Freestone Grove Partners LP Makes New Investment in Delek US Holdings, Inc. $DK

Freestone Grove Partners LP acquired a new stake in Delek US Holdings, Inc. (NYSE:DK) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 253,868 shares of the oil and gas company’s stock, valued at approximately $12,899,000.

A number of other institutional investors have also recently made changes to their positions in DK. Vanguard Group Inc. grew its holdings in shares of Delek US by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company’s stock worth $187,773,000 after purchasing an additional 38,577 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Delek US during the second quarter worth about $275,233,000. Ion Asset Management Ltd. grew its stake in shares of Delek US by 1.8% in the second quarter. Ion Asset Management Ltd. now owns 3,743,890 shares of the oil and gas company’s stock worth $79,296,000 after purchasing an additional 67,490 shares during the last quarter. State Street Corp grew its stake in shares of Delek US by 3.4% in the fourth quarter. State Street Corp now owns 2,639,447 shares of the oil and gas company’s stock worth $78,286,000 after purchasing an additional 87,846 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Delek US by 24.7% in the fourth quarter. Morgan Stanley now owns 2,033,037 shares of the oil and gas company’s stock worth $60,300,000 after purchasing an additional 403,059 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

DK has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on Delek US from $73.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Weiss Ratings upgraded Delek US from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted their target price on Delek US from $57.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Zacks Research upgraded Delek US from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. Finally, Mizuho raised their price target on Delek US from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $53.15.

Insider Activity

In related news, Director Gary M. Jr. Sullivan sold 27,688 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $69.01, for a total transaction of $1,910,748.88. Following the transaction, the director owned 32,004 shares in the company, valued at $2,208,596.04. This represents a 46.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Wayne Hobbs sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $64.59, for a total transaction of $1,291,800.00. Following the completion of the sale, the executive vice president owned 104,326 shares in the company, valued at $6,738,416.34. This represents a 16.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 151,077 shares of company stock valued at $9,929,931 over the last three months. Corporate insiders own 3.56% of the company’s stock.

Delek US Trading Down 0.6%

Delek US stock opened at $70.43 on Friday. The company has a debt-to-equity ratio of 7.53, a current ratio of 0.76 and a quick ratio of 0.47. Delek US Holdings, Inc. has a one year low of $25.85 and a one year high of $72.00. The stock has a market capitalization of $4.31 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 1.54 and a beta of 0.57. The business’s fifty day moving average is $60.10 and its 200 day moving average is $48.55.

Delek US (NYSE:DK) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $2.81. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.44 billion. Delek US had a return on equity of 109.03% and a net margin of 1.86%.Delek US’s revenue was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.56) EPS. On average, sell-side analysts predict that Delek US Holdings, Inc. will post 10.1 EPS for the current year.

Delek US Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, August 3rd. Delek US’s payout ratio is presently 28.65%.

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.