Cambiar Investors LLC Purchases Shares of 87,380 Delek US Holdings Inc (DK)
Cambiar Investors LLC purchased a new position in shares of Delek US Holdings Inc (NYSE:DK) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 87,380 shares of the oil and gas company’s stock, valued at approximately $3,182,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Menora Mivtachim Holdings LTD. purchased a new stake in Delek US during the 4th quarter worth about $120,179,000. Principal Financial Group Inc. increased its holdings in shares of Delek US by 201.5% in the 4th quarter. Principal Financial Group Inc. now owns 1,620,258 shares of the oil and gas company’s stock valued at $52,674,000 after acquiring an additional 1,082,837 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of Delek US by 0.8% in the 4th quarter. Macquarie Group Ltd. now owns 1,450,536 shares of the oil and gas company’s stock valued at $47,157,000 after acquiring an additional 11,718 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Delek US by 1,092.2% in the 4th quarter. Millennium Management LLC now owns 1,429,865 shares of the oil and gas company’s stock valued at $46,485,000 after acquiring an additional 1,309,931 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Delek US in the 4th quarter valued at about $42,863,000.
A number of research analysts have recently commented on the company. ValuEngine upgraded Delek US from a “strong sell” rating to a “sell” rating in a report on Wednesday. Goldman Sachs Group downgraded Delek US from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $44.00 to $42.00 in a report on Tuesday, April 16th. Mizuho reiterated a “buy” rating and issued a $60.00 price objective on shares of Delek US in a report on Thursday, February 21st. Barclays reiterated a “buy” rating and issued a $51.00 price objective on shares of Delek US in a report on Thursday, February 21st. Finally, Raymond James dropped their price objective on Delek US from $46.00 to $45.00 and set a “strong-buy” rating on the stock in a report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Delek US currently has an average rating of “Hold” and an average price target of $49.32.
Delek US (NYSE:DK) last announced its earnings results on Monday, May 6th. The oil and gas company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $1.06. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Delek US had a return on equity of 27.94% and a net margin of 5.48%. The business’s revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. As a group, research analysts forecast that Delek US Holdings Inc will post 4.17 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, June 3rd will be given a $0.28 dividend. The ex-dividend date is Friday, May 31st. This is a boost from Delek US’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.10%. Delek US’s dividend payout ratio is 23.33%.
In related news, CFO Assi Ginzburg sold 10,478 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $38.95, for a total value of $408,118.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.
Delek US Profile
Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company's Refining segment processes crude oil and other purchased feedstocks 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 terminals.
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