Range Financial Group LLC Takes Position in Delek US Holdings, Inc. $DK

Range Financial Group LLC purchased a new position in Delek US Holdings, Inc. (NYSE:DK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,259 shares of the oil and gas company’s stock, valued at approximately $1,016,000.

Other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in Delek US by 18.4% in the 1st quarter. Royal Bank of Canada now owns 278,774 shares of the oil and gas company’s stock valued at $4,201,000 after buying an additional 43,379 shares during the period. AQR Capital Management LLC purchased a new position in shares of Delek US during the first quarter worth approximately $390,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Delek US by 3.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,190 shares of the oil and gas company’s stock valued at $560,000 after acquiring an additional 1,102 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Delek US by 3,979.8% during the first quarter. Jones Financial Companies Lllp now owns 20,399 shares of the oil and gas company’s stock valued at $307,000 after acquiring an additional 19,899 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Delek US by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,871 shares of the oil and gas company’s stock valued at $2,213,000 after purchasing an additional 9,827 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Delek US Trading Down 3.8%

Shares of NYSE:DK opened at $45.64 on Tuesday. The company has a market capitalization of $2.73 billion, a PE ratio of -130.40, a P/E/G ratio of 1.47 and a beta of 0.75. 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 Holdings, Inc. has a 12-month low of $11.02 and a 12-month high of $48.32. The business’s fifty day simple moving average is $36.85 and its 200-day simple moving average is $35.14.

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

Delek US Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, March 2nd. Delek US’s dividend payout ratio is presently -291.43%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Piper Sandler dropped their price objective on Delek US from $47.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Citigroup decreased their price objective on Delek US from $37.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, January 26th. Morgan Stanley lowered their price objective on shares of Delek US from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 27th. Scotiabank upgraded shares of Delek US to a “hold” rating in a report on Friday. Finally, Raymond James Financial raised their target price on shares of Delek US from $47.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $41.00.

Insiders Place Their Bets

In related news, EVP Reuven Spiegel sold 20,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $42.84, for a total transaction of $856,800.00. Following the completion of the sale, the executive vice president owned 48,530 shares of the company’s stock, valued at $2,079,025.20. This represents a 29.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Shlomo Zohar sold 7,343 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $46.00, for a total transaction of $337,778.00. Following the completion of the sale, the director owned 6,646 shares of the company’s stock, valued at approximately $305,716. This trade represents a 52.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 172,095 shares of company stock worth $7,257,409. Insiders own 3.56% of the company’s stock.

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.