Hsbc Holdings PLC Sells 22,550 Shares of Delek US Holdings, Inc. $DK

Hsbc Holdings PLC lowered its stake in Delek US Holdings, Inc. (NYSE:DK) by 30.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,204 shares of the oil and gas company’s stock after selling 22,550 shares during the period. Hsbc Holdings PLC’s holdings in Delek US were worth $1,555,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings 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 worth $187,773,000 after purchasing an additional 38,577 shares in the last quarter. Ion Asset Management Ltd. lifted its holdings in Delek US by 1.8% in 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 buying an additional 67,490 shares during the period. State Street Corp lifted its holdings in Delek US by 3.4% in the fourth quarter. State Street Corp now owns 2,639,447 shares of the oil and gas company’s stock worth $78,286,000 after buying an additional 87,846 shares during the period. Morgan Stanley boosted its position in Delek US by 24.7% during the 4th quarter. Morgan Stanley now owns 2,033,037 shares of the oil and gas company’s stock valued at $60,300,000 after acquiring an additional 403,059 shares in the last quarter. Finally, Barclays PLC boosted its position in Delek US by 29.4% during the 3rd quarter. Barclays PLC now owns 1,873,578 shares of the oil and gas company’s stock valued at $60,460,000 after acquiring an additional 425,896 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Delek US

In related news, Director Laurie Z. Tolson sold 4,921 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $46.30, for a total value of $227,842.30. Following the transaction, the director owned 18,226 shares of the company’s stock, valued at approximately $843,863.80. This trade represents a 21.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert G. Wright sold 10,720 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $47.07, for a total transaction of $504,590.40. Following the sale, the executive vice president directly owned 48,148 shares of the company’s stock, valued at approximately $2,266,326.36. This represents a 18.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 34,270 shares of company stock worth $1,571,218 over the last quarter. Company insiders own 3.56% of the company’s stock.

Delek US Stock Performance

Shares of DK stock opened at $50.86 on Wednesday. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -55.89, a price-to-earnings-growth ratio of 0.33 and a beta of 0.60. The company has a debt-to-equity ratio of 10.51, a quick ratio of 0.49 and a current ratio of 0.76. Delek US Holdings, Inc. has a one year low of $19.81 and a one year high of $53.31. The company’s 50-day moving average is $44.72 and its 200 day moving average is $38.90.

Delek US (NYSE:DK) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($1.42) by $1.50. Delek US had a positive return on equity of 22.90% and a negative net margin of 0.48%.The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the company earned ($2.32) EPS. The company’s quarterly revenue was up .4% compared to the same quarter last year. Sell-side analysts expect that Delek US Holdings, Inc. will post 5.27 EPS for the current fiscal year.

Delek US Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, May 1st were paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Friday, May 1st. Delek US’s payout ratio is currently -112.09%.

Analyst Ratings Changes

Several brokerages have recently issued reports on DK. TD Cowen raised Delek US from a “hold” rating to a “buy” rating and increased their target price for the stock from $50.00 to $58.00 in a research report on Monday. Weiss Ratings cut Delek US from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Zacks Research upgraded Delek US from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. Mizuho raised their price objective on Delek US from $54.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Finally, Raymond James Financial boosted their target price on shares of Delek US from $47.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.08.

About Delek US

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.