Mackenzie Financial Corp Boosts Stake in Delek US Holdings, Inc. (NYSE:DK)

Mackenzie Financial Corp raised its holdings in Delek US Holdings, Inc. (NYSE:DK) by 60.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,356 shares of the oil and gas company’s stock after acquiring an additional 8,392 shares during the period. Mackenzie Financial Corp’s holdings in Delek US were worth $554,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Encompass Capital Advisors LLC purchased a new position in Delek US in the second quarter worth $22,833,000. SIR Capital Management L.P. lifted its stake in Delek US by 37.2% during the second quarter. SIR Capital Management L.P. now owns 876,133 shares of the oil and gas company’s stock worth $21,693,000 after purchasing an additional 237,734 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Delek US in the 2nd quarter worth about $19,806,000. Bridgeway Capital Management LLC increased its position in shares of Delek US by 3.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 777,576 shares of the oil and gas company’s stock valued at $20,061,000 after purchasing an additional 23,509 shares during the last quarter. Finally, Easterly Investment Partners LLC raised its holdings in shares of Delek US by 26.7% during the 2nd quarter. Easterly Investment Partners LLC now owns 457,536 shares of the oil and gas company’s stock valued at $11,329,000 after buying an additional 96,531 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Insider Buying and Selling

In other Delek US news, CEO Avigal Soreq bought 5,651 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of $20.42 per share, for a total transaction of $115,393.42. Following the acquisition, the chief executive officer now owns 188,881 shares in the company, valued at approximately $3,856,950.02. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. 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 price target on the stock. Piper Sandler reduced their target price on shares of Delek US from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Mizuho raised shares of Delek US from an “underperform” rating to a “neutral” rating and lowered their price target for the stock from $28.00 to $26.00 in a research note on Monday, September 16th. Morgan Stanley reduced their price objective on Delek US from $24.00 to $22.00 and set an “underweight” rating on the stock in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. lowered their target price on Delek US from $26.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $24.09.

Delek US Stock Performance

NYSE:DK opened at $20.26 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 2.50. Delek US Holdings, Inc. has a twelve month low of $18.25 and a twelve month high of $33.60. The stock has a market cap of $1.30 billion, a P/E ratio of -16.34 and a beta of 1.13. The firm’s fifty day simple moving average is $20.35 and its 200 day simple moving average is $24.58.

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 (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.50. The company had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. Delek US’s quarterly revenue was down 18.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.00 earnings per share. As a group, research analysts predict that Delek US Holdings, Inc. will post -3.19 EPS for the current year.

Delek US Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were given a dividend of $0.255 per share. 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 annualized dividend and a dividend yield of 5.03%. Delek US’s payout ratio is currently -82.26%.

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.