Bank of New York Mellon Corp Trims Stock Holdings in Delek US Holdings, Inc. (NYSE:DK)

Bank of New York Mellon Corp cut its holdings in Delek US Holdings, Inc. (NYSE:DK - Free Report) by 54.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,902 shares of the oil and gas company's stock after selling 292,740 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.39% of Delek US worth $4,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of Delek US by 8.0% during the third quarter. State Street Corp now owns 3,019,307 shares of the oil and gas company's stock valued at $56,612,000 after purchasing an additional 223,110 shares during the last quarter. Rubric Capital Management LP bought a new position in shares of Delek US during the third quarter valued at $37,500,000. FMR LLC boosted its position in shares of Delek US by 47.3% during the third quarter. FMR LLC now owns 1,707,773 shares of the oil and gas company's stock valued at $32,021,000 after buying an additional 548,777 shares during the last quarter. Barclays PLC increased its holdings in Delek US by 51.5% in the 3rd quarter. Barclays PLC now owns 1,496,825 shares of the oil and gas company's stock worth $28,065,000 after buying an additional 508,719 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Delek US by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,459,301 shares of the oil and gas company's stock worth $27,368,000 after buying an additional 63,502 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

DK has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Delek US from $18.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Morgan Stanley cut their target price on shares of Delek US from $19.00 to $18.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. JPMorgan Chase & Co. increased their price target on Delek US from $21.00 to $22.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Wolfe Research raised Delek US from an "underperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company increased their target price on Delek US from $15.00 to $16.00 and gave the company an "underweight" rating in a report on Friday. Five equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $20.40.

Insider Transactions at Delek US

In other Delek US news, CFO Mark Wayne Hobbs purchased 2,800 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $13.70 per share, with a total value of $38,360.00. Following the acquisition, the chief financial officer now owns 49,138 shares in the company, valued at approximately $673,190.60. The trade was a 6.04 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought 5,055 shares of company stock valued at $70,787 in the last ninety days. Corporate insiders own 1.80% of the company's stock.

Delek US Price Performance

NYSE DK traded down $0.47 during trading hours on Friday, reaching $16.98. The company's stock had a trading volume of 1,308,898 shares, compared to its average volume of 1,136,618. Delek US Holdings, Inc. has a 1 year low of $13.40 and a 1 year high of $33.60. The company has a quick ratio of 0.67, a current ratio of 1.04 and a debt-to-equity ratio of 3.18. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -3.49 and a beta of 1.14. The firm's 50-day moving average price is $17.47 and its 200-day moving average price is $18.02.

Delek US (NYSE:DK - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The oil and gas company reported ($2.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the firm posted ($1.46) earnings per share. The business's revenue was down 39.8% on a year-over-year basis. On average, equities research analysts predict that Delek US Holdings, Inc. will post -5.5 EPS for the current fiscal year.

Delek US Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, March 3rd were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date was Monday, March 3rd. Delek US's payout ratio is -11.54%.

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.