Millennium Management LLC Sells 44,349 Shares of Delek US Holdings, Inc. (NYSE:DK)

Millennium Management LLC lessened its holdings in shares of Delek US Holdings, Inc. (NYSE:DK) by 3.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,124,758 shares of the oil and gas company’s stock after selling 44,349 shares during the period. Millennium Management LLC’s holdings in Delek US were worth $27,849,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Grizzlyrock Capital LLC acquired a new stake in Delek US in the 4th quarter worth $2,405,000. Heartland Advisors Inc. bought a new position in Delek US during the first quarter valued at about $1,537,000. Rafferty Asset Management LLC raised its holdings in Delek US by 35.2% in the 4th quarter. Rafferty Asset Management LLC now owns 185,458 shares of the oil and gas company’s stock valued at $4,785,000 after acquiring an additional 48,254 shares in the last quarter. Sei Investments Co. lifted its position in shares of Delek US by 44.1% in the 1st quarter. Sei Investments Co. now owns 176,442 shares of the oil and gas company’s stock worth $5,424,000 after acquiring an additional 53,957 shares during the period. Finally, Easterly Investment Partners LLC grew its holdings in shares of Delek US by 26.7% during the 2nd quarter. Easterly Investment Partners LLC now owns 457,536 shares of the oil and gas company’s stock worth $11,329,000 after purchasing an additional 96,531 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Delek US Trading Up 9.0 %

Shares of DK opened at $20.37 on Friday. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.58 and a current ratio of 0.98. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -16.43 and a beta of 1.14. The stock has a fifty day moving average price of $20.42 and a two-hundred day moving average price of $24.69. Delek US Holdings, Inc. has a 52-week low of $18.25 and a 52-week high of $33.60.

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

Delek US Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.01%. This is a positive change from Delek US’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, August 12th. Delek US’s dividend payout ratio is presently -82.26%.

Insider Activity

In other news, CEO Avigal Soreq acquired 5,651 shares of Delek US 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 owns 188,881 shares in the company, valued at $3,856,950.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wells Fargo & Company raised their target price on Delek US from $20.00 to $21.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 3rd. Scotiabank reduced 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. TD Cowen lowered their target price on shares of Delek US from $19.00 to $18.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. StockNews.com cut shares of Delek US from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Finally, JPMorgan Chase & Co. lowered their price objective on Delek US from $26.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.09.

Delek US 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.