Dynamic Technology Lab Private Ltd Invests $1.37 Million in Delek US Holdings Inc (DK) Stock
Dynamic Technology Lab Private Ltd bought a new position in shares of Delek US Holdings Inc (NYSE:DK) in the 3rd quarter, Holdings Channel reports. The firm bought 32,190 shares of the oil and gas company’s stock, valued at approximately $1,365,000.
Other institutional investors have also bought and sold shares of the company. FMR LLC boosted its holdings in shares of Delek US by 47.3% in the 2nd quarter. FMR LLC now owns 9,933,478 shares of the oil and gas company’s stock worth $498,363,000 after purchasing an additional 3,190,607 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Delek US by 25,488.3% in the 2nd quarter. Macquarie Group Ltd. now owns 1,330,594 shares of the oil and gas company’s stock worth $66,756,000 after purchasing an additional 1,325,394 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Delek US by 13.6% in the 2nd quarter. BlackRock Inc. now owns 5,808,118 shares of the oil and gas company’s stock worth $291,393,000 after purchasing an additional 697,134 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Delek US by 64.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,082,986 shares of the oil and gas company’s stock worth $54,334,000 after purchasing an additional 424,977 shares in the last quarter. Finally, Monarch Partners Asset Management LLC purchased a new position in shares of Delek US in the 3rd quarter worth about $16,777,000.
In other news, EVP Avigal Soreq sold 1,500 shares of the business’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $40.21, for a total value of $60,315.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company’s stock.
Delek US (NYSE:DK) last released its earnings results on Tuesday, November 6th. The oil and gas company reported $2.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.06). Delek US had a net margin of 4.40% and a return on equity of 17.94%. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.96 billion. Equities research analysts forecast that Delek US Holdings Inc will post 4.4 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 4th. Stockholders of record on Tuesday, November 20th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date was Monday, November 19th. This is a positive change from Delek US’s previous quarterly dividend of $0.25. Delek US’s payout ratio is 82.54%.
DK has been the subject of a number of research reports. ValuEngine upgraded Delek US from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Raymond James cut their price objective on Delek US from $70.00 to $60.00 and set a “strong-buy” rating for the company in a report on Monday, September 24th. Barclays cut their price objective on Delek US from $62.00 to $58.00 and set an “overweight” rating for the company in a report on Wednesday, October 3rd. Goldman Sachs Group cut Delek US from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, October 9th. Finally, Credit Suisse Group cut their price objective on Delek US from $67.00 to $59.00 and set an “outperform” rating for the company in a report on Tuesday, October 9th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $52.14.
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Delek US Company 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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