Range Financial Group LLC Takes $1.02 Million Position in Delek US Holdings, Inc. $DK

Range Financial Group LLC bought a new position in Delek US Holdings, Inc. (NYSE:DK) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 34,259 shares of the oil and gas company’s stock, valued at approximately $1,016,000. Range Financial Group LLC owned about 0.06% of Delek US at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Ion Asset Management Ltd. boosted its stake in Delek US by 1.8% during the second quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company’s stock valued at $79,296,000 after buying an additional 67,490 shares during the last quarter. Barclays PLC raised its holdings in shares of Delek US by 29.4% during the 3rd quarter. Barclays PLC now owns 1,873,578 shares of the oil and gas company’s stock worth $60,460,000 after acquiring an additional 425,896 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Delek US by 40.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,474,083 shares of the oil and gas company’s stock worth $47,569,000 after acquiring an additional 423,017 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Delek US by 6,300.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,306,269 shares of the oil and gas company’s stock valued at $42,153,000 after acquiring an additional 1,285,861 shares during the last quarter. Finally, Systematic Financial Management LP boosted its position in shares of Delek US by 0.3% during the 2nd quarter. Systematic Financial Management LP now owns 914,458 shares of the oil and gas company’s stock valued at $19,368,000 after acquiring an additional 3,026 shares during the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Delek US Stock Performance

NYSE:DK opened at $45.64 on Tuesday. The stock’s fifty day moving average is $36.85 and its 200 day moving average is $35.14. Delek US Holdings, Inc. has a fifty-two week low of $11.02 and a fifty-two week high of $48.32. The firm has a market capitalization of $2.73 billion, a PE ratio of -130.40, a PEG ratio of 1.47 and a beta of 0.75. The company has a debt-to-equity ratio of 5.89, a quick ratio of 0.53 and a current ratio of 0.82.

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

Delek US Dividend Announcement

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

Insider Activity at Delek US

In other news, CEO Avigal Soreq sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $41.08, for a total transaction of $2,054,000.00. Following the transaction, the chief executive officer owned 251,678 shares of the company’s stock, valued at approximately $10,338,932.24. This represents a 16.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Denise Clark Mcwatters sold 11,988 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $41.33, for a total value of $495,464.04. Following the completion of the sale, the executive vice president owned 74,196 shares in the company, valued at approximately $3,066,520.68. The trade was a 13.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 172,095 shares of company stock worth $7,257,409 in the last three months. 3.56% of the stock is owned by insiders.

Wall Street Analyst Weigh In

DK has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Delek US from $42.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, January 15th. Raymond James Financial increased their price objective 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. Mizuho lifted their price objective on shares of Delek US from $51.00 to $54.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Morgan Stanley reduced their target price on shares of Delek US from $40.00 to $38.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 27th. Finally, Scotiabank upgraded shares of Delek US to a “hold” rating in a research report on Friday. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $41.00.

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.