Seven Eight Capital LP Sells 27,064 Shares of Delek US Holdings, Inc. (NYSE:DK)

Seven Eight Capital LP lessened its holdings in Delek US Holdings, Inc. (NYSE:DK) by 72.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,070 shares of the oil and gas company’s stock after selling 27,064 shares during the quarter. Seven Eight Capital LP’s holdings in Delek US were worth $310,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Delek US news, Director Richard J. Marcogliese purchased 2,750 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was bought at an average price of $23.99 per share, with a total value of $65,972.50. Following the completion of the purchase, the director now directly owns 42,863 shares of the company’s stock, valued at approximately $1,028,283.37. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 2,854 shares of company stock valued at $71,078 over the last quarter. 1.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on DK shares. Piper Sandler reduced their price objective on shares of Delek US from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. Wolfe Research started coverage on shares of Delek US in a research report on Thursday, July 18th. They set an “underperform” rating and a $19.00 price objective for the company. Mizuho reduced their price target on shares of Delek US from $31.00 to $27.00 and set an “underperform” rating for the company in a research report on Thursday, June 20th. TD Cowen downgraded shares of Delek US from a “hold” rating to a “sell” rating and reduced their price target for the company from $25.00 to $20.00 in a research report on Monday, June 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Delek US from $25.00 to $23.00 and set an “underweight” rating for the company in a research report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Delek US presently has a consensus rating of “Hold” and an average target price of $25.50.

Delek US Stock Up 2.0 %

Shares of DK opened at $22.05 on Thursday. The business’s 50-day moving average price is $24.60 and its 200-day moving average price is $26.82. Delek US Holdings, Inc. has a twelve month low of $21.15 and a twelve month high of $33.60. 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 released its quarterly earnings data on Tuesday, May 7th. The oil and gas company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.15. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.28 billion. Delek US had a positive return on equity of 7.37% and a negative net margin of 0.48%. The business’s quarterly revenue was down 17.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.37 earnings per share. On average, analysts predict that Delek US Holdings, Inc. will post -2.23 earnings per share for the current year.

Delek US Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 17th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date was Thursday, May 16th. This is a positive change from Delek US’s previous quarterly dividend of $0.25. Delek US’s dividend payout ratio is -80.65%.

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.