Delek US Holdings, Inc. (NYSE:DK) Short Interest Up 20.6% in September

Delek US Holdings, Inc. (NYSE:DK) saw a large growth in short interest in September. As of September 15th, there was short interest totalling 8,250,000 shares, a growth of 20.6% from the August 31st total of 6,840,000 shares. Based on an average daily volume of 1,130,000 shares, the short-interest ratio is currently 7.3 days. Approximately 13.1% of the company’s stock are short sold.

Delek US Price Performance

Shares of DK stock traded down $0.15 during mid-day trading on Monday, reaching $18.74. The company’s stock had a trading volume of 1,164,592 shares, compared to its average volume of 1,040,901. The firm’s 50-day moving average is $20.66 and its two-hundred day moving average is $24.90. The company has a market cap of $1.20 billion, a P/E ratio of -15.23 and a beta of 1.14. Delek US has a 1-year low of $18.35 and a 1-year high of $33.60. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.58 and a current ratio of 0.98.

Delek US (NYSE:DK) last released its quarterly 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. The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.31 billion. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 earnings per share. On average, research analysts predict that Delek US will post -3.19 earnings per share for the current year.

Delek US Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 5.44%. This is a boost from Delek US’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, August 12th. Delek US’s dividend payout ratio (DPR) is currently -82.26%.

Insider Activity

In other news, CEO Avigal Soreq acquired 5,651 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price of $20.42 per share, for a total transaction of $115,393.42. Following the completion of the acquisition, the chief executive officer now owns 188,881 shares of the company’s stock, valued at approximately $3,856,950.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Delek US

A number of institutional investors and hedge funds have recently bought and sold shares of DK. Encompass Capital Advisors LLC bought a new position in Delek US in the 2nd quarter worth approximately $22,833,000. SIR Capital Management L.P. raised its position in shares of Delek US by 37.2% during the second quarter. SIR Capital Management L.P. now owns 876,133 shares of the oil and gas company’s stock worth $21,693,000 after acquiring an additional 237,734 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Delek US during the second quarter valued at $19,806,000. Bridgeway Capital Management LLC lifted its stake in shares of Delek US by 3.1% during the fourth quarter. Bridgeway Capital Management LLC now owns 777,576 shares of the oil and gas company’s stock valued at $20,061,000 after acquiring an additional 23,509 shares during the period. Finally, Norges Bank bought a new position in Delek US in the fourth quarter valued at about $16,341,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Piper Sandler lowered their price target on Delek US from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Wells Fargo & Company lifted their target price on shares of Delek US from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Tuesday, September 3rd. Mizuho upgraded shares of Delek US from an “underperform” rating to a “neutral” rating and decreased their price target for the company from $28.00 to $26.00 in a report on Monday, September 16th. TD Cowen lowered their price target on Delek US from $19.00 to $18.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Finally, Scotiabank cut their price objective on Delek US from $27.00 to $25.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.73.

Delek US Company 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.