Delek US (NYSE:DK) Posts Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Delek US (NYSE:DK) announced its earnings results on Tuesday. The oil and gas company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.15, Briefing.com reports. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate 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 firm earned $1.37 earnings per share.

Delek US Price Performance

Shares of NYSE DK traded down $0.07 during midday trading on Thursday, reaching $27.77. The company’s stock had a trading volume of 186,399 shares, compared to its average volume of 1,035,454. The company has a current ratio of 0.99, a quick ratio of 0.63 and a debt-to-equity ratio of 2.66. The company has a 50 day moving average price of $29.18 and a 200 day moving average price of $27.45. Delek US has a one year low of $21.26 and a one year high of $33.60. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 126.59 and a beta of 1.34.

Delek US Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 17th will be issued a $0.25 dividend. This is an increase from Delek US’s previous quarterly dividend of $0.25. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Thursday, May 16th. Delek US’s payout ratio is presently 454.55%.

Insider Activity

In related news, CFO Robert G. Wright sold 2,123 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $28.50, for a total transaction of $60,505.50. Following the completion of the sale, the chief financial officer now directly owns 18,925 shares of the company’s stock, valued at approximately $539,362.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 4,226 shares of company stock worth $120,775 over the last 90 days. 1.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on DK shares. TD Cowen dropped their target price on shares of Delek US from $27.00 to $25.00 and set a “hold” rating for the company in a report on Wednesday. Wells Fargo & Company raised their price objective on shares of Delek US from $21.00 to $26.00 and gave the stock an “underweight” rating in a research note on Wednesday, March 20th. Citigroup assumed coverage on shares of Delek US in a research report on Wednesday, January 24th. They set a “neutral” rating on the stock. StockNews.com lowered shares of Delek US from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, Bank of America raised 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. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.67.

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.