HITE Hedge Asset Management LLC Sells 137,064 Shares of Delek US Holdings, Inc. $DK

HITE Hedge Asset Management LLC cut its holdings in shares of Delek US Holdings, Inc. (NYSE:DK) by 47.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 151,807 shares of the oil and gas company’s stock after selling 137,064 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in Delek US were worth $4,899,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Orion Porfolio Solutions LLC boosted its holdings in shares of Delek US by 2.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 23,244 shares of the oil and gas company’s stock worth $492,000 after buying an additional 507 shares during the last quarter. Police & Firemen s Retirement System of New Jersey increased its holdings in Delek US by 5.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 13,546 shares of the oil and gas company’s stock worth $287,000 after buying an additional 686 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Delek US by 8.8% during the second quarter. CANADA LIFE ASSURANCE Co now owns 11,782 shares of the oil and gas company’s stock worth $250,000 after buying an additional 955 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Delek US by 3.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,190 shares of the oil and gas company’s stock worth $560,000 after acquiring an additional 1,102 shares during the period. Finally, Advisors Asset Management Inc. raised its position in Delek US by 0.8% in the third quarter. Advisors Asset Management Inc. now owns 151,388 shares of the oil and gas company’s stock worth $4,885,000 after acquiring an additional 1,140 shares during the period. 97.01% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Shlomo Zohar sold 5,000 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $41.47, for a total transaction of $207,350.00. Following the sale, the director directly owned 13,989 shares in the company, valued at approximately $580,123.83. The trade was a 26.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Reuven Spiegel sold 20,000 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $42.84, for a total value of $856,800.00. Following the sale, the executive vice president directly owned 48,530 shares in the company, valued at $2,079,025.20. This trade represents a 29.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 147,764 shares of company stock valued at $6,196,667. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on DK shares. Wall Street Zen raised shares of Delek US from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Delek US in a report on Wednesday, January 21st. Citigroup dropped their price objective on Delek US from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, January 26th. Mizuho increased their price objective on Delek US from $45.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Finally, UBS Group raised their target price on Delek US from $31.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 18th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Delek US presently has a consensus rating of “Hold” and a consensus target price of $39.46.

Delek US Price Performance

DK opened at $42.01 on Friday. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of -120.04, a PEG ratio of 18.45 and a beta of 0.75. The company has a quick ratio of 0.53, a current ratio of 0.82 and a debt-to-equity ratio of 5.89. The firm has a 50-day moving average price of $33.29 and a 200-day moving average price of $33.79. Delek US Holdings, Inc. has a twelve month low of $11.02 and a twelve month high of $45.74.

Delek US (NYSE:DK) last announced its quarterly earnings results on Friday, February 27th. The oil and gas company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.63. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Delek US had a negative net margin of 0.21% and a negative return on equity of 13.55%. Delek US’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.54) EPS. Equities analysts expect that Delek US Holdings, Inc. will post -5.5 EPS for the current year.

Delek US Announces Dividend

The business also recently announced 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. The ex-dividend date was Monday, March 2nd. This represents a $1.02 annualized dividend and a dividend yield of 2.4%. Delek US’s dividend payout ratio is currently -291.43%.

About Delek US

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.