Skip to Content

Van ECK Associates Corp sells 13,384 Delek US Holdings, Inc. shares (NYSE:DK)

Van ECK Associates Corp sells 13,384 Delek US Holdings, Inc. shares (NYSE:DK)

The most recent Form 13F filing that Van ECK Associates Corp. made with the Securities and Exchange Commission reveals that during the third quarter, the company’s holdings in Delek US Holdings, Inc. (NYSE: DK) were reduced by 37.5%. After selling 13,384 shares during the most recent quarter, the institutional investor now has 22,352 of the stock of the oil and gas business in their possession. This brings the total number of shares they own to 22,352. According to the company’s most recent SEC filing, the value of Van ECK Associates Corp’s interest in Delek US was $600,000.The company provided this information.

Recent events have resulted in institutional investors and other hedge funds reevaluating the positions they had previously held in the company and making appropriate adjustments. Vanguard Group Inc. increased the amount of Delek US stock owned by 6.2% during the first three months of 2018. Following the acquisition of 446,408 shares during the most recent quarter, Vanguard Group Inc. now owns a total of 7,694,334 shares of the stock of the oil and gas company. The current market value of these shares is $163,273,000. During the second quarter, State Street Corporation increased the percentage of Delek US stock owned by 17.4%. State Street Corp. now has 4,070,279 shares of the oil and gas company’s stock, with an estimated value of $105,176,000. This is after the company made an additional purchase of 603,680 shares during the most recent quarter. During the first three months of 2018, Dimensional Fund Advisors LP completed a 7.7% increase in the Delek US stock held in its portfolio. Following the acquisition of 249,499 additional shares during the most recent quarter, Dimensional Fund Advisors LP owns 3,488,648 shares of the oil and gas business. These shares have a value of $74,030,000, which brings the total value of the company’s holdings to $74,030,000. Ion Asset Management Ltd. increased the amount of Delek US stock owned by 151.1% during the third quarter of the current fiscal year. After making an additional purchase of 1,093,168 shares during the most recent quarter, Ion Asset Management Ltd. now has 1,816,674 shares of the oil and gas business. The value of these shares on the market as of right now is $49,305,000. Millennium Management LLC increased the size of the investment it already held in Delek US by 77.3% during the second quarter. As a direct result of the completion of the acquisitions carried out during the most recent quarter, Millennium Management LLC now directly owns 1,249,537 shares in the oil and gas company, with a value of $32,288,000. Institutions own the vast majority of the company’s shares, which amount to 98.34% of the total.

Researchers with expertise in various disciplines have discussed the organization and offered their points of view. In a research note published on Tuesday, January 10, Mizuho lowered their recommendation for Delek US from “neutral” to “underperform.” During the same period, the company increased its price objective from $25.00 to $30.00. JPMorgan Chase & Co. decreased their price target on Delek US from $28.00 to $26.00 and rated the stock as “underweight” in a research report published on Tuesday, November 15. Raymond James has downgraded Delek US from an “outperform” rating to a “market perform,” They have lowered their price objective for the stock from $39.00 to $35.00. A research note published on Friday made both of these alterations available to the general public for the first time. The research report on Delek US published by Wells Fargo & Company on January 5 included a downgrade of the company from “overweight” to “underweight,” as well as a reduction in the price objective from $40.00 to $24.00.

Along with the report came a reduction in the price target that was projected. downgraded the stock of Delek US from a “buy” recommendation to a “hold” rating in a research report published on Tuesday, December 6. The last and most significant modification was made here. Four analysts advise clients to sell their shares of the company’s stock, four advise clients to maintain their current holdings, and three advise clients to purchase shares. According to the data provided by Bloomberg, the current recommendation that is most commonly given for Delek US is “Hold,” and the consensus price objective for the company is currently set at $32.67.

DK began trading at $25.06 on Tuesday. The price at which Delek US Holdings, Inc. reached its 52-week low was $14.71, while the price at which the company reached its 52-week high was $35.45. The debt-to-equity ratio is calculated to be 2.08, the quick ratio is calculated to be 0.63, and the current ratio is calculated to be 1.05. All of the stock’s metrics, including its price-to-earnings ratio (PE), which is 5.37, its price-to-growth ratio (PEG), which is 0.62, and its beta value, which is 1.42, contribute to its market value of $1.75 billion. The stock is currently trading at $28.72, which is higher than the 50-day moving average of $27.75 and lower than the 200-day moving average of $27.75.

On November 7, a Monday, Delek US (NYSE: DK) disseminated its most recent quarterly earnings report to the public. In the oil and gas industry, earnings per share for the quarter came in at $0.02, which was $0.29 less than the consensus estimate of $0.31 that analysts had provided. The return on equity for Delek US came in at 27.61 percent, and the net margin for the company was 1.771 percent. It was widely believed that the company would report quarterly sales of $4.07 billion; however, it instead reported sales of $5.32 billion, a significant increase over the projection. According to estimates provided by analysts, earnings of $6.13 per share are anticipated for the current fiscal year from Delek US Holdings, Inc.

In addition, on Friday, December 2, the company announced a quarterly dividend and distributed the dividend in the form of payment to shareholders. On Friday, November 18, dividend payments to stockholders who were already on record were sent out. The amount of each dividend payment was $0.21 per share. This results in a dividend payment of $0.84 annually and an investment yield of 3.35 percent. The distribution of the dividend first began on the 17th, which was a Thursday that week. This represents an increase from the previous quarterly dividend payment that Delek US made, which was $0.20. At this time, Delek US’s dividend payout ratio (also known as DPR) stands at 17.99%.

The integrated downstream energy industry is the primary focus of the commercial operations carried out by Delek US Holdings, Inc. in the United States of America. The company is structured in such a way that it is divided into three distinct divisions: retail, logistics, and refining. To manufacture different grades of gasoline, diesel fuel, aviation fuel, asphalt, and other petroleum-based products for distribution through owned and third-party product terminals, the refining division refines crude oil and various feedstocks. After that, these items are offered for sale to end users.


Leave a comment

Your email address will not be published. Required fields are marked *