Callodine Capital Management LP Makes New Investment in Delek US Holdings, Inc. (NYSE:DK)

Callodine Capital Management LP purchased a new position in Delek US Holdings, Inc. (NYSE:DK) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 35,000 shares of the oil and gas company’s stock, valued at approximately $648,000. Callodine Capital Management LP owned about 0.06% of Delek US as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. lifted its holdings in shares of Delek US by 2.3% in the 4th quarter. Sei Investments Co. now owns 52,595 shares of the oil and gas company’s stock valued at $973,000 after purchasing an additional 1,192 shares during the last quarter. Orion Portfolio Solutions LLC increased its position in Delek US by 7.6% during the third quarter. Orion Portfolio Solutions LLC now owns 18,254 shares of the oil and gas company’s stock worth $342,000 after buying an additional 1,292 shares during the period. Sterling Capital Management LLC lifted its stake in Delek US by 728.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,491 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 1,311 shares during the last quarter. XTX Topco Ltd lifted its stake in Delek US by 11.2% in the fourth quarter. XTX Topco Ltd now owns 14,122 shares of the oil and gas company’s stock valued at $261,000 after buying an additional 1,418 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Delek US by 8.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 19,500 shares of the oil and gas company’s stock valued at $361,000 after acquiring an additional 1,464 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Morgan Stanley reduced their price target on shares of Delek US from $19.00 to $18.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Wolfe Research raised shares of Delek US from an “underperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Piper Sandler decreased their target price on shares of Delek US from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Wells Fargo & Company dropped their price target on Delek US from $16.00 to $11.00 and set an “underweight” rating on the stock in a research report on Wednesday. Finally, UBS Group decreased their price objective on Delek US from $21.00 to $13.25 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.48.

Insiders Place Their Bets

In other Delek US news, CFO Mark Wayne Hobbs bought 2,800 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $13.70 per share, for a total transaction of $38,360.00. Following the acquisition, the chief financial officer now owns 49,138 shares of the company’s stock, valued at $673,190.60. The trade was a 6.04 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders have bought 5,055 shares of company stock worth $70,787. 1.90% of the stock is owned by corporate insiders.

Delek US Price Performance

Shares of NYSE DK opened at $12.87 on Friday. The company’s fifty day moving average is $15.19 and its two-hundred day moving average is $17.16. The company has a debt-to-equity ratio of 3.18, a quick ratio of 0.67 and a current ratio of 1.04. The firm has a market capitalization of $804.67 million, a P/E ratio of -2.65 and a beta of 1.04. Delek US Holdings, Inc. has a one year low of $11.03 and a one year high of $30.22.

Delek US (NYSE:DK) last issued its earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) earnings per share for the quarter, missing the consensus estimate of ($1.53) by ($1.01). Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the company posted ($1.46) earnings per share. The company’s quarterly revenue was down 39.8% compared to the same quarter last year. Analysts forecast that Delek US Holdings, Inc. will post -5.5 EPS for the current fiscal year.

Delek US Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, March 3rd were issued a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.02 annualized dividend and a yield of 7.92%. Delek US’s dividend payout ratio is presently -11.54%.

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.