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

Delek US Holdings, Inc. (NYSE:DK) was the target of a large drop in short interest during the month of 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. Currently, 10.9% of the shares of the company are short sold. Based on an average daily volume of 1,120,000 shares, the short-interest ratio is currently 6.1 days.

Wall Street Analyst Weigh In

Several brokerages have commented on DK. Morgan Stanley lowered their price objective on shares of Delek US from $24.00 to $22.00 and set an “underweight” rating for the company in a research report on Monday. Piper Sandler lowered 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 report on Friday, June 14th. JPMorgan Chase & Co. raised shares of Delek US from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $23.00 to $26.00 in a research note on Tuesday, September 10th. Wells Fargo & Company boosted their target price on shares of Delek US from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 3rd. Finally, Wolfe Research started coverage on shares of Delek US in a research note on Thursday, July 18th. They set an “underperform” rating and a $19.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $25.27.

Insider Activity at Delek US

In other Delek US news, CEO Avigal Soreq purchased 5,651 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of $20.42 per share, for a total transaction of $115,393.42. Following the completion of the transaction, the chief executive officer now owns 188,881 shares in the company, valued at $3,856,950.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by company insiders.

Institutional Trading of Delek US

Institutional investors have recently bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new position in shares of Delek US during the first quarter valued at about $31,000. Quarry LP acquired a new position in shares of Delek US during the second quarter valued at about $43,000. TFO Wealth Partners LLC raised its holdings in shares of Delek US by 627,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 6,275 shares of the oil and gas company’s stock valued at $162,000 after purchasing an additional 6,274 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Delek US during the first quarter valued at about $172,000. Finally, Bailard Inc. acquired a new position in shares of Delek US during the second quarter valued at about $201,000. Institutional investors own 97.01% of the company’s stock.

Delek US Trading Up 2.3 %

DK traded up $0.46 during trading on Thursday, reaching $20.48. 143,289 shares of the stock traded hands, compared to its average volume of 1,031,444. 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 stock has a market capitalization of $1.31 billion, a PE ratio of -16.15 and a beta of 1.14. The stock’s 50-day moving average is $21.09 and its 200 day moving average is $25.23. Delek US has a 12 month low of $18.35 and a 12 month high of $33.60.

Delek US (NYSE:DK) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) EPS for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.50. The business 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%. The business’s quarterly revenue was down 18.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.00 earnings per share. Equities analysts anticipate that Delek US will post -2.87 earnings per share for the current year.

Delek US Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders 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 represents a $1.02 dividend on an annualized basis and a yield of 4.98%. This is a boost from Delek US’s previous quarterly dividend of $0.20. Delek US’s dividend payout ratio is -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.