The Manufacturers Life Insurance Company Has $827,000 Stake in Delek US Holdings, Inc. (NYSE:DK)

The Manufacturers Life Insurance Company grew its holdings in shares of Delek US Holdings, Inc. (NYSE:DK) by 4.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,415 shares of the oil and gas company’s stock after purchasing an additional 1,282 shares during the period. The Manufacturers Life Insurance Company owned about 0.05% of Delek US worth $827,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in DK. Allspring Global Investments Holdings LLC acquired a new position in shares of Delek US in the 1st quarter valued at approximately $172,000. Bailard Inc. bought a new stake in Delek US during the second quarter worth $201,000. Capstone Investment Advisors LLC acquired a new stake in shares of Delek US in the 1st quarter valued at $265,000. Counterpoint Mutual Funds LLC bought a new position in shares of Delek US in the 1st quarter valued at $270,000. Finally, Chesapeake Capital Corp IL acquired a new position in shares of Delek US during the 2nd quarter worth $223,000. 97.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DK. Scotiabank reduced their price objective on Delek US from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Thursday. Wells Fargo & Company decreased their price target on shares of Delek US from $21.00 to $18.00 and set an “underweight” rating on the stock in a report on Wednesday, October 9th. Wolfe Research initiated coverage on shares of Delek US in a research note on Thursday, July 18th. They issued an “underperform” rating and a $19.00 price objective for the company. TD Cowen decreased their target price on shares of Delek US from $19.00 to $18.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Finally, StockNews.com downgraded shares of Delek US from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.55.

Delek US Trading Up 2.1 %

Shares of DK stock opened at $19.50 on Monday. The company has a market cap of $1.25 billion, a P/E ratio of -15.73 and a beta of 1.13. Delek US Holdings, Inc. has a fifty-two week low of $18.25 and a fifty-two week high of $33.60. The stock has a 50 day simple moving average of $19.99 and a two-hundred day simple moving average of $24.15. 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 issued its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same period in the prior year, the firm earned $1.00 earnings per share. Delek US’s revenue was down 18.4% on a year-over-year basis. Research analysts forecast that Delek US Holdings, Inc. will post -3.79 earnings per share for the current year.

Delek US Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were issued a $0.255 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.02 annualized dividend and a yield of 5.23%. This is a positive change from Delek US’s previous quarterly dividend of $0.20. Delek US’s dividend payout ratio is presently -82.26%.

Insider Buying and Selling at Delek US

In other Delek US news, CEO Avigal Soreq acquired 5,651 shares of Delek US stock in a transaction dated 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 acquisition, the chief executive officer now directly owns 188,881 shares of the company’s stock, valued at $3,856,950.02. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

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.