Delek US Holdings, Inc. $DK Stock: Range Financial Group LLC Reduces Holdings

Range Financial Group LLC reduced its position in Delek US Holdings, Inc. (NYSE:DK) by 90.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,902 shares of the oil and gas company’s stock after selling 28,900 shares during the quarter. Range Financial Group LLC’s holdings in Delek US were worth $207,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Delek US in the second quarter valued at $275,233,000. Arrowstreet Capital Limited Partnership increased its stake in Delek US by 26.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,596,093 shares of the oil and gas company’s stock worth $71,936,000 after acquiring an additional 335,892 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Delek US by 19.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,136,720 shares of the oil and gas company’s stock worth $51,232,000 after acquiring an additional 181,820 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Delek US by 118.0% in the 1st quarter. Bank of America Corp DE now owns 846,204 shares of the oil and gas company’s stock worth $38,138,000 after purchasing an additional 458,004 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Delek US in the 2nd quarter worth about $22,987,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on DK shares. Wells Fargo & Company lifted their price objective on Delek US from $82.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, October 14th. Raymond James Financial boosted their target price on Delek US from $72.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, September 14th. Freedom Broker began coverage on shares of Delek US in a research report on Wednesday, October 7th. They set a “hold” rating and a $86.00 target price for the company. Morgan Stanley raised their price target on shares of Delek US from $45.00 to $81.00 and gave the company an “equal weight” rating in a report on Monday, September 14th. Finally, TD Cowen raised their price target on shares of Delek US from $76.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.83.

Insider Activity at Delek US

In other news, EVP Mark Hobbs sold 20,000 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $64.59, for a total value of $1,291,800.00. Following the completion of the sale, the executive vice president owned 104,326 shares of the company’s stock, valued at $6,738,416.34. This represents a 16.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky Sutil sold 6,397 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $71.50, for a total value of $457,385.50. Following the completion of the sale, the director directly owned 26,407 shares of the company’s stock, valued at $1,888,100.50. The trade was a 19.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 163,377 shares of company stock valued at $11,082,485 over the last 90 days. Corporate insiders own 3.56% of the company’s stock.

Delek US Stock Performance

NYSE:DK opened at $78.07 on Thursday. The firm’s fifty day simple moving average is $73.15 and its 200 day simple moving average is $58.06. The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53. Delek US Holdings, Inc. has a twelve month low of $25.85 and a twelve month high of $82.27. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 0.34 and a beta of 0.62.

Delek US (NYSE:DK) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $2.81. Delek US had a return on equity of 109.03% and a net margin of 1.86%. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same period in the prior year, the firm earned ($0.56) EPS. The firm’s quarterly revenue was up 47.9% compared to the same quarter last year. As a group, equities research analysts expect that Delek US Holdings, Inc. will post 17.77 earnings per share for the current fiscal year.

Delek US Profile

Delek US Holdings, Inc is a downstream energy company headquartered in Brentwood, Tennessee. The company operates petroleum refineries and related logistics assets, producing and transporting fuels and other refined petroleum products for markets primarily in the southern United States.

Through its refining operations, Delek processes crude oil into products such as gasoline, diesel, jet fuel and asphalt. Its logistics business, conducted in part through Delek Logistics Partners, owns and operates pipelines, crude oil gathering systems, storage terminals, transportation assets and other infrastructure that supports the movement of crude oil and refined products.

Delek has also operated convenience stores and fuel stations, particularly in Texas and neighboring states, under brands including DK and Alon.