The Manufacturers Life Insurance Company Buys Shares of 30,698 Delek US Holdings, Inc. $DK

The Manufacturers Life Insurance Company purchased a new stake in shares of Delek US Holdings, Inc. (NYSE:DK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 30,698 shares of the oil and gas company’s stock, valued at approximately $1,560,000. The Manufacturers Life Insurance Company owned 0.05% of Delek US as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Delek US by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 6,330,858 shares of the oil and gas company’s stock valued at $187,773,000 after purchasing an additional 38,577 shares during the period. Williamson Legacy Group LLC acquired a new stake in shares of Delek US in the fourth quarter valued at approximately $1,095,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Delek US by 1,173.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 954,900 shares of the oil and gas company’s stock valued at $28,322,000 after purchasing an additional 879,900 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in shares of Delek US by 281.5% during the first quarter. Y Intercept Hong Kong Ltd now owns 45,471 shares of the oil and gas company’s stock valued at $2,049,000 after buying an additional 33,553 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Delek US by 118.0% during the first quarter. Bank of America Corp DE now owns 846,204 shares of the oil and gas company’s stock valued at $38,138,000 after buying an additional 458,004 shares during the last quarter. Institutional investors own 97.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Zacks Research raised Delek US from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. TD Cowen lifted their target price on Delek US from $58.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. The Goldman Sachs Group boosted their price target on Delek US from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Wells Fargo & Company increased their price target on Delek US from $59.00 to $82.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Morgan Stanley raised their price target on Delek US from $41.00 to $45.00 and gave the company an “equal weight” rating in a report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.09.

Delek US Trading Up 0.7%

Delek US stock opened at $71.95 on Friday. The firm has a 50 day simple moving average of $62.97 and a 200-day simple moving average of $49.91. The company has a debt-to-equity ratio of 7.53, a current ratio of 0.76 and a quick ratio of 0.47. The stock has a market capitalization of $4.41 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.42 and a beta of 0.59. Delek US Holdings, Inc. has a 12-month low of $25.85 and a 12-month high of $77.40.

Delek US (NYSE:DK) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 EPS for the quarter, topping the consensus estimate of $2.67 by $2.81. The firm had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.44 billion. Delek US had a return on equity of 109.03% and a net margin of 1.86%.The firm’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.56) earnings per share. As a group, equities research analysts expect that Delek US Holdings, Inc. will post 11.05 EPS for the current fiscal year.

Delek US Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Avigal Soreq sold 80,000 shares of Delek US stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $66.51, for a total transaction of $5,320,800.00. Following the transaction, the chief executive officer directly owned 231,486 shares of the company’s stock, valued at $15,396,133.86. The trade was a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J. Finnerty sold 1,457 shares of Delek US stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $64.70, for a total value of $94,267.90. Following the transaction, the director directly owned 33,348 shares in the company, valued at approximately $2,157,615.60. The trade was a 4.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 153,645 shares of company stock worth $10,248,392. 3.56% of the stock is owned by corporate insiders.

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.