PDT Partners LLC Takes Position in Delek US Holdings, Inc. $DK

PDT Partners LLC bought a new position in shares of Delek US Holdings, Inc. (NYSE:DK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 308,336 shares of the oil and gas company’s stock, valued at approximately $15,667,000. Delek US makes up about 0.8% of PDT Partners LLC’s portfolio, making the stock its 19th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its position 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 valued at $26,000 after acquiring an additional 432 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in Delek US during the 3rd quarter worth approximately $27,000. EverSource Wealth Advisors LLC increased its holdings in Delek US by 173.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 968 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 614 shares in the last quarter. Allworth Financial LP purchased a new stake in shares of Delek US in the second quarter worth approximately $30,000. Finally, Torren Management LLC purchased a new stake in shares of Delek US in the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Avigal Soreq sold 80,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 231,486 shares in the company, valued at $15,396,133.86. This trade represents a 25.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J. Finnerty sold 1,457 shares of Delek US stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $64.70, for a total transaction of $94,267.90. Following the completion of the sale, the director directly owned 33,348 shares in the company, valued at $2,157,615.60. This trade represents a 4.19% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 127,086 shares of company stock valued at $8,183,753. Company insiders own 3.56% of the company’s stock.

Delek US Stock Down 0.4%

DK stock opened at $67.80 on Wednesday. The stock has a market cap of $4.15 billion, a P/E ratio of 19.05, a P/E/G ratio of 1.48 and a beta of 0.57. The company has a current ratio of 0.76, a quick ratio of 0.47 and a debt-to-equity ratio of 7.53. The stock’s fifty day simple moving average is $58.95 and its two-hundred day simple moving average is $48.05. Delek US Holdings, Inc. has a 1-year low of $25.33 and a 1-year high of $72.00.

Delek US (NYSE:DK) last released its earnings results on Wednesday, August 5th. The oil and gas company reported $5.48 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $2.81. The company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $3.44 billion. Delek US had a return on equity of 109.03% and a net margin of 1.86%.The business’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.56) EPS. Analysts expect that Delek US Holdings, Inc. will post 10.1 EPS for the current year.

Delek US Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, August 3rd. Delek US’s dividend payout ratio (DPR) is 28.65%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DK. Citigroup reiterated a “neutral” rating on shares of Delek US in a report on Thursday, August 6th. Wall Street Zen upgraded shares of Delek US from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 9th. Zacks Research upgraded shares of Delek US from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. Raymond James Financial raised their price target on shares of Delek US from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Delek US from $57.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Delek US currently has an average rating of “Hold” and a consensus target price of $53.15.

Delek US Company Profile

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.