Goldman Sachs Group Inc. boosted its position in shares of Delek US Holdings, Inc. (NYSE:DK) by 73.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,963,259 shares of the oil and gas company’s stock after buying an additional 1,258,853 shares during the period. Goldman Sachs Group Inc. owned 3.52% of Delek US worth $103,536,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of DK. Macquarie Group Ltd. purchased a new stake in shares of Delek US in the third quarter valued at approximately $273,000. Ameriprise Financial Inc. grew its position in shares of Delek US by 371.2% in the third quarter. Ameriprise Financial Inc. now owns 458,456 shares of the oil and gas company’s stock valued at $12,254,000 after purchasing an additional 361,162 shares in the last quarter. Magnetar Financial LLC grew its position in shares of Delek US by 149.0% in the third quarter. Magnetar Financial LLC now owns 33,156 shares of the oil and gas company’s stock valued at $886,000 after purchasing an additional 19,840 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of Delek US by 4.8% in the third quarter. New York State Common Retirement Fund now owns 121,916 shares of the oil and gas company’s stock valued at $3,259,000 after purchasing an additional 5,555 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Delek US by 5.0% in the third quarter. Legal & General Group Plc now owns 118,626 shares of the oil and gas company’s stock valued at $3,166,000 after purchasing an additional 5,639 shares in the last quarter. Institutional investors own 91.07% of the company’s stock.
In other Delek US news, insider Daniel L. Gordon sold 2,500 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was sold at an average price of $37.57, for a total value of $93,925.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Avigal Soreq sold 3,091 shares of the firm’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $36.00, for a total value of $111,276.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 265,591 shares of company stock worth $9,855,201. Insiders own 1.61% of the company’s stock.
Delek US (NYSE:DK) last announced its quarterly earnings data on Monday, February 26th. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.10. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Delek US had a return on equity of 5.99% and a net margin of 3.99%. The company’s revenue for the quarter was up 129.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.44) earnings per share. sell-side analysts predict that Delek US Holdings, Inc. will post 2.35 EPS for the current fiscal year.
Delek US announced that its board has authorized a share buyback plan on Monday, February 26th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Monday, March 12th will be paid a $0.20 dividend. This is a boost from Delek US’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Friday, March 9th. Delek US’s dividend payout ratio (DPR) is presently 19.61%.
DK has been the subject of several analyst reports. Morgan Stanley upgraded Delek US from an “equal weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a research report on Thursday, January 11th. Wells Fargo & Co upgraded Delek US from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Tuesday, November 14th. Tudor Pickering upgraded Delek US from a “hold” rating to a “buy” rating in a research report on Friday, November 17th. Zacks Investment Research lowered Delek US from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $42.00 price objective on shares of Delek US in a research report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $37.43.
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About Delek US
Delek US Holdings, Inc is a diversified downstream energy company. The Company has a broad platform consisting of refining, logistics, retail and wholesale marketing, renewables and asphalt operations. It operates through five segments: refining, logistics, asphalt, renewable and retail. Its refining assets consist of refineries operated in Tyler and Big Spring, Texas, El Dorado, Arkansas and Krotz Springs, Louisiana with a combined nameplate crude throughput capacity of 302,000 barrels per day.
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