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

Engineers Gate Manager LP reduced its holdings in Delek US Holdings, Inc. (NYSE:DK) by 76.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,415 shares of the oil and gas company’s stock after selling 235,065 shares during the period. Engineers Gate Manager LP owned about 0.12% of Delek US worth $3,679,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of DK. BlackRock Inc. acquired a new position in shares of Delek US in the 2nd quarter valued at about $275,233,000. Ion Asset Management Ltd. boosted its holdings in shares of Delek US by 1.8% during 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 purchasing an additional 67,490 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Delek US by 4,681.3% during the second quarter. California State Teachers Retirement System now owns 3,411,231 shares of the oil and gas company’s stock worth $173,325,000 after purchasing an additional 3,339,885 shares during the period. State Street Corp grew its position in Delek US by 3.4% during the fourth quarter. State Street Corp now owns 2,639,447 shares of the oil and gas company’s stock valued at $78,286,000 after purchasing an additional 87,846 shares in the last quarter. Finally, Morgan Stanley grew its position in Delek US by 24.7% during the fourth quarter. Morgan Stanley now owns 2,033,037 shares of the oil and gas company’s stock valued at $60,300,000 after purchasing an additional 403,059 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Raymond James Financial increased their target price on shares of Delek US from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Zacks Research upgraded shares of Delek US from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. Wells Fargo & Company upped their price target on shares of Delek US from $59.00 to $82.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 1st. The Goldman Sachs Group increased their price objective on Delek US from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Finally, TD Cowen boosted their target price on Delek US from $58.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $59.09.

Delek US Price Performance

NYSE DK opened at $76.22 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.76 and a debt-to-equity ratio of 7.53. The stock has a market capitalization of $4.67 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.51 and a beta of 0.59. Delek US Holdings, Inc. has a 12-month low of $25.85 and a 12-month high of $78.43. The company has a 50 day moving average price of $65.73 and a two-hundred day moving average price of $51.47.

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

Delek US Announces Dividend

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

Insider Activity

In other news, EVP Reuven Spiegel sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was 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 owned 36,435 shares in the company, valued at approximately $2,485,231.35. This represents a 21.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky Sutil sold 6,397 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $71.50, for a total value of $457,385.50. Following the sale, the director owned 26,407 shares of the company’s stock, valued at approximately $1,888,100.50. This trade represents a 19.50% 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. Over the last three months, insiders sold 160,042 shares of company stock valued at $10,705,777. Corporate insiders own 3.56% of the company’s stock.

About Delek US

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.