Comerica Bank Grows Holdings in Delek US Holdings, Inc. $DK

Comerica Bank boosted its holdings in Delek US Holdings, Inc. (NYSE:DK) by 66.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 75,324 shares of the oil and gas company’s stock after purchasing an additional 30,123 shares during the period. Comerica Bank’s holdings in Delek US were worth $2,234,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Orion Porfolio Solutions LLC raised its position in shares of Delek US by 2.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 23,244 shares of the oil and gas company’s stock valued at $492,000 after purchasing an additional 507 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Delek US by 0.9% during the third quarter. Alliancebernstein L.P. now owns 66,005 shares of the oil and gas company’s stock worth $2,130,000 after buying an additional 573 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Delek US in the third quarter worth $27,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Delek US by 8.8% in the second quarter. CANADA LIFE ASSURANCE Co now owns 11,782 shares of the oil and gas company’s stock worth $250,000 after buying an additional 955 shares during the last quarter. Finally, GF Fund Management CO. LTD. raised its holdings in Delek US by 5.9% in the fourth quarter. GF Fund Management CO. LTD. now owns 17,443 shares of the oil and gas company’s stock valued at $517,000 after acquiring an additional 968 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Insider Buying and Selling

In other news, EVP Joseph Israel sold 38,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $40.65, for a total transaction of $1,544,700.00. Following the completion of the transaction, the executive vice president directly owned 55,623 shares of the company’s stock, valued at approximately $2,261,074.95. This represents a 40.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shlomo Zohar sold 22,029 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $44.83, for a total value of $987,560.07. Following the sale, the director owned 18,989 shares in the company, valued at $851,276.87. The trade was a 53.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 172,095 shares of company stock valued at $7,257,409 over the last 90 days. 3.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

DK has been the subject of several recent analyst reports. The Goldman Sachs Group raised shares of Delek US from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $43.00 to $55.00 in a report on Friday, April 10th. TD Cowen cut their target price on shares of Delek US from $60.00 to $44.00 and set a “hold” rating on the stock in a research note on Monday, April 27th. Wall Street Zen upgraded Delek US from a “buy” rating to a “strong-buy” rating in a research note on Saturday. JPMorgan Chase & Co. lowered their price objective on Delek US from $42.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, January 15th. Finally, Piper Sandler cut their price objective on Delek US from $47.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $44.23.

Delek US Stock Up 2.1%

DK stock opened at $49.05 on Wednesday. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -53.91, a PEG ratio of 0.43 and a beta of 0.63. Delek US Holdings, Inc. has a 1-year low of $13.29 and a 1-year high of $49.50. The firm has a fifty day moving average price of $42.00 and a two-hundred day moving average price of $36.83. The company has a debt-to-equity ratio of 10.51, a current ratio of 0.76 and a quick ratio of 0.49.

Delek US (NYSE:DK) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 EPS for the quarter, beating the consensus estimate of ($1.42) by $1.50. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the business posted ($2.32) EPS. The company’s quarterly revenue was up .4% on a year-over-year basis. Research analysts predict that Delek US Holdings, Inc. will post 3.82 EPS for the current year.

Delek US Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, May 1st will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, May 1st. Delek US’s payout ratio is presently -112.09%.

Delek US Company 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.