Fisher Asset Management LLC Cuts Stock Holdings in Delek US Holdings, Inc. (NYSE:DK)

Fisher Asset Management LLC cut its stake in shares of Delek US Holdings, Inc. (NYSE:DK) by 1.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,791,080 shares of the oil and gas company’s stock after selling 18,403 shares during the quarter. Fisher Asset Management LLC’s holdings in Delek US were worth $33,583,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. SummerHaven Investment Management LLC boosted its holdings in Delek US by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 32,845 shares of the oil and gas company’s stock valued at $813,000 after acquiring an additional 580 shares during the last quarter. F M Investments LLC grew its holdings in shares of Delek US by 0.5% during the 3rd quarter. F M Investments LLC now owns 174,652 shares of the oil and gas company’s stock worth $3,275,000 after purchasing an additional 807 shares during the period. Thoroughbred Financial Services LLC grew its holdings in shares of Delek US by 2.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 50,394 shares of the oil and gas company’s stock worth $1,247,000 after purchasing an additional 1,246 shares during the period. The Manufacturers Life Insurance Company increased its position in Delek US by 4.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,415 shares of the oil and gas company’s stock worth $827,000 after purchasing an additional 1,282 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its holdings in Delek US by 5.1% in the third quarter. Wedge Capital Management L L P NC now owns 29,363 shares of the oil and gas company’s stock valued at $551,000 after buying an additional 1,419 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on DK shares. Morgan Stanley decreased their price objective on shares of Delek US from $24.00 to $22.00 and set an “underweight” rating for the company in a research note on Monday, September 16th. StockNews.com cut shares of Delek US from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. Scotiabank cut their price objective on Delek US from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Piper Sandler decreased their target price on Delek US from $25.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Finally, Mizuho upgraded Delek US from an “underperform” rating to a “neutral” rating and dropped their target price for the company from $28.00 to $26.00 in a report on Monday, September 16th. Six analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.00.

Delek US Stock Performance

Shares of DK opened at $19.38 on Wednesday. The firm has a fifty day moving average of $18.22 and a 200-day moving average of $21.38. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -3.99 and a beta of 1.15. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.67 and a current ratio of 1.04. Delek US Holdings, Inc. has a 1 year low of $15.36 and a 1 year high of $33.60.

Delek US (NYSE:DK) last posted its earnings results on Wednesday, November 6th. The oil and gas company reported ($1.45) EPS for the quarter, topping the consensus estimate of ($1.71) by $0.26. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. Delek US’s quarterly revenue was down 34.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.02 EPS. As a group, equities analysts anticipate that Delek US Holdings, Inc. will post -4.4 earnings per share for the current year.

Delek US Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 5.26%. The ex-dividend date of this dividend was Tuesday, November 12th. Delek US’s payout ratio is currently -20.99%.

About Delek US

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.