Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 452,406 Delek US Holdings, Inc. $DK

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Delek US Holdings, Inc. (NYSE:DK) in the second quarter, Holdings Channel.com reports. The firm acquired 452,406 shares of the oil and gas company’s stock, valued at approximately $22,987,000.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in Delek US by 0.6% in 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 acquiring an additional 38,577 shares during the period. BlackRock Inc. acquired a new position in Delek US during the second quarter worth $275,233,000. Ion Asset Management Ltd. raised its position in Delek US by 1.8% during 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 acquiring an additional 67,490 shares during the period. State Street Corp lifted its holdings in Delek US by 3.4% during the fourth quarter. State Street Corp now owns 2,639,447 shares of the oil and gas company’s stock valued at $78,286,000 after purchasing an additional 87,846 shares in the last quarter. Finally, Morgan Stanley grew its position 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 valued at $60,300,000 after purchasing an additional 403,059 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Avigal Soreq sold 80,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $66.51, for a total value of $5,320,800.00. Following the completion of the sale, the chief executive officer directly owned 231,486 shares in the company, valued at $15,396,133.86. This represents a 25.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Wayne Hobbs sold 20,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $64.59, for a total value of $1,291,800.00. Following the completion of the sale, the executive vice president directly owned 104,326 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders sold 123,629 shares of company stock valued at $7,947,385. Insiders own 3.56% of the company’s stock.

Delek US Stock Performance

NYSE:DK opened at $67.98 on Tuesday. The company’s 50-day moving average price is $58.48 and its 200-day moving average price is $47.80. The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53. The company has a market cap of $4.16 billion, a P/E ratio of 19.10, a P/E/G ratio of 1.55 and a beta of 0.57. Delek US Holdings, Inc. has a twelve month low of $24.69 and a twelve month high of $72.00.

Delek US (NYSE:DK) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $2.81. Delek US had a net margin of 1.86% and a return on equity of 109.03%. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $3.44 billion. During the same quarter in the prior year, the company earned ($0.56) EPS. Delek US’s revenue was up 47.9% compared to the same quarter last year. On average, sell-side analysts forecast that Delek US Holdings, Inc. will post 10.1 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The business also recently announced 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 1.5%. The ex-dividend date was Monday, August 3rd. Delek US’s payout ratio is currently 28.65%.

Wall Street Analyst Weigh In

DK has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Delek US from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded Delek US from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 9th. Citigroup reiterated a “neutral” rating on shares of Delek US in a research note on Thursday, August 6th. TD Cowen increased their target price on Delek US from $58.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, Mizuho raised their target price on Delek US from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $53.15.

Delek US Profile

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.