Stock Monitor: Adams Resources & Energy Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 21, 2018 / Active-Investors.com has just released a free research report on Delek US Holdings, Inc. (NYSE: DK) ("Delek"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=DK as the Company's latest news hit the wire. On March 19, 2018, the Company announced that it has completed the divestment of its AltAir Paramount, LLC and Paramount's California-based refining and pipeline assets to an affiliate of World Energy, LLC. Delek expects to receive approximately $72 million for these assets and the amount includes adjustments for estimated working capital, the Company's portion of the biodiesel tax credit for 2017, and transaction related costs. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Adams Resources & Energy, Inc. (NYSE AMER: AE), which also belongs to the Basic Materials sector as the Company Delek US Holdings. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Delek US Holdings most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Details of the Divestment
The assets divested under the current transaction includes Delek's 100% interest in renewable jet and diesel producer AltAir Paramount, LLC, refinery assets of Paramount Petroleum, LLC, including associated pipelines and storage tanks. The divested assets include the following:
- A 63-acre complex which houses a renewable jet / renewable diesel production facility with capacity of 45 million gallon per year;
- Product storage area for 1.7 million barrels;
- A truck rack with 28 thousand barrels per day of throughput capacity;
- A rail storage for up to 70 rail-cars;
- 71-mile-long pipelines connecting the jet and diesel production facility to major distribution hubs in southern California including Long Beach.
Post the close of transaction, Bryan Sherbacow, Co-founder of AltAir, will join World Energy's leadership team.
The decision to divest these assets is part of Delek's strategy of monetizing non-core assets in California. Delek plans to utilize the funds from the current transaction and any future divestments to increase cash for distribution to its shareholders.
Commenting on the divestment, Uzi Yemin, Chairman, President and CEO of Delek, said:
"We have been focused on deriving value from our non-core assets in California as they are outside of our geographic footprint. This marks the second step in this process following the announced agreement to divest five west coast asphalt terminals for $75.0 million. The Paramount transaction provides additional cash to Delek and should enable us to reduce costs. We continue to evaluate options for our Long Beach and Bakersfield assets."
Gene Gebolys, CEO of World Energy, added:
"This acquisition places us in the heart of the growing California cleaner fuels market by adding to our platform the world's first renewable jet refinery and one of only three US renewable diesel plants. Our move into California, into renewable jet/diesel technology, and into expanding our downstream distribution capabilities are important next steps in our effort to establish a reliable coast to coast supply presence for growing blended biofuel customers."
About World Energy
Founded in 1998, Boston, Massachusetts-based World Energy has been at the forefront of biodiesel commercialization, playing critical roles in manufacturing, distribution, market development, and international trade. It is one of the largest and longest serving advanced biofuel suppliers in North America with biodiesel manufacturing plants in Houston - Texas, Natchez - Mississippi, Rome - Georgia, Harrisburg - Pennsylvania, and now Paramount - California. The Company produces over 200 Million gallons (660,660 Metric Tons) of biodiesel annually.
About Delek US Holdings Inc.
Founded in 2001, Brentwood, Tennessee-based Delek is a downstream energy company with assets in petroleum refining, logistics, convenience store retailing, asphalt, and renewables. The Company's refining assets include refineries in Tyler and Big Spring, Texas, El Dorado, Arkansas, and Krotz Springs, Louisiana. The combined crude throughput capacity from these refineries is 302,000 barrels per day.
Stock Performance Snapshot
March 20, 2018 - At Tuesday's closing bell, Delek US Holdings' stock climbed 1.05%, ending the trading session at $38.46.
Volume traded for the day: 1.14 million shares.
Stock performance in the last month – up 14.46%; previous three-month period – up 18.19%; past twelve-month period – up 50.82%; and year-to-date - up 10.07%
After yesterday's close, Delek US Holdings' market cap was at $3.08 billion.
Price to Earnings (P/E) ratio was at 26.27.
The stock has a dividend yield of 2.08%.
The stock is part of the Basic Materials sector, categorized under the Oil & Gas Refining & Marketing industry. This sector was up 0.5% at the end of the session.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.