Victory Capital Management Inc. decreased its stake in shares of Delek US Holdings, Inc. (NYSE:DK – Get Rating) by 20.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,979,691 shares of the oil and gas company’s stock after selling 512,924 shares during the period. Victory Capital Management Inc. owned approximately 2.96% of Delek US worth $53,452,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Citigroup Inc. lifted its position in Delek US by 24.4% during the 4th quarter. Citigroup Inc. now owns 242,737 shares of the oil and gas company’s stock valued at $6,554,000 after acquiring an additional 47,644 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Delek US by 28.4% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 14,786 shares of the oil and gas company’s stock worth $401,000 after buying an additional 3,266 shares during the last quarter. Two Sigma Advisers LP raised its holdings in Delek US by 26.8% in the third quarter. Two Sigma Advisers LP now owns 726,185 shares of the oil and gas company’s stock worth $19,709,000 after buying an additional 153,300 shares during the last quarter. New York State Teachers Retirement System purchased a new position in Delek US in the fourth quarter worth about $162,000. Finally, New York Life Investment Management LLC raised its holdings in shares of Delek US by 12.0% during the fourth quarter. New York Life Investment Management LLC now owns 26,961 shares of the oil and gas company’s stock valued at $728,000 after purchasing an additional 2,893 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently weighed in on DK. Mizuho boosted their price objective on shares of Delek US from $25.00 to $26.00 in a report on Friday, May 19th. Raymond James decreased their price objective on shares of Delek US from $35.00 to $32.00 and set an “outperform” rating for the company in a report on Tuesday, March 14th. TheStreet raised shares of Delek US from a “c” rating to a “b” rating in a report on Monday, May 8th. Wells Fargo & Company cut their target price on shares of Delek US from $24.00 to $22.00 and set an “underweight” rating for the company in a research report on Thursday, April 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of Delek US from $27.00 to $26.00 and set an “underweight” rating for the company in a research report on Tuesday, March 28th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $29.91.
Delek US Stock Performance
Delek US (NYSE:DK – Get Rating) last posted its quarterly earnings results on Monday, May 8th. The oil and gas company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.31. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $2.83 billion. Delek US had a net margin of 1.60% and a return on equity of 38.98%. The company’s revenue was down 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. Equities analysts forecast that Delek US Holdings, Inc. will post 3.7 earnings per share for the current fiscal year.
Delek US Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Shareholders of record on Monday, May 15th were given a $0.23 dividend. This is a positive change from Delek US’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date was Friday, May 12th. Delek US’s dividend payout ratio is presently 21.05%.
About Delek US
Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through three segments: Refining, Logistics, and Retail. The Refining segment processes crude oil and other feedstock 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 terminal.
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