Wedge Capital Management L L P NC Purchases 1,419 Shares of Delek US Holdings, Inc. (NYSE:DK)

Wedge Capital Management L L P NC boosted its holdings in Delek US Holdings, Inc. (NYSE:DK) by 5.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,363 shares of the oil and gas company’s stock after acquiring an additional 1,419 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Delek US were worth $551,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DK. Encompass Capital Advisors LLC purchased a new position in shares of Delek US during the second quarter valued at approximately $22,833,000. Point72 Asset Management L.P. purchased a new stake in Delek US during the 2nd quarter valued at $19,806,000. SIR Capital Management L.P. boosted its stake in shares of Delek US by 37.2% in the 2nd quarter. SIR Capital Management L.P. now owns 876,133 shares of the oil and gas company’s stock worth $21,693,000 after buying an additional 237,734 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Delek US by 627.2% in the first quarter. Acadian Asset Management LLC now owns 266,663 shares of the oil and gas company’s stock worth $8,191,000 after acquiring an additional 229,992 shares during the period. Finally, Highland Peak Capital LLC purchased a new stake in Delek US during the second quarter valued at $5,241,000. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Bank of America initiated coverage on Delek US in a research report on Thursday. They issued an “underperform” rating and a $15.00 target price on the stock. StockNews.com lowered shares of Delek US from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. TD Cowen decreased their price target on shares of Delek US from $19.00 to $18.00 and set a “sell” rating on the stock in a research report on Thursday, August 8th. Scotiabank cut their price objective on shares of Delek US from $25.00 to $22.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, Wolfe Research initiated coverage on Delek US in a report on Thursday, July 18th. They issued an “underperform” rating and a $19.00 target price on the stock. Six investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $22.00.

Delek US Stock Performance

NYSE:DK opened at $17.35 on Friday. The stock has a 50-day moving average price of $19.77 and a 200 day moving average price of $23.88. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 2.50. Delek US Holdings, Inc. has a 12-month low of $17.11 and a 12-month high of $33.60. The stock has a market capitalization of $1.11 billion, a P/E ratio of -13.99 and a beta of 1.13.

Delek US (NYSE:DK) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter last year, the business posted $1.00 earnings per share. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. Equities research analysts forecast that Delek US Holdings, Inc. will post -3.79 EPS for the current fiscal year.

Delek US Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were paid a $0.255 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.02 annualized dividend and a yield of 5.88%. This is a boost from Delek US’s previous quarterly dividend of $0.20. Delek US’s payout ratio is presently -82.26%.

Insider Buying and Selling at Delek US

In other news, CEO Avigal Soreq bought 5,651 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were bought 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 owns 188,881 shares of the company’s stock, valued at approximately $3,856,950.02. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

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.