Wakefield Asset Management LLLP Acquires New Stake in Delek US Holdings, Inc. (NYSE:DK)

Wakefield Asset Management LLLP bought a new stake in Delek US Holdings, Inc. (NYSE:DK) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 33,358 shares of the oil and gas company’s stock, valued at approximately $826,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. F M Investments LLC purchased a new position in Delek US during the second quarter worth about $4,304,000. Burney Co. purchased a new stake in Delek US in the second quarter valued at approximately $1,111,000. Bailard Inc. purchased a new position in Delek US during the second quarter worth approximately $201,000. Easterly Investment Partners LLC boosted its holdings in shares of Delek US by 26.7% in the 2nd quarter. Easterly Investment Partners LLC now owns 457,536 shares of the oil and gas company’s stock valued at $11,329,000 after purchasing an additional 96,531 shares during the last quarter. Finally, SummerHaven Investment Management LLC raised its position in shares of Delek US by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 32,845 shares of the oil and gas company’s stock worth $813,000 after buying an additional 580 shares during the period. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DK has been the topic of a number of research reports. Wolfe Research started coverage on Delek US in a report on Thursday, July 18th. They issued an “underperform” rating and a $19.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of Delek US from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Tuesday. Piper Sandler cut their target price on shares of Delek US from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. Scotiabank lowered their price target on Delek US from $27.00 to $25.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Finally, StockNews.com cut Delek US from a “hold” rating to a “sell” rating in a research note on Thursday. Six research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $25.40.

Insider Activity at Delek US

In other Delek US news, Director Richard J. Marcogliese purchased 2,750 shares of Delek US stock in a transaction dated Wednesday, June 12th. The shares were bought at an average cost of $23.99 per share, for a total transaction of $65,972.50. Following the transaction, the director now owns 42,863 shares in the company, valued at approximately $1,028,283.37. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Avigal Soreq bought 5,651 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $20.42 per share, for a total transaction of $115,393.42. Following the transaction, the chief executive officer now owns 188,881 shares in the company, valued at $3,856,950.02. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard J. Marcogliese acquired 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was acquired at an average cost of $23.99 per share, with a total value of $65,972.50. Following the completion of the acquisition, the director now directly owns 42,863 shares in the company, valued at $1,028,283.37. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 2,854 shares of company stock valued at $65,603. Corporate insiders own 1.80% of the company’s stock.

Delek US Stock Performance

Shares of DK opened at $19.52 on Friday. Delek US Holdings, Inc. has a 52-week low of $19.33 and a 52-week high of $33.60. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 2.50. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -15.73 and a beta of 1.19. The business’s 50 day moving average is $21.80 and its two-hundred day moving average is $25.66.

Delek US (NYSE:DK) last posted its quarterly earnings results 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. The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. The firm’s quarterly revenue was down 18.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 earnings per share. Analysts forecast that Delek US Holdings, Inc. will post -2.87 EPS for the current fiscal year.

Delek US Increases Dividend

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

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.