Delek US Holdings Inc (NYSE:DK) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 6,351,700 shares, a growth of 33.2% from the July 31st total of 4,767,000 shares. Currently, 8.6% of the company’s shares are sold short. Based on an average daily volume of 1,330,000 shares, the short-interest ratio is currently 4.8 days.
In other news, COO Frederec Green sold 11,526 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $40.76, for a total value of $469,799.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Louis Labella sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $44.00, for a total transaction of $52,800.00. The disclosure for this sale can be found here. Insiders sold a total of 23,554 shares of company stock worth $974,576 in the last 90 days. Corporate insiders own 1.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its position in shares of Delek US by 3.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,350 shares of the oil and gas company’s stock valued at $338,000 after acquiring an additional 300 shares during the period. Rockefeller Capital Management L.P. increased its stake in Delek US by 159.4% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 773 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 475 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Delek US during the 2nd quarter valued at $28,000. Whittier Trust Co. of Nevada Inc. increased its stake in Delek US by 13.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 7,163 shares of the oil and gas company’s stock valued at $290,000 after purchasing an additional 827 shares in the last quarter. Finally, HGK Asset Management Inc. increased its stake in Delek US by 11.9% during the 2nd quarter. HGK Asset Management Inc. now owns 8,711 shares of the oil and gas company’s stock valued at $353,000 after purchasing an additional 924 shares in the last quarter.
Delek US (NYSE:DK) last released its earnings results on Monday, August 5th. The oil and gas company reported $1.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.40. Delek US had a net margin of 5.51% and a return on equity of 27.58%. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the company earned $0.92 EPS. Delek US’s quarterly revenue was down 5.9% compared to the same quarter last year. Equities research analysts expect that Delek US will post 3.93 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Friday, August 16th. This is an increase from Delek US’s previous quarterly dividend of $0.28. Delek US’s payout ratio is presently 24.17%.
DK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Delek US from $42.00 to $38.00 and set a “neutral” rating on the stock in a research report on Tuesday. Goldman Sachs Group downgraded shares of Delek US from a “neutral” rating to a “sell” rating and set a $37.00 price target on the stock. in a research report on Tuesday, June 25th. Cowen downgraded shares of Delek US from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 22nd. Finally, ValuEngine upgraded shares of Delek US from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Delek US currently has a consensus rating of “Hold” and a consensus target price of $45.37.
About Delek US
Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company's Refining segment processes crude oil and other purchased feedstocks 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 terminals.
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