Penn Mutual Asset Management Acquires 4,000 Shares of Delek US Holdings, Inc. (NYSE:DK)

Penn Mutual Asset Management increased its holdings in Delek US Holdings, Inc. (NYSE:DK) by 34.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,500 shares of the oil and gas company’s stock after purchasing an additional 4,000 shares during the period. Penn Mutual Asset Management’s holdings in Delek US were worth $291,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DK. Point72 Asset Management L.P. acquired a new stake in shares of Delek US in the second quarter worth $19,806,000. Easterly Investment Partners LLC lifted its position in Delek US by 26.7% during the 2nd quarter. Easterly Investment Partners LLC now owns 457,536 shares of the oil and gas company’s stock worth $11,329,000 after acquiring an additional 96,531 shares during the last quarter. Clifford Capital Partners LLC bought a new stake in Delek US during the third quarter valued at about $7,504,000. Burney Co. acquired a new stake in shares of Delek US in the second quarter valued at about $1,111,000. Finally, International Assets Investment Management LLC increased its stake in shares of Delek US by 1,753.2% in the third quarter. International Assets Investment Management LLC now owns 648,507 shares of the oil and gas company’s stock worth $12,160,000 after purchasing an additional 613,514 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DK has been the subject of several research analyst reports. StockNews.com cut shares of Delek US from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Piper Sandler cut their price target on Delek US from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Morgan Stanley decreased their price objective on Delek US from $24.00 to $22.00 and set an “underweight” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company cut their target price on Delek US from $21.00 to $18.00 and set an “underweight” rating for the company in a research note on Wednesday, October 9th. Finally, Mizuho raised Delek US from an “underperform” rating to a “neutral” rating and reduced their target price for the stock from $28.00 to $26.00 in a research report on Monday, September 16th. Six equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.00.

Delek US Stock Performance

Shares of NYSE:DK opened at $19.09 on Wednesday. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -3.93 and a beta of 1.22. The business’s fifty day moving average price is $18.17 and its two-hundred day moving average price is $21.08. Delek US Holdings, Inc. has a fifty-two week low of $15.36 and a fifty-two week high of $33.60. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.04 and a quick ratio of 0.67.

Delek US (NYSE:DK) last announced its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($1.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.71) by $0.26. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.23 billion. Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The firm’s quarterly revenue was down 34.3% on a year-over-year basis. During the same period last year, the firm posted $2.02 EPS. As a group, analysts predict that Delek US Holdings, Inc. will post -4.4 EPS for the current fiscal year.

Delek US Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Tuesday, November 12th were issued a dividend of $0.255 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.02 dividend on an annualized basis and a yield of 5.34%. Delek US’s dividend payout ratio is -20.99%.

Delek US Company Profile

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.