Empyrean Capital Partners LP Invests $9.41 Million in Delek US Holdings, Inc. $DK

Empyrean Capital Partners LP acquired a new stake in shares of Delek US Holdings, Inc. (NYSE:DK) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 208,700 shares of the oil and gas company’s stock, valued at approximately $9,406,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DK. Vanguard Group Inc. raised its stake in Delek US by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company’s stock valued at $187,773,000 after buying an additional 38,577 shares during the last quarter. Williamson Legacy Group LLC bought a new position in shares of Delek US during the 4th quarter valued at $1,095,000. Y Intercept Hong Kong Ltd boosted its stake in shares of Delek US by 281.5% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 45,471 shares of the oil and gas company’s stock worth $2,049,000 after buying an additional 33,553 shares during the last quarter. Burney Co. purchased a new position in shares of Delek US in the 4th quarter worth $2,198,000. Finally, Highbridge Capital Management LLC bought a new stake in shares of Delek US in the fourth quarter worth $1,093,000. Institutional investors own 97.01% of the company’s stock.

Delek US Price Performance

NYSE DK opened at $64.44 on Tuesday. Delek US Holdings, Inc. has a 12 month low of $19.81 and a 12 month high of $68.93. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of -70.82, a PEG ratio of 1.67 and a beta of 0.58. The company’s 50 day moving average is $50.69 and its two-hundred day moving average is $42.70. The company has a current ratio of 0.76, a quick ratio of 0.49 and a debt-to-equity ratio of 10.51.

Delek US (NYSE:DK) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.42) by $1.50. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.33 billion. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. The company’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the business posted ($2.32) earnings per share. As a group, research analysts anticipate that Delek US Holdings, Inc. will post 8.3 earnings per share for the current year.

Delek US Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be paid a dividend of $0.255 per share. The ex-dividend date is Monday, August 3rd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.6%. Delek US’s payout ratio is -112.09%.

Insider Buying and Selling

In other Delek US news, EVP Reuven Spiegel sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $44.36, for a total transaction of $443,600.00. Following the sale, the executive vice president directly owned 48,372 shares of the company’s stock, valued at $2,145,781.92. This trade represents a 17.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky Sutil sold 3,061 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $46.00, for a total value of $140,806.00. Following the sale, the director directly owned 31,239 shares in the company, valued at approximately $1,436,994. This represents a 8.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 39,270 shares of company stock worth $1,828,718 in the last three months. Corporate insiders own 3.56% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on DK. TD Cowen upped their price objective on Delek US from $58.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Weiss Ratings cut Delek US from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Citigroup boosted their price target on Delek US from $33.00 to $44.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. UBS Group upped their price target on shares of Delek US from $42.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, April 10th. Finally, Zacks Research upgraded shares of Delek US from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $51.92.

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.