Norges Bank Makes New Investment in Delek US Holdings, Inc. $DK

Norges Bank bought a new stake in Delek US Holdings, Inc. (NYSE:DK) during the 4th quarter, Holdings Channel reports. The firm bought 1,630,950 shares of the oil and gas company’s stock, valued at approximately $48,374,000.

A number of other large investors also recently made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new stake in Delek US during the 3rd quarter worth approximately $27,000. EverSource Wealth Advisors LLC boosted its stake in Delek US by 173.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 614 shares during the period. Torren Management LLC acquired a new position in Delek US in the 4th quarter valued at $40,000. Focus Partners Wealth acquired a new position in Delek US in the 3rd quarter valued at $44,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Delek US during the 3rd quarter worth $59,000. Institutional investors own 97.01% of the company’s stock.

Delek US Stock Performance

NYSE:DK opened at $48.36 on Monday. The company has a market cap of $2.96 billion, a price-to-earnings ratio of -53.14, a PEG ratio of 0.33 and a beta of 0.60. Delek US Holdings, Inc. has a fifty-two week low of $18.94 and a fifty-two week high of $49.50. The company has a debt-to-equity ratio of 10.51, a quick ratio of 0.49 and a current ratio of 0.76. The stock has a fifty day moving average price of $43.85 and a 200-day moving average price of $37.97.

Delek US (NYSE:DK) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($1.42) by $1.50. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Delek US had a positive return on equity of 22.90% and a negative net margin of 0.48%.Delek US’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the business earned ($2.32) earnings per share. As a group, equities analysts anticipate that Delek US Holdings, Inc. will post 4.96 EPS for the current fiscal year.

Delek US Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, May 1st were issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, May 1st. Delek US’s dividend payout ratio (DPR) is currently -112.09%.

Insider Buying and Selling

In other news, EVP Reuven Spiegel sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $44.36, for a total transaction of $443,600.00. Following the completion of the sale, the executive vice president owned 48,372 shares of the company’s stock, valued at approximately $2,145,781.92. This represents a 17.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shlomo Zohar sold 7,343 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $46.00, for a total transaction of $337,778.00. Following the sale, the director owned 6,646 shares in the company, valued at $305,716. This represents a 52.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 58,601 shares of company stock worth $2,631,960. 3.56% of the stock is owned by company insiders.

Analyst Ratings Changes

DK has been the subject of a number of research reports. UBS Group lifted their target price on Delek US from $42.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. Wells Fargo & Company upped their price target on shares of Delek US from $54.00 to $59.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. TD Cowen dropped their price objective on shares of Delek US from $60.00 to $44.00 and set a “hold” rating for the company in a research note on Monday, April 27th. Raymond James Financial boosted their price objective on shares of Delek US from $47.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, March 25th. Finally, Zacks Research lowered shares of Delek US from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 28th. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $44.69.

Delek US Profile

Delek US Holdings, Inc (NYSE: DK) is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.