Delek US (NYSE:DK) Announces Earnings Results

Delek US (NYSE:DK) announced its quarterly earnings data on Tuesday. The oil and gas company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.15, Briefing.com reports. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.28 billion. Delek US had a net margin of 0.12% and a return on equity of 18.27%. The business’s quarterly revenue was down 17.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.37 earnings per share.

Delek US Stock Performance

Shares of DK stock traded up $0.15 on Wednesday, hitting $28.07. 687,553 shares of the stock were exchanged, compared to its average volume of 1,032,011. The firm’s 50 day moving average is $29.12 and its two-hundred day moving average is $27.44. The company has a current ratio of 0.99, a quick ratio of 0.63 and a debt-to-equity ratio of 2.66. Delek US has a one year low of $20.89 and a one year high of $33.60. The firm has a market capitalization of $1.80 billion, a PE ratio of 126.95 and a beta of 1.34.

Delek US Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This is a positive change from Delek US’s previous quarterly dividend of $0.25. This represents a $1.00 annualized dividend and a dividend yield of 3.56%. Delek US’s payout ratio is presently 454.55%.

Insider Activity

In other Delek US news, CFO Robert G. Wright sold 2,123 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $28.50, for a total value of $60,505.50. Following the transaction, the chief financial officer now directly owns 18,925 shares in the company, valued at approximately $539,362.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 4,976 shares of company stock worth $141,243 in the last three months. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DK. Wells Fargo & Company increased their target price on Delek US from $21.00 to $26.00 and gave the stock an “underweight” rating in a report on Wednesday, March 20th. Scotiabank raised their price objective on shares of Delek US from $25.00 to $27.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Bank of America boosted their target price on shares of Delek US from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. TD Cowen cut their price target on Delek US from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, Citigroup initiated coverage on Delek US in a report on Wednesday, January 24th. They issued a “neutral” rating on the stock. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Delek US presently has a consensus rating of “Hold” and an average target price of $28.67.

Delek US Company Profile

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.