Delek US Holdings, Inc. (NYSE:DK) Stake Cut by Hsbc Holdings PLC

Hsbc Holdings PLC cut its holdings in shares of Delek US Holdings, Inc. (NYSE:DK) by 24.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 73,522 shares of the oil and gas company’s stock after selling 24,423 shares during the quarter. Hsbc Holdings PLC’s holdings in Delek US were worth $1,821,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. TFO Wealth Partners LLC boosted its holdings in shares of Delek US by 627,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 6,275 shares of the oil and gas company’s stock worth $162,000 after purchasing an additional 6,274 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Delek US in the 1st quarter worth approximately $172,000. Bailard Inc. acquired a new stake in shares of Delek US during the 2nd quarter valued at $201,000. Chesapeake Capital Corp IL acquired a new stake in shares of Delek US during the 2nd quarter valued at $223,000. Finally, Capstone Investment Advisors LLC purchased a new position in shares of Delek US during the 1st quarter valued at $265,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Delek US Trading Up 0.4 %

Shares of DK stock opened at $18.98 on Friday. The business’s 50 day moving average is $20.77 and its two-hundred day moving average is $25.02. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 2.50. Delek US Holdings, Inc. has a 12 month low of $18.35 and a 12 month high of $33.60. The company has a market cap of $1.22 billion, a PE ratio of -15.31 and a beta of 1.14.

Delek US (NYSE:DK) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($1.42) by $0.50. The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.31 billion. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. The business’s quarterly revenue was down 18.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 EPS. Equities analysts predict that Delek US Holdings, Inc. will post -3.19 EPS for the current 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. The ex-dividend date was Monday, August 12th. This is a positive change from Delek US’s previous quarterly dividend of $0.20. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.37%. Delek US’s payout ratio is presently -82.26%.

Analysts Set New Price Targets

DK has been the subject of several recent research reports. Morgan Stanley cut 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. Wolfe Research started coverage on Delek US in a report on Thursday, July 18th. They set an “underperform” rating and a $19.00 price target for the company. JPMorgan Chase & Co. raised Delek US from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $23.00 to $26.00 in a research note on Tuesday, September 10th. Mizuho raised shares of Delek US from an “underperform” rating to a “neutral” rating and cut their price objective for the company from $28.00 to $26.00 in a research report on Monday, September 16th. Finally, Scotiabank decreased their target price on shares of Delek US from $27.00 to $25.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.73.

Insider Buying and Selling

In other Delek US news, CEO Avigal Soreq bought 5,651 shares of the stock in a transaction on Friday, August 9th. The shares were purchased at an average price of $20.42 per share, with a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by insiders.

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.