Norges Bank Buys New Position in Delek US Holdings, Inc. $DK

Norges Bank bought a new stake in Delek US Holdings, Inc. (NYSE:DK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,630,950 shares of the oil and gas company’s stock, valued at approximately $48,374,000. Norges Bank owned approximately 2.72% of Delek US as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Delek US by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company’s stock worth $187,773,000 after purchasing an additional 38,577 shares in the last quarter. Ion Asset Management Ltd. boosted its holdings in Delek US by 1.8% during the second quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company’s stock worth $79,296,000 after purchasing an additional 67,490 shares during the last quarter. Barclays PLC grew its position in Delek US by 29.4% in the third quarter. Barclays PLC now owns 1,873,578 shares of the oil and gas company’s stock valued at $60,460,000 after purchasing an additional 425,896 shares in the last quarter. Geode Capital Management LLC increased its stake in Delek US by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 1,436,776 shares of the oil and gas company’s stock valued at $42,624,000 after buying an additional 40,038 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Delek US by 6,300.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,306,269 shares of the oil and gas company’s stock valued at $42,153,000 after buying an additional 1,285,861 shares during the last quarter. 97.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Mizuho increased their price objective on shares of Delek US from $54.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 27th. Wells Fargo & Company upped their target price on Delek US from $54.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. The Goldman Sachs Group raised Delek US from a “neutral” rating to a “buy” rating and increased their price target for the company from $43.00 to $55.00 in a research report on Friday, April 10th. Scotiabank raised Delek US to a “hold” rating in a research report on Friday, March 27th. Finally, Wall Street Zen upgraded Delek US from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Delek US has a consensus rating of “Hold” and a consensus price target of $44.69.

Delek US Stock Up 0.2%

Shares of DK stock opened at $48.36 on Monday. Delek US Holdings, Inc. has a 52-week low of $18.94 and a 52-week high of $49.50. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -53.14, a PEG ratio of 0.33 and a beta of 0.60. The firm’s 50-day moving average is $43.85 and its 200-day moving average is $37.97. The company has a debt-to-equity ratio of 10.51, a quick ratio of 0.49 and a current ratio of 0.76.

Delek US (NYSE:DK) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($1.42) by $1.50. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Delek US had a positive return on equity of 22.90% and a negative net margin of 0.48%.Delek US’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the company posted ($2.32) earnings per share. Sell-side analysts predict that Delek US Holdings, Inc. will post 4.96 EPS for the current year.

Delek US Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, May 1st were paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, May 1st. Delek US’s payout ratio is currently -112.09%.

Insider Buying and Selling at Delek US

In related news, Director Shlomo Zohar sold 7,343 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $46.00, for a total value of $337,778.00. Following the sale, the director owned 6,646 shares in the company, valued at approximately $305,716. This represents a 52.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert G. Wright sold 10,720 shares of the firm’s 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 directly owned 48,148 shares of the company’s stock, valued at $2,266,326.36. This represents a 18.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 58,601 shares of company stock worth $2,631,960 in the last three months. 3.56% of the stock is owned by 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.