Delek US Holdings, Inc. (NYSE:DK) Short Interest Down 7.2% in August

Delek US Holdings, Inc. (NYSE:DK) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 6,840,000 shares, a drop of 7.2% from the August 15th total of 7,370,000 shares. Based on an average daily trading volume, of 1,120,000 shares, the days-to-cover ratio is currently 6.1 days. Approximately 10.9% of the company’s shares are sold short.

Insider Activity at Delek US

In other news, CEO Avigal Soreq acquired 5,651 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of $20.42 per share, with a total value of $115,393.42. Following the completion of the purchase, the chief executive officer now directly owns 188,881 shares in the company, valued at $3,856,950.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Delek US

Large investors have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new stake in Delek US during the 1st quarter worth $31,000. Quarry LP purchased a new position in shares of Delek US in the second quarter worth about $43,000. TFO Wealth Partners LLC lifted its stake in shares of Delek US by 627,400.0% in the fourth quarter. TFO Wealth Partners LLC now owns 6,275 shares of the oil and gas company’s stock worth $162,000 after buying an additional 6,274 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Delek US during the first quarter worth about $172,000. Finally, Bailard Inc. purchased a new stake in Delek US during the 2nd quarter valued at about $201,000. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Delek US Stock Performance

Shares of NYSE:DK traded up $0.11 during trading on Wednesday, hitting $20.22. 353,021 shares of the stock traded hands, compared to its average volume of 1,034,859. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 2.50. The company has a fifty day moving average price of $21.13 and a two-hundred day moving average price of $25.27. Delek US has a 52-week low of $18.35 and a 52-week high of $33.60. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -16.21 and a beta of 1.14.

Delek US (NYSE:DK) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.50. Delek US had a negative return on equity of 4.53% and a negative net margin of 0.69%. The firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the previous year, the business earned $1.00 EPS. Delek US’s revenue for the quarter was down 18.4% compared to the same quarter last year. As a group, equities analysts predict that Delek US will post -2.87 EPS for the current year.

Delek US Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were paid a $0.255 dividend. The ex-dividend date of this dividend was Monday, August 12th. This is a positive change from Delek US’s previous quarterly dividend of $0.20. This represents a $1.02 dividend on an annualized basis and a yield of 5.04%. Delek US’s dividend payout ratio (DPR) is currently -82.26%.

Analyst Ratings Changes

A number of research analysts have commented on DK shares. Wolfe Research began coverage on shares of Delek US in a research report on Thursday, July 18th. They set an “underperform” rating and a $19.00 target price on the stock. TD Cowen cut their price objective on shares of Delek US from $19.00 to $18.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Piper Sandler reduced their price objective on shares of Delek US from $30.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. Scotiabank dropped their target price on Delek US from $27.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Finally, Mizuho upgraded Delek US from an “underperform” rating to a “neutral” rating and cut their price target for the company from $28.00 to $26.00 in a report on Monday. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.27.

Delek US Company Profile

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.