JPMorgan Chase & Co. Purchases 121,910 Shares of Delek US Holdings, Inc. $DK

JPMorgan Chase & Co. increased its position in Delek US Holdings, Inc. (NYSE:DK) by 102.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 241,391 shares of the oil and gas company’s stock after buying an additional 121,910 shares during the period. JPMorgan Chase & Co.’s holdings in Delek US were worth $7,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Allianz Asset Management GmbH increased its stake in shares of Delek US by 40.2% in the third quarter. Allianz Asset Management GmbH now owns 1,474,083 shares of the oil and gas company’s stock worth $47,569,000 after purchasing an additional 423,017 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Delek US during the 3rd quarter valued at approximately $1,338,000. Federated Hermes Inc. acquired a new stake in Delek US in the 3rd quarter valued at approximately $5,416,000. Quantbot Technologies LP acquired a new stake in Delek US in the 2nd quarter valued at approximately $1,089,000. Finally, Mercuria Capital Strategies LLC bought a new position in Delek US in the 3rd quarter worth approximately $8,755,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on Delek US from $42.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, January 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Delek US in a research note on Wednesday, January 21st. Scotiabank set a $34.00 target price on shares of Delek US in a research report on Friday, January 16th. Morgan Stanley cut their target price 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. Finally, TD Cowen increased their price target on shares of Delek US from $28.00 to $44.00 and gave the company a “hold” rating in a report on Thursday, March 5th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Delek US currently has an average rating of “Hold” and an average target price of $41.00.

Delek US Trading Down 3.8%

Delek US stock opened at $45.64 on Tuesday. The business has a 50 day moving average price of $36.85 and a two-hundred day moving average price of $35.14. The company has a quick ratio of 0.53, a current ratio of 0.82 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 stock has a market cap of $2.73 billion, a price-to-earnings ratio of -130.40, a price-to-earnings-growth ratio of 1.47 and a beta of 0.75.

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

Delek US Dividend Announcement

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

Insider Activity

In other Delek US news, EVP Reuven Spiegel sold 20,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $42.84, for a total value of $856,800.00. Following the sale, the executive vice president owned 48,530 shares of the company’s stock, valued at $2,079,025.20. The trade was a 29.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Shlomo Zohar sold 7,343 shares of the stock in a transaction 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 transaction, the director owned 6,646 shares of the company’s stock, valued at approximately $305,716. This represents a 52.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 172,095 shares of company stock valued at $7,257,409. 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.