Delek US Holdings, Inc. (NYSE:DK) Sees Significant Decline in Short Interest

Delek US Holdings, Inc. (NYSE:DK) was the target of a large drop in short interest in June. As of June 15th, there was short interest totalling 6,080,000 shares, a drop of 18.9% from the May 31st total of 7,500,000 shares. Approximately 9.7% of the shares of the stock are short sold. Based on an average trading volume of 927,000 shares, the days-to-cover ratio is presently 6.6 days.

Delek US Price Performance

Shares of Delek US stock traded up $0.34 during midday trading on Tuesday, hitting $25.31. The company had a trading volume of 116,537 shares, compared to its average volume of 974,153. Delek US has a 1-year low of $21.68 and a 1-year high of $33.60. The business’s 50 day simple moving average is $26.46 and its two-hundred day simple moving average is $27.28. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 2.40.

Delek US (NYSE:DK) last posted its quarterly earnings data on Tuesday, May 7th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.15. Delek US had a negative net margin of 0.48% and a positive return on equity of 7.37%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the previous year, the firm posted $1.37 EPS. The business’s revenue was down 17.8% compared to the same quarter last year. On average, equities research analysts anticipate that Delek US will post 0.5 earnings per share for the current fiscal year.

Delek US Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 17th were given a $0.25 dividend. This is a boost from Delek US’s previous quarterly dividend of $0.25. This represents a $1.00 annualized dividend and a yield of 3.95%. The ex-dividend date was Thursday, May 16th. Delek US’s dividend payout ratio (DPR) is -80.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DK shares. Wells Fargo & Company reduced their price target on Delek US from $26.00 to $25.00 and set an “underweight” rating for the company in a report on Thursday, June 6th. Scotiabank raised their price target on shares of Delek US from $25.00 to $27.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Piper Sandler lowered 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 report on Friday, June 14th. UBS Group boosted their price target on Delek US from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. cut their price objective on Delek US from $26.00 to $25.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 21st. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $27.00.

Insider Transactions at Delek US

In related news, Director Richard J. Marcogliese acquired 2,750 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were purchased at an average price of $23.99 per share, for a total transaction of $65,972.50. Following the acquisition, the director now owns 42,863 shares in the company, valued at $1,028,283.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 2,854 shares of company stock valued at $78,241 in the last three months. 0.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Delek US

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Spirit of America Management Corp NY bought a new position in Delek US in the 4th quarter valued at $26,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Delek US during the first quarter valued at approximately $31,000. Strs Ohio bought a new stake in shares of Delek US during the fourth quarter worth $95,000. TFO Wealth Partners LLC increased its position in Delek US by 627,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 6,275 shares of the oil and gas company’s stock worth $162,000 after purchasing an additional 6,274 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in Delek US during the 1st quarter worth about $172,000. Institutional investors own 97.01% of the company’s stock.

About Delek US

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.