Voya Investment Management LLC Cuts Stake in Delek US Holdings, Inc. (NYSE:DK)

Voya Investment Management LLC trimmed its holdings in shares of Delek US Holdings, Inc. (NYSE:DK) by 7.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,007 shares of the oil and gas company’s stock after selling 1,511 shares during the quarter. Voya Investment Management LLC’s holdings in Delek US were worth $352,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in shares of Delek US by 23.1% during the fourth quarter. Barclays PLC now owns 1,842,035 shares of the oil and gas company’s stock worth $34,078,000 after purchasing an additional 345,210 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Delek US by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 766,807 shares of the oil and gas company’s stock worth $14,186,000 after acquiring an additional 45,017 shares in the last quarter. Easterly Investment Partners LLC boosted its holdings in Delek US by 2.9% in the 4th quarter. Easterly Investment Partners LLC now owns 765,249 shares of the oil and gas company’s stock worth $14,157,000 after acquiring an additional 21,210 shares during the period. JPMorgan Chase & Co. grew its position in Delek US by 76.8% in the third quarter. JPMorgan Chase & Co. now owns 482,169 shares of the oil and gas company’s stock valued at $9,041,000 after acquiring an additional 209,474 shares in the last quarter. Finally, Norges Bank acquired a new stake in Delek US in the fourth quarter valued at approximately $6,815,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DK has been the topic of a number of recent analyst reports. Raymond James cut their price objective on shares of Delek US from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Piper Sandler lowered their target price on shares of Delek US from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Mizuho reduced their price target on shares of Delek US from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company lowered their price objective on shares of Delek US from $16.00 to $11.00 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. Finally, Scotiabank decreased their target price on Delek US from $24.00 to $14.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Delek US currently has an average rating of “Hold” and a consensus target price of $16.94.

Insider Activity

In related news, CFO Mark Wayne Hobbs purchased 2,800 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $13.70 per share, with a total value of $38,360.00. Following the completion of the acquisition, the chief financial officer now directly owns 49,138 shares in the company, valued at approximately $673,190.60. This trade represents a 6.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders acquired 5,055 shares of company stock worth $70,787. 1.80% of the stock is owned by corporate insiders.

Delek US Price Performance

NYSE:DK opened at $15.34 on Monday. The company has a fifty day moving average price of $14.10 and a 200 day moving average price of $16.61. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.04 and a quick ratio of 0.67. The stock has a market cap of $931.55 million, a P/E ratio of -3.16 and a beta of 0.74. Delek US Holdings, Inc. has a one year low of $11.03 and a one year high of $28.91.

Delek US (NYSE:DK) last posted its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported ($2.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.27) by ($0.05). The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.56 billion. Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The business’s revenue for the quarter was down 18.1% on a year-over-year basis. During the same period last year, the company earned ($0.41) EPS. Analysts anticipate that Delek US Holdings, Inc. will post -5.5 earnings per share for the current year.

Delek US Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 19th. Shareholders of record on Monday, May 12th will be given a $0.255 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.02 annualized dividend and a yield of 6.65%. Delek US’s payout ratio is -9.18%.

Delek US 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.