Luminus Management LLC Has $817,000 Stake in Delek US Holdings, Inc. (DK)
Luminus Management LLC lessened its stake in Delek US Holdings, Inc. (NYSE:DK) by 92.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 23,372 shares of the oil and gas company’s stock after selling 300,000 shares during the period. Luminus Management LLC’s holdings in Delek US were worth $817,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Macquarie Group Ltd. purchased a new position in shares of Delek US in the 3rd quarter valued at about $273,000. Ameriprise Financial Inc. increased its stake in Delek US by 371.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 458,456 shares of the oil and gas company’s stock worth $12,254,000 after buying an additional 361,162 shares in the last quarter. Magnetar Financial LLC increased its stake in Delek US by 149.0% during the 3rd quarter. Magnetar Financial LLC now owns 33,156 shares of the oil and gas company’s stock worth $886,000 after buying an additional 19,840 shares in the last quarter. New York State Common Retirement Fund increased its stake in Delek US by 4.8% during the 3rd quarter. New York State Common Retirement Fund now owns 121,916 shares of the oil and gas company’s stock worth $3,259,000 after buying an additional 5,555 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Delek US by 5.0% during the 3rd quarter. Legal & General Group Plc now owns 118,626 shares of the oil and gas company’s stock worth $3,166,000 after buying an additional 5,639 shares in the last quarter. 91.07% of the stock is owned by institutional investors and hedge funds.
DK has been the subject of a number of analyst reports. Zacks Investment Research upgraded Delek US from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Wednesday, January 17th. Royal Bank of Canada restated a “buy” rating and issued a $42.00 price target on shares of Delek US in a research report on Thursday, March 1st. Citigroup set a $46.00 price target on Delek US and gave the company a “buy” rating in a research report on Wednesday, February 28th. ValuEngine upgraded Delek US from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. Finally, Wells Fargo & Co upgraded Delek US from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a research report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $37.43.
Delek US (NYSE:DK) last announced its quarterly earnings data on Monday, February 26th. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.10. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Delek US had a return on equity of 5.99% and a net margin of 3.99%. The company’s revenue for the quarter was up 129.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.44) earnings per share. analysts anticipate that Delek US Holdings, Inc. will post 2.35 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Monday, March 12th will be paid a $0.20 dividend. This is a boost from Delek US’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, March 9th. Delek US’s dividend payout ratio (DPR) is presently 19.61%.
Delek US announced that its Board of Directors has initiated a stock repurchase plan on Monday, February 26th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In other news, EVP Avigal Soreq sold 3,091 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $36.00, for a total value of $111,276.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel L. Gordon sold 2,500 shares of the stock in a transaction on Monday, March 12th. The shares were sold at an average price of $37.57, for a total value of $93,925.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 265,591 shares of company stock worth $9,855,201. Insiders own 1.61% of the company’s stock.
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Delek US Profile
Delek US Holdings, Inc is a diversified downstream energy company. The Company has a broad platform consisting of refining, logistics, retail and wholesale marketing, renewables and asphalt operations. It operates through five segments: refining, logistics, asphalt, renewable and retail. Its refining assets consist of refineries operated in Tyler and Big Spring, Texas, El Dorado, Arkansas and Krotz Springs, Louisiana with a combined nameplate crude throughput capacity of 302,000 barrels per day.
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