Point72 Asia Singapore Pte. Ltd. Sells 9,920 Shares of Delek US Holdings, Inc. (NYSE:DK)

Point72 Asia Singapore Pte. Ltd. lowered its stake in Delek US Holdings, Inc. (NYSE:DK) by 79.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,598 shares of the oil and gas company’s stock after selling 9,920 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Delek US were worth $64,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Quarry LP bought a new position in Delek US in the 2nd quarter worth about $43,000. Allspring Global Investments Holdings LLC bought a new position in Delek US in the 1st quarter worth about $172,000. Bailard Inc. bought a new position in Delek US in the 2nd quarter worth about $201,000. Capstone Investment Advisors LLC bought a new position in Delek US in the 1st quarter worth about $265,000. Finally, Counterpoint Mutual Funds LLC bought a new position in Delek US in the 1st quarter worth about $270,000. Institutional investors own 97.01% of the company’s stock.

Delek US Price Performance

Shares of Delek US stock opened at $20.26 on Friday. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.98 and a quick ratio of 0.58. The business’s 50 day simple moving average is $20.35 and its two-hundred day simple moving average is $24.58. The stock has a market capitalization of $1.30 billion, a P/E ratio of -16.34 and a beta of 1.13. Delek US Holdings, Inc. has a one year low of $18.25 and a one year high of $33.60.

Delek US (NYSE:DK) last posted its 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. 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 for the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the previous year, the firm earned $1.00 earnings per share. The business’s revenue was down 18.4% compared to the same quarter last year. Analysts forecast that Delek US Holdings, Inc. will post -3.19 EPS for the current year.

Delek US Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were paid a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, August 12th. This is a boost 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 -82.26%.

Insider Activity

In other Delek US news, CEO Avigal Soreq bought 5,651 shares of Delek US stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of $20.42 per share, with a total value of $115,393.42. Following the completion of the purchase, the chief executive officer now owns 188,881 shares of the company’s stock, valued at approximately $3,856,950.02. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on DK. Wells Fargo & Company raised their target price on Delek US from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 3rd. Piper Sandler dropped their target price on Delek US from $25.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Scotiabank dropped their target price on Delek US from $27.00 to $25.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. TD Cowen dropped their target price on Delek US from $19.00 to $18.00 and set a “sell” rating for the company in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. dropped their target price on Delek US from $26.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $24.09.

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.