Delek US Holdings, Inc. (NYSE:DK) Sees Large Increase in Short Interest

Delek US Holdings, Inc. (NYSE:DK) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 9,070,000 shares, an increase of 6.6% from the October 31st total of 8,510,000 shares. Based on an average trading volume of 1,210,000 shares, the days-to-cover ratio is currently 7.5 days. Currently, 14.7% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DK. Scotiabank decreased their price objective on shares of Delek US from $25.00 to $22.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. TD Cowen dropped their price objective on shares of Delek US from $19.00 to $18.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Morgan Stanley dropped their price target on Delek US from $24.00 to $22.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. Wells Fargo & Company reduced their price target on shares of Delek US from $21.00 to $18.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 9th. Finally, StockNews.com downgraded shares of Delek US from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. Six equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $21.00.

Delek US Price Performance

Shares of Delek US stock opened at $19.90 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.67 and a debt-to-equity ratio of 3.18. The firm’s 50-day moving average is $18.17 and its two-hundred day moving average is $21.15. Delek US has a 1 year low of $15.36 and a 1 year high of $33.60.

Delek US (NYSE:DK) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($1.45) EPS for the quarter, topping the consensus estimate of ($1.71) by $0.26. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.23 billion. Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The company’s quarterly revenue was down 34.3% on a year-over-year basis. During the same period last year, the business posted $2.02 earnings per share. As a group, sell-side analysts anticipate that Delek US will post -4.41 EPS for the current fiscal year.

Delek US Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th were given a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 5.13%. The ex-dividend date of this dividend was Tuesday, November 12th. Delek US’s payout ratio is currently -20.99%.

Institutional Investors Weigh In On Delek US

Institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in Delek US by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 41,605 shares of the oil and gas company’s stock valued at $1,279,000 after purchasing an additional 1,829 shares during the period. Harbor Capital Advisors Inc. raised its position in shares of Delek US by 41.7% in the second quarter. Harbor Capital Advisors Inc. now owns 48,835 shares of the oil and gas company’s stock valued at $1,209,000 after purchasing an additional 14,367 shares during the period. SG Americas Securities LLC grew its holdings in shares of Delek US by 419.4% during the 2nd quarter. SG Americas Securities LLC now owns 80,297 shares of the oil and gas company’s stock worth $1,988,000 after purchasing an additional 64,837 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of Delek US by 16.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 27,944 shares of the oil and gas company’s stock valued at $692,000 after acquiring an additional 4,005 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its position in shares of Delek US by 1.8% during the second quarter. SummerHaven Investment Management LLC now owns 32,845 shares of the oil and gas company’s stock worth $813,000 after buying an additional 580 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.