SummerHaven Investment Management LLC Buys 33,675 Shares of Delek US Holdings, Inc. $DK

SummerHaven Investment Management LLC bought a new position in Delek US Holdings, Inc. (NYSE:DK) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 33,675 shares of the oil and gas company’s stock, valued at approximately $2,403,000. Delek US comprises about 1.7% of SummerHaven Investment Management LLC’s portfolio, making the stock its 9th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Delek US in the 2nd quarter worth about $275,233,000. Arrowstreet Capital Limited Partnership boosted its stake in Delek US by 26.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,596,093 shares of the oil and gas company’s stock worth $71,936,000 after purchasing an additional 335,892 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Delek US by 19.0% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,136,720 shares of the oil and gas company’s stock valued at $51,232,000 after purchasing an additional 181,820 shares during the last quarter. Bank of America Corp DE grew its position in Delek US by 118.0% during the 1st 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 purchasing an additional 458,004 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Delek US during the 2nd quarter valued at about $22,987,000. 97.01% of the stock is currently owned by institutional investors.

Delek US Stock Down 0.2%

Delek US stock opened at $76.75 on Friday. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 0.38 and a beta of 0.62. The stock has a fifty day simple moving average of $72.37 and a two-hundred day simple moving average of $57.30. Delek US Holdings, Inc. has a 12 month low of $25.85 and a 12 month high of $82.27. The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53.

Delek US (NYSE:DK) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $2.81. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $3.44 billion. Delek US had a return on equity of 109.03% and a net margin of 1.86%. The company’s quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.56) earnings per share. Equities analysts predict that Delek US Holdings, Inc. will post 15.95 EPS for the current fiscal year.

Delek US Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued a $0.2550 dividend. This represents a $1.02 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, August 3rd. Delek US’s dividend payout ratio (DPR) is presently 28.65%.

Insider Buying and Selling

In other Delek US news, Director Gary M. Jr. Sullivan sold 27,688 shares of the company’s stock in a transaction dated 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 approximately $2,208,596.04. This represents a 46.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William J. Finnerty sold 2,943 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $77.17, for a total transaction of $227,111.31. Following the sale, the director directly owned 30,405 shares in the company, valued at approximately $2,346,353.85. The trade was a 8.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 163,377 shares of company stock worth $11,082,485 in the last three months. 3.56% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Delek US from $57.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Citigroup reaffirmed a “neutral” rating on shares of Delek US in a report on Thursday, August 6th. TD Cowen upped their target price on shares of Delek US from $76.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 14th. Freedom Broker assumed coverage on shares of Delek US in a report on Wednesday, October 7th. They set a “hold” rating and a $86.00 price target on the stock. Finally, Morgan Stanley increased their price target on shares of Delek US from $45.00 to $81.00 and gave the company an “equal weight” rating in a report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.83.

Delek US Profile

Delek US Holdings, Inc is an independent downstream energy company headquartered in Brentwood, Tennessee. The company operates petroleum refineries and related logistics assets, producing transportation fuels and other refined petroleum products for commercial and wholesale customers.

Delek’s refining operations have included facilities in the U.S. Gulf Coast and Mid-Continent regions, with assets in Texas, Arkansas and Louisiana. Its products may include gasoline, diesel, jet fuel, asphalt and other refined products.