Engineers Gate Manager LP Has $3.68 Million Stock Position in Delek US Holdings, Inc. $DK

Engineers Gate Manager LP reduced its position in shares of Delek US Holdings, Inc. (NYSE:DK) by 76.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 72,415 shares of the oil and gas company’s stock after selling 235,065 shares during the quarter. Engineers Gate Manager LP’s holdings in Delek US were worth $3,679,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of DK. Caitong International Asset Management Co. Ltd raised its holdings in Delek US by 95.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 432 shares during the period. Brown Brothers Harriman & Co. bought a new stake in Delek US during the third quarter valued at about $27,000. EverSource Wealth Advisors LLC boosted its holdings in Delek US by 173.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 614 shares during the period. Allworth Financial LP acquired a new stake in shares of Delek US in the second quarter valued at about $30,000. Finally, Focus Partners Wealth acquired a new stake in shares of Delek US in the third quarter valued at about $44,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Delek US Price Performance

Shares of NYSE:DK opened at $76.22 on Friday. The firm has a market capitalization of $4.67 billion, a PE ratio of 21.41, a PEG ratio of 1.51 and a beta of 0.59. The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53. Delek US Holdings, Inc. has a 1-year low of $25.85 and a 1-year high of $78.43. The business’s 50 day moving average is $65.73 and its 200-day moving average is $51.47.

Delek US (NYSE:DK) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $2.81. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.44 billion. Delek US had a return on equity of 109.03% and a net margin of 1.86%.Delek US’s revenue was up 47.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.56) earnings per share. Sell-side analysts predict that Delek US Holdings, Inc. will post 11.93 earnings per share for the current year.

Delek US Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, August 3rd. Delek US’s payout ratio is 28.65%.

Analyst Upgrades and Downgrades

DK has been the topic of a number of recent analyst reports. Zacks Research upgraded Delek US from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 26th. Wells Fargo & Company raised their target price on Delek US from $59.00 to $82.00 and gave the company an “overweight” rating in a report on Tuesday, September 1st. Mizuho lifted their price target on Delek US from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Raymond James Financial upped their price target on Delek US from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Wall Street Zen raised Delek US from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $59.09.

Insider Buying and Selling

In other news, CEO Avigal Soreq sold 80,000 shares of Delek US stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $66.51, for a total transaction of $5,320,800.00. Following the sale, the chief executive officer directly owned 231,486 shares in the company, valued at approximately $15,396,133.86. The trade was a 25.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Reuven Spiegel sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $68.21, for a total transaction of $682,100.00. Following the completion of the sale, the executive vice president directly owned 36,435 shares in the company, valued at approximately $2,485,231.35. The trade was a 21.54% 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. In the last quarter, insiders have sold 160,042 shares of company stock worth $10,705,777. Insiders own 3.56% of the company’s stock.

Delek US Profile

Delek US Holdings, Inc (NYSE: DK) is a downstream energy company engaged primarily in petroleum refining, wholesale fuel marketing and logistics. The company produces transportation fuels and other refined petroleum products, including gasoline, diesel, jet fuel and asphalt.

Delek US operates refineries in the southern United States, including facilities in Texas, Arkansas and Louisiana. Its refining operations are supported by crude oil gathering, transportation, storage and other logistics activities conducted through Delek Logistics Partners, a publicly traded master limited partnership that is managed and partially owned by Delek US.

Founded in 2001 and headquartered in Brentwood, Tennessee, Delek US serves regional markets across the central and southeastern United States.