Delek US Holdings, Inc. (NYSE:DK) Sees Significant Drop in Short Interest

Delek US Holdings, Inc. (NYSE:DK) saw a large decrease in short interest in February. As of February 27th, there was short interest totaling 9,387,192 shares, a decrease of 13.4% from the February 12th total of 10,837,887 shares. Approximately 15.9% of the shares of the stock are sold short. Based on an average daily volume of 1,522,554 shares, the days-to-cover ratio is currently 6.2 days. Based on an average daily volume of 1,522,554 shares, the days-to-cover ratio is currently 6.2 days. Approximately 15.9% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

DK has been the topic of several analyst reports. UBS Group upped their target price on Delek US from $31.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, November 18th. Scotiabank set a $34.00 price target on shares of Delek US in a research report on Friday, January 16th. Morgan Stanley reduced their price objective on shares of Delek US from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 27th. Mizuho increased their price objective on shares of Delek US from $51.00 to $54.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Wall Street Zen upgraded shares of Delek US from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $39.69.

Delek US Stock Up 6.0%

Delek US stock traded up $2.55 during trading on Wednesday, hitting $44.89. 721,375 shares of the company were exchanged, compared to its average volume of 1,571,760. The company has a market capitalization of $2.68 billion, a P/E ratio of -128.28 and a beta of 0.75. The business’s 50 day moving average is $34.00 and its 200 day moving average is $34.21. Delek US has a 52 week low of $11.02 and a 52 week high of $45.74. The company has a current ratio of 0.82, a quick ratio of 0.53 and a debt-to-equity ratio of 5.89.

Delek US (NYSE:DK) last posted its quarterly earnings data on Friday, February 27th. The oil and gas company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.63. Delek US had a negative net margin of 0.21% and a negative return on equity of 13.55%. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the firm earned ($2.54) EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts predict that Delek US will post -5.5 earnings per share for the current year.

Delek US Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, March 2nd were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, March 2nd. Delek US’s payout ratio is presently -291.43%.

Insider Buying and Selling

In other news, EVP Denise Clark Mcwatters sold 11,988 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $41.33, for a total transaction of $495,464.04. Following the completion of the transaction, the executive vice president owned 74,196 shares of the company’s stock, valued at approximately $3,066,520.68. The trade was a 13.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Reuven Spiegel sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $42.84, for a total transaction of $856,800.00. Following the transaction, the executive vice president owned 48,530 shares of the company’s stock, valued at approximately $2,079,025.20. This represents a 29.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 159,752 shares of company stock valued at $6,692,131 in the last ninety days. Insiders own 3.56% of the company’s stock.

Institutional Trading of Delek US

A number of hedge funds have recently bought and sold shares of DK. Caitong International Asset Management Co. Ltd grew its stake in Delek US by 95.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 432 shares during the period. Brown Brothers Harriman & Co. purchased a new position in Delek US in the third quarter valued at about $27,000. EverSource Wealth Advisors LLC grew its position in shares of Delek US by 173.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 614 shares during the period. Torren Management LLC purchased a new stake in shares of Delek US during the 4th quarter worth approximately $40,000. Finally, Focus Partners Wealth bought a new stake in shares of Delek US in the 3rd quarter worth approximately $44,000. 97.01% of the stock is currently owned by institutional investors.

About Delek US

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.