Putnam Investments LLC Takes $1.57 Million Position in Delek US Holdings, Inc. (NYSE:DK)

Putnam Investments LLC bought a new stake in shares of Delek US Holdings, Inc. (NYSE:DK – Get Rating) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 57,741 shares of the oil and gas company’s stock, valued at approximately $1,567,000.

Several other hedge funds have also modified their holdings of the stock. Advisor Group Holdings Inc. lifted its stake in Delek US by 44.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,582 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 486 shares in the last quarter. American Century Companies Inc. lifted its stake in Delek US by 22.1% in the 1st quarter. American Century Companies Inc. now owns 22,726 shares of the oil and gas company’s stock worth $482,000 after acquiring an additional 4,120 shares in the last quarter. Citigroup Inc. lifted its stake in Delek US by 3.6% in the 1st quarter. Citigroup Inc. now owns 76,831 shares of the oil and gas company’s stock worth $1,630,000 after acquiring an additional 2,683 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Delek US by 55.2% in the 1st quarter. MetLife Investment Management LLC now owns 36,779 shares of the oil and gas company’s stock worth $780,000 after acquiring an additional 13,076 shares in the last quarter. Finally, APG Asset Management N.V. purchased a new stake in Delek US in the 1st quarter worth about $217,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Delek US Stock Performance

DK opened at $22.14 on Tuesday. Delek US Holdings, Inc. has a 52-week low of $17.70 and a 52-week high of $35.45. The firm has a market capitalization of $1.48 billion, a PE ratio of 6.31, a PEG ratio of 0.95 and a beta of 1.43. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.71 and a current ratio of 1.20. The business’s 50-day simple moving average is $25.76 and its 200 day simple moving average is $27.83.

Delek US (NYSE:DK – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The oil and gas company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.05). Delek US had a net margin of 1.27% and a return on equity of 35.96%. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the company earned ($0.61) EPS. Delek US’s quarterly revenue was up 44.1% on a year-over-year basis. As a group, sell-side analysts expect that Delek US Holdings, Inc. will post 4.76 earnings per share for the current fiscal year.

Delek US Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Investors of record on Friday, March 10th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, March 9th. This represents a $0.88 dividend on an annualized basis and a yield of 3.97%. This is an increase from Delek US’s previous quarterly dividend of $0.21. Delek US’s dividend payout ratio is currently 25.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Piper Sandler downgraded Delek US from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $49.00 to $32.00 in a research note on Friday, January 20th. JPMorgan Chase & Co. cut their price target on Delek US from $28.00 to $26.00 and set an “underweight” rating for the company in a research note on Tuesday, November 15th. TheStreet downgraded Delek US from a “b-” rating to a “c+” rating in a research note on Wednesday, December 7th. Mizuho cut their price target on Delek US from $30.00 to $25.00 in a research note on Friday. Finally, Raymond James lowered their price objective on Delek US from $39.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, January 13th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.67.

Delek US Profile

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Delek US Holdings, Inc engages in petroleum refining, and the transportation, storage, and wholesale distribution of crude oil. It operates through the following segments: Refining, Logistics, Retail, and Corporate and Other. The Refining segment processes crude oil and other purchased feedstocks for the manufacture of transportation motor fuels, including gasoline, diesel fuel and aviation fuel, asphalt, and other petroleum-based products.