Hsbc Holdings PLC Purchases Shares of 29,890 Delek US Holdings, Inc. $DK

Hsbc Holdings PLC acquired a new position in shares of Delek US Holdings, Inc. (NYSE:DK) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 29,890 shares of the oil and gas company’s stock, valued at approximately $1,568,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Delek US by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company’s stock valued at $187,773,000 after buying an additional 38,577 shares during the last quarter. Williamson Legacy Group LLC bought a new position in Delek US during the 4th quarter valued at $1,095,000. Bank of America Corp DE lifted its stake in Delek US by 118.0% during the 1st quarter. Bank of America Corp DE now owns 846,204 shares of the oil and gas company’s stock valued at $38,138,000 after acquiring an additional 458,004 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in Delek US by 281.5% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 45,471 shares of the oil and gas company’s stock worth $2,049,000 after acquiring an additional 33,553 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Delek US by 1,173.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 954,900 shares of the oil and gas company’s stock worth $28,322,000 after acquiring an additional 879,900 shares during the last quarter. 97.01% of the stock is owned by institutional investors.

Delek US Stock Up 2.3%

DK stock opened at $73.93 on Tuesday. The stock has a market cap of $4.53 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.43 and a beta of 0.57. The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53. The stock’s fifty day simple moving average is $61.34 and its two-hundred day simple moving average is $49.10. Delek US Holdings, Inc. has a 1-year low of $25.85 and a 1-year high of $75.24.

Delek US (NYSE:DK) last announced its 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. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.44 billion. Delek US had a return on equity of 109.03% and a net margin of 1.86%.The business’s revenue was up 47.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.56) EPS. Analysts expect that Delek US Holdings, Inc. will post 11.05 EPS for the current year.

Delek US Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a dividend of $0.255 per share. The ex-dividend date was Monday, August 3rd. This represents a $1.02 annualized dividend and a yield of 1.4%. Delek US’s dividend payout ratio is presently 28.65%.

Insider Activity at Delek US

In related news, EVP Mark Wayne Hobbs sold 20,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $64.59, for a total transaction of $1,291,800.00. Following the completion of the sale, the executive vice president owned 104,326 shares in the company, valued at approximately $6,738,416.34. This trade represents a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Reuven Spiegel sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $68.21, for a total transaction of $682,100.00. Following the sale, the executive vice president owned 36,435 shares of the company’s stock, valued at $2,485,231.35. This trade represents a 21.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 148,016 shares of company stock valued at $9,789,125 in the last 90 days. 3.56% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DK has been the subject of several analyst reports. Raymond James Financial increased their target price on shares of Delek US from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, July 13th. The Goldman Sachs Group raised their price target on shares of Delek US from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Citigroup restated a “neutral” rating on shares of Delek US in a report on Thursday, August 6th. TD Cowen upped their price objective on shares of Delek US from $58.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, Morgan Stanley increased their price objective on shares of Delek US from $41.00 to $45.00 and gave the company an “equal weight” rating in a research note on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $53.15.

About Delek US

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.