Allianz Asset Management GmbH Has $47.57 Million Stake in Delek US Holdings, Inc. $DK

Allianz Asset Management GmbH increased its stake in shares of Delek US Holdings, Inc. (NYSE:DK) by 40.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,474,083 shares of the oil and gas company’s stock after buying an additional 423,017 shares during the quarter. Allianz Asset Management GmbH owned about 2.45% of Delek US worth $47,569,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ion Asset Management Ltd. lifted its position in shares of Delek US by 1.8% during the 2nd quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company’s stock valued at $79,296,000 after acquiring an additional 67,490 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its stake in Delek US by 113.5% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,601,777 shares of the oil and gas company’s stock valued at $33,926,000 after purchasing an additional 851,458 shares in the last quarter. Systematic Financial Management LP lifted its position in Delek US by 0.3% during the second quarter. Systematic Financial Management LP now owns 914,458 shares of the oil and gas company’s stock worth $19,368,000 after purchasing an additional 3,026 shares during the period. Clifford Capital Partners LLC grew its stake in Delek US by 1.9% during the second quarter. Clifford Capital Partners LLC now owns 807,249 shares of the oil and gas company’s stock worth $17,098,000 after buying an additional 14,872 shares in the last quarter. Finally, Callodine Capital Management LP grew its stake in Delek US by 6.3% during the second quarter. Callodine Capital Management LP now owns 717,245 shares of the oil and gas company’s stock worth $15,191,000 after buying an additional 42,584 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Insider Transactions at Delek US

In related news, EVP Robert G. Wright sold 5,643 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $41.46, for a total value of $233,958.78. Following the sale, the executive vice president owned 41,269 shares of the company’s stock, valued at $1,711,012.74. The trade was a 12.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Joseph Israel sold 20,028 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $41.12, for a total value of $823,551.36. Following the transaction, the executive vice president directly owned 62,793 shares of the company’s stock, valued at approximately $2,582,048.16. This represents a 24.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 59,354 shares of company stock worth $2,446,658. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DK. Scotiabank set a $34.00 price target on shares of Delek US in a report on Friday, January 16th. Piper Sandler cut their target price on Delek US from $47.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Wells Fargo & Company lifted their price target on Delek US from $43.00 to $53.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Raymond James Financial upped their price objective on Delek US from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Finally, Citigroup reduced their price objective on Delek US from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, January 26th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $38.85.

Delek US Stock Performance

NYSE:DK opened at $32.75 on Thursday. The stock’s 50-day moving average is $31.39 and its 200-day moving average is $31.20. Delek US Holdings, Inc. has a 1-year low of $11.02 and a 1-year high of $43.50. The company has a current ratio of 0.86, a quick ratio of 0.58 and a debt-to-equity ratio of 7.12. The stock has a market cap of $1.97 billion, a P/E ratio of -4.01 and a beta of 0.84.

Delek US (NYSE:DK) last posted its earnings results on Friday, November 7th. The oil and gas company reported $7.13 EPS for the quarter, topping the consensus estimate of $0.28 by $6.85. Delek US had a negative net margin of 4.83% and a negative return on equity of 56.40%. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same period last year, the company earned ($1.45) EPS. The firm’s revenue was down 5.1% compared to the same quarter last year. Equities research analysts anticipate that Delek US Holdings, Inc. will post -5.5 earnings per share for the current year.

Delek US Profile

Delek US Holdings, Inc (NYSE: DK) is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.