quarter valued at about $16,341,000. SIR Capital Management L.P. grew its position in Delek US by 37.2% in the second quarter. SIR Capital Management L.P. now owns 876,133 shares of the oil and gas company’s stock valued at $21,693,000 after acquiring an additional 237,734 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Delek US by 627.2% during the first quarter. Acadian Asset Management LLC now owns 266,663 shares of the oil and gas company’s stock valued at $8,191,000 after purchasing an additional 229,992 shares during the period. Highland Peak Capital LLC acquired a new position in shares of Delek US during the second quarter worth $5,241,000. Finally, F M Investments LLC purchased a new position in shares of Delek US in the second quarter valued at $4,304,000. 97.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Avigal Soreq bought 5,651 shares of the business’s stock in a transaction on Friday, August 9th. The stock was purchased at an average cost of $20.42 per share, for a total transaction of $115,393.42. Following the completion of the transaction, the chief executive officer now directly owns 188,881 shares of the company’s stock, valued at approximately $3,856,950.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Delek US Trading Down 3.0 %

NYSE:DK opened at $19.72 on Friday. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.98 and a quick ratio of 0.58. The firm has a market capitalization of $1.26 billion, a P/E ratio of -15.90 and a beta of 1.14. Delek US Holdings, Inc. has a 12-month low of $18.35 and a 12-month high of $33.60. The business has a 50 day simple moving average of $20.98 and a 200 day simple moving average of $25.16.

Delek US (NYSE:DK) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.50. The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.31 billion. Delek US had a negative return on equity of 4.53% and a negative net margin of 0.69%. The business’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.00 EPS. Equities research analysts predict that Delek US Holdings, Inc. will post -2.87 EPS for the current year.

Delek US Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were paid a $0.255 dividend. This is a positive change 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 5.17%. The ex-dividend date of this dividend was Monday, August 12th. Delek US’s dividend payout ratio is currently -82.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DK shares. Piper Sandler cut their price objective on shares of Delek US from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday. Wells Fargo & Company raised their price objective on Delek US from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Tuesday, September 3rd. Mizuho raised Delek US from an “underperform” rating to a “neutral” rating and cut their target price for the company from $28.00 to $26.00 in a research report on Monday, September 16th. TD Cowen decreased their price target on Delek US from $19.00 to $18.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. upgraded Delek US from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $23.00 to $26.00 in a research note on Tuesday, September 10th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $24.73.

Delek US Profile

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.