Delek US Holdings, Inc. (NYSE:DK) Sees Significant Increase in Short Interest

Delek US Holdings, Inc. (NYSE:DK) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 9,070,000 shares, an increase of 6.6% from the October 31st total of 8,510,000 shares. Currently, 14.7% of the company’s stock are short sold. Based on an average daily volume of 1,210,000 shares, the days-to-cover ratio is presently 7.5 days.

Institutional Trading of Delek US

Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in Delek US by 4.5% during the third quarter. Geode Capital Management LLC now owns 1,459,301 shares of the oil and gas company’s stock valued at $27,368,000 after purchasing an additional 63,502 shares during the period. Barclays PLC grew its holdings in Delek US by 51.5% during the third quarter. Barclays PLC now owns 1,496,825 shares of the oil and gas company’s stock valued at $28,065,000 after purchasing an additional 508,719 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in Delek US by 123.7% during the third quarter. Y Intercept Hong Kong Ltd now owns 42,125 shares of the oil and gas company’s stock valued at $790,000 after purchasing an additional 23,298 shares during the period. Orion Portfolio Solutions LLC boosted its stake in shares of Delek US by 7.6% in the third quarter. Orion Portfolio Solutions LLC now owns 18,254 shares of the oil and gas company’s stock worth $342,000 after acquiring an additional 1,292 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Delek US in the third quarter worth about $238,000. Institutional investors own 97.01% of the company’s stock.

Delek US Stock Performance

Shares of DK opened at $19.09 on Wednesday. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.04 and a quick ratio of 0.67. Delek US has a one year low of $15.36 and a one year high of $33.60. The firm has a market capitalization of $1.21 billion, a P/E ratio of -3.93 and a beta of 1.22. The business has a fifty day moving average of $18.17 and a 200 day moving average of $21.08.

Delek US (NYSE:DK) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($1.45) EPS for the quarter, topping the consensus estimate of ($1.71) by $0.26. Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the previous year, the company posted $2.02 earnings per share. Delek US’s revenue was down 34.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Delek US will post -4.4 EPS for the current year.

Delek US Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 5.34%. The ex-dividend date was Tuesday, November 12th. Delek US’s dividend payout ratio is presently -20.99%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DK shares. Wells Fargo & Company lowered their price objective on Delek US from $21.00 to $18.00 and set an “underweight” rating for the company in a research note on Wednesday, October 9th. TD Cowen lowered their price objective on Delek US from $19.00 to $18.00 and set a “sell” rating for the company in a research note on Thursday, August 8th. Scotiabank lowered their price objective 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. Mizuho upgraded Delek US from an “underperform” rating to a “neutral” rating and lowered 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 price objective on Delek US from $25.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Six research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.00.

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.