Short Interest in Delek US Holdings, Inc. (NYSE:DK) Drops By 7.2%

Delek US Holdings, Inc. (NYSE:DK) was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 5,660,000 shares, a decrease of 7.2% from the July 15th total of 6,100,000 shares. Approximately 9.0% of the company’s shares are short sold. Based on an average trading volume of 1,010,000 shares, the short-interest ratio is currently 5.6 days.

Insider Activity at Delek US

In other news, Director Richard J. Marcogliese purchased 2,750 shares of the stock in a transaction dated Wednesday, June 12th. The stock was acquired at an average cost of $23.99 per share, for a total transaction of $65,972.50. Following the completion of the transaction, the director now directly owns 42,863 shares in the company, valued at approximately $1,028,283.37. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Delek US news, CEO Avigal Soreq bought 5,651 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $20.42 per share, with a total value of $115,393.42. Following the purchase, the chief executive officer now directly owns 188,881 shares in the company, valued at $3,856,950.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard J. Marcogliese purchased 2,750 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was acquired at an average cost of $23.99 per share, with a total value of $65,972.50. Following the transaction, the director now directly owns 42,863 shares in the company, valued at $1,028,283.37. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 2,854 shares of company stock worth $65,603. Insiders own 1.80% of the company’s stock.

Institutional Trading of Delek US

Institutional investors and hedge funds have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new stake in Delek US in the 1st quarter valued at $31,000. Quarry LP acquired a new position in Delek US in the second quarter valued at $43,000. Strs Ohio purchased a new stake in shares of Delek US in the fourth quarter valued at about $95,000. TFO Wealth Partners LLC boosted its stake in shares of Delek US by 627,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 6,275 shares of the oil and gas company’s stock worth $162,000 after buying an additional 6,274 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Delek US during the first quarter worth about $172,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on DK shares. Piper Sandler reduced their price objective on Delek US from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, June 14th. Wells Fargo & Company reduced their price target on Delek US from $25.00 to $20.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 16th. TD Cowen lowered their price objective on Delek US from $19.00 to $18.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Scotiabank reduced their target price on shares of Delek US from $27.00 to $25.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Finally, Wolfe Research began coverage on shares of Delek US in a report on Thursday, July 18th. They set an “underperform” rating and a $19.00 price target for the company. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Delek US has an average rating of “Hold” and a consensus target price of $25.30.

Delek US Stock Performance

Shares of Delek US stock opened at $20.43 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 1.04 and a debt-to-equity ratio of 2.40. Delek US has a 52 week low of $19.33 and a 52 week high of $33.60. The firm’s 50 day moving average is $22.85 and its two-hundred day moving average is $26.34. The firm has a market capitalization of $1.31 billion, a P/E ratio of -16.48 and a beta of 1.19.

Delek US (NYSE:DK) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) EPS for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.50. Delek US had a negative net margin of 0.48% and a positive return on equity of 7.37%. The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the firm posted $1.00 EPS. The company’s revenue was down 18.4% on a year-over-year basis. Research analysts forecast that Delek US will post -2.83 EPS for the current fiscal year.

Delek US Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were issued a dividend of $0.255 per share. This is a positive change from Delek US’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.02 annualized dividend and a dividend yield of 4.99%. Delek US’s dividend payout ratio (DPR) is presently -82.26%.

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.