Systematic Financial Management LP Sells 13,174 Shares of Delek US Holdings, Inc. (NYSE:DK)

Systematic Financial Management LP lowered its stake in shares of Delek US Holdings, Inc. (NYSE:DK) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 733,539 shares of the oil and gas company’s stock after selling 13,174 shares during the quarter. Systematic Financial Management LP owned approximately 1.14% of Delek US worth $18,162,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in DK. Encompass Capital Advisors LLC bought a new position in shares of Delek US during the 2nd quarter valued at approximately $22,833,000. SIR Capital Management L.P. grew its holdings in Delek US by 37.2% during the second quarter. SIR Capital Management L.P. now owns 876,133 shares of the oil and gas company’s stock valued at $21,693,000 after purchasing an additional 237,734 shares during the period. Point72 Asset Management L.P. purchased a new stake in Delek US in the second quarter worth $19,806,000. Bridgeway Capital Management LLC increased its position in Delek US by 3.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 777,576 shares of the oil and gas company’s stock worth $20,061,000 after buying an additional 23,509 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Delek US in the fourth quarter valued at $16,341,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Analyst Upgrades and Downgrades

DK has been the subject of several recent research reports. Morgan Stanley decreased their price objective on Delek US from $24.00 to $22.00 and set an “underweight” rating for the company in a report on Monday, September 16th. Piper Sandler reduced their target price on shares of Delek US from $25.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Wolfe Research began coverage on shares of Delek US in a research report on Thursday, July 18th. They issued an “underperform” rating and a $19.00 price target on the stock. Scotiabank cut their price objective on shares of Delek US from $27.00 to $25.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Finally, StockNews.com cut shares of Delek US from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Delek US has an average rating of “Hold” and a consensus target price of $24.73.

Insider Activity at Delek US

In related news, CEO Avigal Soreq bought 5,651 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average cost of $20.42 per share, for a total transaction of $115,393.42. Following the acquisition, the chief executive officer now directly owns 188,881 shares of the company’s stock, valued at approximately $3,856,950.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

Delek US Trading Down 0.5 %

Shares of Delek US stock opened at $18.89 on Friday. The company has a 50 day simple moving average of $20.66 and a two-hundred day simple moving average of $24.91. The firm has a market cap of $1.21 billion, a PE ratio of -15.23 and a beta of 1.14. Delek US Holdings, Inc. has a 1 year low of $18.35 and a 1 year high of $33.60. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.98 and a quick ratio of 0.58.

Delek US (NYSE:DK) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.50. The company had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Delek US had a negative return on equity of 4.53% and a negative net margin of 0.69%. Delek US’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same period last year, the firm posted $1.00 EPS. Analysts expect that Delek US Holdings, Inc. will post -3.19 earnings per share for the current fiscal year.

Delek US Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were paid a $0.255 dividend. This is a boost from Delek US’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.40%. Delek US’s dividend payout ratio is -82.26%.

About Delek US

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.