Delek US Holdings, Inc. (NYSE:DK) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its holdings in Delek US Holdings, Inc. (NYSE:DK) by 7.0% during the fourth quarter, HoldingsChannel reports. The fund owned 31,523 shares of the oil and gas company’s stock after selling 2,379 shares during the period. Corebridge Financial Inc.’s holdings in Delek US were worth $583,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. KBC Group NV raised its position in Delek US by 66.3% in the fourth quarter. KBC Group NV now owns 3,859 shares of the oil and gas company’s stock valued at $71,000 after purchasing an additional 1,538 shares during the period. ARS Investment Partners LLC purchased a new stake in Delek US in the 4th quarter valued at about $185,000. Abel Hall LLC purchased a new stake in Delek US in the 4th quarter valued at about $196,000. XTX Topco Ltd acquired a new position in Delek US in the third quarter valued at about $238,000. Finally, Van ECK Associates Corp boosted its stake in Delek US by 17.8% during the fourth quarter. Van ECK Associates Corp now owns 14,111 shares of the oil and gas company’s stock worth $261,000 after buying an additional 2,134 shares during the period. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Delek US Trading Up 2.5 %

DK opened at $12.40 on Tuesday. The business has a fifty day moving average price of $16.46 and a 200 day moving average price of $17.60. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.04 and a quick ratio of 0.67. Delek US Holdings, Inc. has a 12 month low of $11.03 and a 12 month high of $33.27. The stock has a market capitalization of $774.85 million, a price-to-earnings ratio of -2.55 and a beta of 1.04.

Delek US (NYSE:DK) last issued its earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) earnings per share for the quarter, missing the consensus estimate of ($1.53) by ($1.01). Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the business earned ($1.46) EPS. The firm’s revenue was down 39.8% compared to the same quarter last year. Sell-side analysts expect that Delek US Holdings, Inc. will post -5.5 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, March 3rd were paid a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 8.23%. Delek US’s payout ratio is currently -11.54%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DK. Mizuho decreased their price objective on shares of Delek US from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Wells Fargo & Company boosted their target price on Delek US from $15.00 to $16.00 and gave the company an “underweight” rating in a research report on Friday, March 21st. JPMorgan Chase & Co. raised their price target on Delek US from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Wolfe Research upgraded Delek US from an “underperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Piper Sandler lowered their target price on Delek US from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Five investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, Delek US currently has an average rating of “Hold” and an average target price of $19.11.

Insider Activity at Delek US

In related news, CFO Mark Wayne Hobbs purchased 2,800 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $13.70 per share, for a total transaction of $38,360.00. Following the completion of the purchase, the chief financial officer now directly owns 49,138 shares of the company’s stock, valued at approximately $673,190.60. This trade represents a 6.04 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have acquired 5,055 shares of company stock valued at $70,787 over the last quarter. 1.80% of the stock is owned by insiders.

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.