PNC Financial Services Group Inc. Has $307,000 Stake in Delek US Holdings, Inc. (NYSE:DK)

PNC Financial Services Group Inc. lowered its stake in Delek US Holdings, Inc. (NYSE:DK) by 15.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,894 shares of the oil and gas company’s stock after selling 2,098 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Delek US were worth $307,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hsbc Holdings PLC grew its position in Delek US by 47.5% during the 3rd quarter. Hsbc Holdings PLC now owns 18,303 shares of the oil and gas company’s stock worth $518,000 after acquiring an additional 5,891 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Delek US by 830.6% during the third quarter. Acadian Asset Management LLC now owns 9,874 shares of the oil and gas company’s stock valued at $279,000 after purchasing an additional 8,813 shares in the last quarter. Kennedy Capital Management LLC grew its holdings in shares of Delek US by 3.0% during the third quarter. Kennedy Capital Management LLC now owns 355,586 shares of the oil and gas company’s stock worth $10,102,000 after purchasing an additional 10,196 shares during the last quarter. Seven Eight Capital LP raised its holdings in Delek US by 182.1% in the 3rd quarter. Seven Eight Capital LP now owns 81,852 shares of the oil and gas company’s stock valued at $2,325,000 after buying an additional 52,839 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Delek US during the 3rd quarter worth approximately $7,464,000. 97.01% of the stock is owned by institutional investors.

Delek US Price Performance

DK opened at $24.76 on Monday. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.04 and a quick ratio of 0.64. The firm has a market capitalization of $1.59 billion, a P/E ratio of -19.97 and a beta of 1.28. Delek US Holdings, Inc. has a fifty-two week low of $21.68 and a fifty-two week high of $33.60. The company’s 50-day moving average is $26.46 and its 200 day moving average is $27.28.

Delek US (NYSE:DK) last issued its quarterly earnings results on Tuesday, May 7th. The oil and gas company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.15. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.28 billion. Delek US had a positive return on equity of 7.37% and a negative net margin of 0.48%. Delek US’s revenue was down 17.8% on a year-over-year basis. During the same period last year, the business posted $1.37 earnings per share. Research analysts expect that Delek US Holdings, Inc. will post 0.5 earnings per share for the current fiscal year.

Delek US Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.04%. This is a positive change from Delek US’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, May 16th. Delek US’s payout ratio is currently -80.65%.

Insider Buying and Selling at Delek US

In related news, Director Richard J. Marcogliese purchased 2,750 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were purchased at an average cost of $23.99 per share, for a total transaction of $65,972.50. Following the completion of the transaction, the director now directly owns 42,863 shares in the company, valued at approximately $1,028,283.37. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 2,854 shares of company stock valued at $78,241 in the last 90 days. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DK shares. Wells Fargo & Company dropped their price target on shares of Delek US from $26.00 to $25.00 and set an “underweight” rating for the company in a research note on Thursday, June 6th. Scotiabank raised their target price on Delek US from $25.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Mizuho reduced their price target on Delek US from $31.00 to $27.00 and set an “underperform” rating on the stock in a research report on Thursday, June 20th. TD Cowen downgraded Delek US from a “hold” rating to a “sell” rating and lowered their price objective for the stock from $25.00 to $20.00 in a research report on Monday, June 10th. Finally, Piper Sandler reduced their target price on Delek US from $30.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Delek US has an average rating of “Hold” and a consensus target price of $27.00.

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.