Delek US (NYSE:DK) Announces Quarterly Earnings Results, Beats Estimates By $1.93 EPS

Delek US (NYSE:DKGet Rating) released its quarterly earnings data on Thursday. The oil and gas company reported $4.40 EPS for the quarter, topping the consensus estimate of $2.47 by $1.93, Briefing.com reports. The company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $4.09 billion. Delek US had a negative net margin of 0.77% and a negative return on equity of 5.95%. Delek US’s revenue for the quarter was up 173.0% on a year-over-year basis. During the same period last year, the firm earned ($0.88) EPS.

Delek US Price Performance

Shares of Delek US stock traded down $0.04 on Friday, hitting $24.25. 1,509,884 shares of the company traded hands, compared to its average volume of 1,437,628. The firm’s 50-day simple moving average is $27.13 and its 200 day simple moving average is $23.31. The company has a current ratio of 0.97, a quick ratio of 0.60 and a debt-to-equity ratio of 2.19. The company has a market cap of $2.14 billion, a P/E ratio of -18.07, a P/E/G ratio of 0.21 and a beta of 1.56. Delek US has a 12-month low of $13.48 and a 12-month high of $35.23.

Delek US Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Friday, August 19th.

Analysts Set New Price Targets

DK has been the subject of several analyst reports. Raymond James raised their price objective on shares of Delek US from $32.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday. Piper Sandler raised their price target on shares of Delek US from $41.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, June 9th. StockNews.com raised shares of Delek US from a “hold” rating to a “buy” rating in a report on Saturday, May 21st. Wells Fargo & Company raised their price target on shares of Delek US from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, June 14th. Finally, TheStreet raised shares of Delek US from a “d+” rating to a “c” rating in a report on Wednesday, April 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.45.

Hedge Funds Weigh In On Delek US

Large investors have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. raised its position 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 purchasing an additional 486 shares during the period. Parkside Financial Bank & Trust raised its position in Delek US by 61.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 2,086 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 793 shares during the period. Great West Life Assurance Co. Can raised its position in Delek US by 28.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 8,310 shares of the oil and gas company’s stock worth $188,000 after purchasing an additional 1,842 shares during the period. Point72 Hong Kong Ltd purchased a new position in Delek US in the 1st quarter worth $208,000. Finally, APG Asset Management N.V. bought a new stake in Delek US in the 1st quarter worth $217,000. Hedge funds and other institutional investors own 74.69% of the company’s stock.

Delek US Company Profile

(Get Rating)

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through three segments: Refining, Logistics, and Retail. 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.

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Earnings History for Delek US (NYSE:DK)

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