Victory Capital Management Inc. Grows Stock Position in Delek US Holdings, Inc. (NYSE:DK)

Victory Capital Management Inc. raised its holdings in shares of Delek US Holdings, Inc. (NYSE:DK) by 17.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,279,590 shares of the oil and gas company’s stock after acquiring an additional 480,614 shares during the quarter. Victory Capital Management Inc. owned approximately 0.05% of Delek US worth $61,492,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sei Investments Co. increased its position in Delek US by 44.1% during the 1st quarter. Sei Investments Co. now owns 176,442 shares of the oil and gas company’s stock worth $5,424,000 after purchasing an additional 53,957 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Delek US during the second quarter worth about $19,806,000. Easterly Investment Partners LLC raised its position in shares of Delek US by 26.7% in the second quarter. Easterly Investment Partners LLC now owns 457,536 shares of the oil and gas company’s stock valued at $11,329,000 after buying an additional 96,531 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Delek US by 627.2% during the first quarter. Acadian Asset Management LLC now owns 266,663 shares of the oil and gas company’s stock valued at $8,191,000 after buying an additional 229,992 shares during the period. Finally, Burney Co. purchased a new position in shares of Delek US during the second quarter valued at approximately $1,111,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Delek US from $26.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Scotiabank dropped their target price on Delek US from $25.00 to $22.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Wolfe Research assumed coverage on Delek US in a research note on Thursday, July 18th. They issued an “underperform” rating and a $19.00 price target on the stock. Mizuho raised shares of Delek US from an “underperform” rating to a “neutral” rating and dropped their price objective for the company from $28.00 to $26.00 in a research note on Monday, September 16th. Finally, Piper Sandler lowered their target price on shares of Delek US from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Six analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $21.00.

Delek US Stock Performance

NYSE:DK opened at $19.08 on Friday. The firm’s fifty day simple moving average is $18.35 and its 200 day simple moving average is $21.98. The company has a current ratio of 1.04, a quick ratio of 0.58 and a debt-to-equity ratio of 3.18. Delek US Holdings, Inc. has a twelve month low of $15.36 and a twelve month high of $33.60. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -3.90 and a beta of 1.15.

Delek US (NYSE:DK) last issued its earnings results on Wednesday, November 6th. The oil and gas company reported ($1.45) earnings per share for the quarter, topping the consensus estimate of ($1.71) by $0.26. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.23 billion. Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The company’s revenue was down 34.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.02 earnings per share. As a group, equities research analysts expect that Delek US Holdings, Inc. will post -4.4 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.255 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.35%. Delek US’s dividend payout ratio is currently -20.99%.

Delek US Company Profile

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through Refining, Logistics, and Retail segments. 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.