Converium Capital Inc. Buys New Stake in Delek US Holdings, Inc. $DK

Converium Capital Inc. purchased a new position in shares of Delek US Holdings, Inc. (NYSE:DK) in the first quarter, Holdings Channel reports. The fund purchased 218,658 shares of the oil and gas company’s stock, valued at approximately $9,855,000. Delek US comprises 6.4% of Converium Capital Inc.’s holdings, making the stock its 7th largest holding.

A number of other large investors also recently modified their holdings of the business. ION Fund Management Ltd bought a new stake in shares of Delek US during the fourth quarter valued at about $52,427,000. Norges Bank acquired a new position in Delek US during the 4th quarter valued at about $48,374,000. Arrowstreet Capital Limited Partnership raised its position in shares of Delek US by 6,300.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,306,269 shares of the oil and gas company’s stock worth $42,153,000 after buying an additional 1,285,861 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Delek US by 1,516.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 996,059 shares of the oil and gas company’s stock worth $29,544,000 after buying an additional 934,448 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Delek US by 1,173.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 954,900 shares of the oil and gas company’s stock worth $28,322,000 after buying an additional 879,900 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Delek US Price Performance

Shares of NYSE DK opened at $67.71 on Friday. Delek US Holdings, Inc. has a twelve month low of $19.81 and a twelve month high of $68.93. The company has a current ratio of 0.76, a quick ratio of 0.49 and a debt-to-equity ratio of 10.51. The firm has a 50-day moving average of $52.43 and a two-hundred day moving average of $43.61. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of -74.41, a PEG ratio of 1.78 and a beta of 0.58.

Delek US (NYSE:DK) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $1.50. Delek US had a negative net margin of 0.48% and a positive return on equity of 22.90%. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the previous year, the company posted ($2.32) EPS. The business’s revenue was up .4% compared to the same quarter last year. As a group, analysts expect that Delek US Holdings, Inc. will post 8.32 earnings per share for the current fiscal year.

Delek US Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be paid a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.02 annualized dividend and a yield of 1.5%. Delek US’s dividend payout ratio is currently -112.09%.

Analyst Ratings Changes

Several research firms have recently issued reports on DK. TD Cowen increased their price objective on shares of Delek US from $58.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. boosted their target price on Delek US from $57.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. UBS Group boosted their target price on Delek US from $42.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. The Goldman Sachs Group upped their target price on Delek US from $58.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Finally, Mizuho increased their price target on Delek US from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Delek US has an average rating of “Hold” and an average target price of $51.92.

Insider Activity

In other Delek US news, Director William J. Finnerty sold 5,000 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $51.50, for a total value of $257,500.00. Following the transaction, the director owned 34,805 shares of the company’s stock, valued at approximately $1,792,457.50. This represents a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Robert G. Wright sold 10,720 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $47.07, for a total value of $504,590.40. Following the sale, the executive vice president owned 48,148 shares of the company’s stock, valued at $2,266,326.36. This trade represents a 18.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 39,270 shares of company stock valued at $1,828,718 in the last ninety days. 3.56% of the stock is owned by company insiders.

Delek US Profile

Delek US Holdings, Inc (NYSE: DK) is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.