Rangeley Capital LLC Takes $6.18 Million Position in Delek US Holdings, Inc. (NYSE:DK)

Rangeley Capital LLC acquired a new position in Delek US Holdings, Inc. (NYSE:DK) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 334,000 shares of the oil and gas company’s stock, valued at approximately $6,179,000. Delek US comprises about 5.6% of Rangeley Capital LLC’s portfolio, making the stock its 3rd biggest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Philosophy Capital Management LLC purchased a new stake in shares of Delek US during the third quarter worth $21,471,000. FMR LLC boosted its stake in Delek US by 47.3% in the 3rd quarter. FMR LLC now owns 1,707,773 shares of the oil and gas company’s stock worth $32,021,000 after purchasing an additional 548,777 shares during the period. Barclays PLC grew its holdings in Delek US by 51.5% during the 3rd quarter. Barclays PLC now owns 1,496,825 shares of the oil and gas company’s stock valued at $28,065,000 after buying an additional 508,719 shares in the last quarter. Norges Bank purchased a new stake in shares of Delek US in the fourth quarter worth about $6,815,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Delek US by 65.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 874,477 shares of the oil and gas company’s stock valued at $16,396,000 after acquiring an additional 346,267 shares during the period. 97.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Delek US

In other news, CFO Mark Wayne Hobbs purchased 2,800 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 49,138 shares of the company’s stock, valued at $673,190.60. This trade represents a 6.04 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders have bought 5,055 shares of company stock valued at $70,787. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Delek US from $15.00 to $16.00 and gave the stock an “underweight” rating in a report on Friday, March 21st. Mizuho dropped their price target on Delek US from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Wolfe Research upgraded shares of Delek US from an “underperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Piper Sandler dropped 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 report on Friday, March 7th. Finally, Morgan Stanley decreased their price target on shares of Delek US from $19.00 to $18.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. Five research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.40.

Delek US Trading Up 0.3 %

DK opened at $15.53 on Thursday. The firm has a market capitalization of $970.83 million, a price-to-earnings ratio of -3.20 and a beta of 1.14. Delek US Holdings, Inc. has a one year low of $13.40 and a one year high of $33.60. The business has a 50 day simple moving average of $16.81 and a two-hundred day simple moving average of $17.77. 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 (NYSE:DK) last announced its quarterly earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) EPS for the quarter, missing analysts’ consensus estimates of ($1.53) by ($1.01). The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The business’s revenue was down 39.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.46) EPS. Analysts predict that Delek US Holdings, Inc. will post -5.5 EPS for the current year.

Delek US Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, March 3rd were issued a $0.255 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.02 annualized dividend and a yield of 6.57%. Delek US’s dividend payout ratio (DPR) is presently -11.54%.

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.