Franklin Resources Inc. Reduces Stock Position in Delek US Holdings, Inc. (NYSE:DK)

Franklin Resources Inc. cut its stake in shares of Delek US Holdings, Inc. (NYSE:DK) by 17.2% during the third quarter, HoldingsChannel.com reports. The fund owned 24,635 shares of the oil and gas company’s stock after selling 5,105 shares during the quarter. Franklin Resources Inc.’s holdings in Delek US were worth $458,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Clifford Capital Partners LLC purchased a new position in shares of Delek US in the third quarter worth $7,504,000. Point72 Asset Management L.P. acquired a new position in shares of Delek US in the 2nd quarter valued at $19,806,000. International Assets Investment Management LLC raised its stake in Delek US by 1,753.2% in the 3rd quarter. International Assets Investment Management LLC now owns 648,507 shares of the oil and gas company’s stock worth $12,160,000 after acquiring an additional 613,514 shares during the last quarter. Geode Capital Management LLC lifted its position in Delek US by 4.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,459,301 shares of the oil and gas company’s stock worth $27,368,000 after acquiring an additional 63,502 shares during the period. Finally, DRW Securities LLC acquired a new stake in Delek US during the 3rd quarter worth about $1,782,000. 97.01% of the stock is owned by institutional investors.

Delek US Stock Up 4.3 %

DK stock opened at $18.50 on Wednesday. The firm’s fifty day moving average is $17.69 and its 200 day moving average is $19.89. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.67 and a current ratio of 1.04. Delek US Holdings, Inc. has a one year low of $15.36 and a one year high of $33.60. The firm has a market cap of $1.17 billion, a PE ratio of -3.81 and a beta of 1.22.

Delek US (NYSE:DK) last announced its earnings results on Wednesday, November 6th. The oil and gas company reported ($1.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.26. Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter last year, the firm posted $2.02 EPS. The business’s revenue was down 34.3% on a year-over-year basis. On average, research analysts forecast that Delek US Holdings, Inc. will post -4.4 EPS for the current year.

Delek US Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.255 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.51%. Delek US’s dividend payout ratio is currently -20.99%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on DK shares. StockNews.com cut Delek US from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Scotiabank reduced their price target on shares of Delek US from $25.00 to $22.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company dropped their price objective on shares of Delek US from $18.00 to $16.00 and set an “underweight” rating on the stock in a report on Monday, December 9th. Bank of America started coverage on shares of Delek US in a research note on Thursday, October 17th. They issued an “underperform” rating and a $15.00 price objective on the stock. Finally, Mizuho decreased their target price on shares of Delek US from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Six equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, Delek US currently has a consensus rating of “Hold” and a consensus price target of $21.00.

Delek US Company Profile

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.