Rangeley Capital LLC Invests $6.18 Million in Delek US Holdings, Inc. (NYSE:DK)

Rangeley Capital LLC bought a new stake in Delek US Holdings, Inc. (NYSE:DK) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 334,000 shares of the oil and gas company’s stock, valued at approximately $6,179,000. Delek US comprises 5.6% of Rangeley Capital LLC’s portfolio, making the stock its 3rd largest position. Rangeley Capital LLC owned 0.53% of Delek US at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DK. State Street Corp lifted its stake in shares of Delek US by 8.0% in the 3rd quarter. State Street Corp now owns 3,019,307 shares of the oil and gas company’s stock valued at $56,612,000 after purchasing an additional 223,110 shares during the period. FMR LLC lifted its stake in Delek US by 47.3% in the third quarter. FMR LLC now owns 1,707,773 shares of the oil and gas company’s stock valued at $32,021,000 after buying an additional 548,777 shares during the period. Barclays PLC lifted its stake in Delek US by 51.5% in 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 buying an additional 508,719 shares during the period. Geode Capital Management LLC grew its position in shares of Delek US by 4.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,459,301 shares of the oil and gas company’s stock worth $27,368,000 after buying an additional 63,502 shares during the period. Finally, Philosophy Capital Management LLC bought a new stake in shares of Delek US in the 3rd quarter valued at $21,471,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Delek US Stock Performance

NYSE DK opened at $15.53 on Thursday. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.04 and a quick ratio of 0.67. The company has a fifty day moving average price of $16.81 and a 200-day moving average price of $17.77. Delek US Holdings, Inc. has a 1 year low of $13.40 and a 1 year high of $33.60. The firm has a market cap of $970.83 million, a price-to-earnings ratio of -3.20 and a beta of 1.14.

Delek US (NYSE:DK) last posted its quarterly earnings data on Tuesday, February 25th. The oil and gas company reported ($2.54) EPS for the quarter, missing the consensus estimate of ($1.53) by ($1.01). The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The company’s quarterly revenue was down 39.8% on a year-over-year basis. During the same quarter last year, the business posted ($1.46) EPS. As a group, equities research analysts predict that Delek US Holdings, Inc. will post -5.5 EPS for the current fiscal year.

Delek US Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, March 3rd were paid a $0.255 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.02 dividend on an annualized basis and a yield of 6.57%. Delek US’s dividend payout ratio (DPR) is presently -11.54%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on DK shares. Morgan Stanley cut their target price on shares of Delek US from $19.00 to $18.00 and set an “underweight” rating on the stock in a research note on Friday, March 14th. Mizuho reduced their target price on Delek US from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Wells Fargo & Company upped their price target on Delek US from $15.00 to $16.00 and gave the stock an “underweight” rating in a research note on Friday, March 21st. Piper Sandler reduced their price objective on Delek US from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. upped their target price on Delek US from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Five analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.40.

Insider Activity

In related news, CFO Mark Wayne Hobbs purchased 2,800 shares of Delek US stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average price of $13.70 per share, for a total transaction of $38,360.00. Following the completion of the transaction, the chief financial officer now owns 49,138 shares in the company, valued at $673,190.60. This represents a 6.04 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 5,055 shares of company stock valued at $70,787 in the last ninety days. 1.80% of the stock is currently owned by insiders.

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.