Converium Capital Inc. Invests $9.86 Million in Delek US Holdings, Inc. $DK

Converium Capital Inc. purchased a new position in Delek US Holdings, Inc. (NYSE:DK) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 218,658 shares of the oil and gas company’s stock, valued at approximately $9,855,000. Delek US makes up about 6.4% of Converium Capital Inc.’s investment portfolio, making the stock its 7th largest holding. Converium Capital Inc. owned 0.36% of Delek US at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Delek US by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company’s stock valued at $187,773,000 after buying an additional 38,577 shares in the last quarter. Ion Asset Management Ltd. grew its position in shares of Delek US by 1.8% in the 2nd quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company’s stock worth $79,296,000 after acquiring an additional 67,490 shares in the last quarter. State Street Corp increased its holdings in shares of Delek US by 3.4% in the 4th quarter. State Street Corp now owns 2,639,447 shares of the oil and gas company’s stock valued at $78,286,000 after acquiring an additional 87,846 shares during the last quarter. Morgan Stanley increased its holdings in shares of Delek US by 24.7% in the 4th quarter. Morgan Stanley now owns 2,033,037 shares of the oil and gas company’s stock valued at $60,300,000 after acquiring an additional 403,059 shares during the last quarter. Finally, ION Fund Management Ltd acquired a new stake in shares of Delek US during the 4th quarter valued at approximately $52,427,000. 97.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DK shares. TD Cowen raised their price objective on Delek US from $58.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Weiss Ratings lowered shares of Delek US from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Morgan Stanley increased their target price on shares of Delek US from $41.00 to $45.00 and gave the stock an “equal weight” rating in a report on Friday, June 12th. JPMorgan Chase & Co. raised their price target on shares of Delek US from $57.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Finally, Citigroup lifted their price target on shares of Delek US from $33.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Delek US currently has an average rating of “Hold” and a consensus price target of $51.92.

Delek US Trading Up 0.0%

NYSE:DK opened at $67.71 on Friday. Delek US Holdings, Inc. has a 12-month low of $19.81 and a 12-month high of $68.93. The firm has a market capitalization of $4.15 billion, a P/E ratio of -74.41, a P/E/G ratio of 1.78 and a beta of 0.58. The company has a debt-to-equity ratio of 10.51, a current ratio of 0.76 and a quick ratio of 0.49. The business has a 50 day simple moving average of $52.43 and a 200 day simple moving average of $43.61.

Delek US (NYSE:DK) last issued its quarterly earnings data 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. Delek US had a positive return on equity of 22.90% and a negative net margin of 0.48%.The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the prior year, the business earned ($2.32) EPS. The firm’s revenue was up .4% on a year-over-year basis. Equities research analysts predict that Delek US Holdings, Inc. will post 8.32 EPS for the current year.

Delek US Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 3rd will be issued a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.02 annualized dividend and a dividend yield of 1.5%. Delek US’s payout ratio is -112.09%.

Insider Buying and Selling at Delek US

In other Delek US news, EVP Reuven Spiegel sold 10,000 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $44.36, for a total transaction of $443,600.00. Following the completion of the transaction, the executive vice president directly owned 48,372 shares of the company’s stock, valued at $2,145,781.92. The trade was a 17.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J. Finnerty sold 5,000 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $51.50, for a total transaction of $257,500.00. Following the transaction, the director directly owned 34,805 shares of the company’s stock, valued at $1,792,457.50. The trade was a 12.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 39,270 shares of company stock valued at $1,828,718. Corporate 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.