Delek US (NYSE:DK) Issues Quarterly Earnings Results

Delek US (NYSE:DK) announced its quarterly earnings data on Friday. The oil and gas company reported $7.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $6.85, Briefing.com reports. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.76 billion. Delek US had a negative net margin of 7.11% and a negative return on equity of 79.27%. The company’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm posted ($1.45) EPS.

Delek US Trading Up 5.8%

NYSE:DK traded up $2.26 during midday trading on Friday, hitting $41.47. 3,974,566 shares of the company traded hands, compared to its average volume of 1,293,048. The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 10.48. The firm’s fifty day moving average is $33.63 and its 200-day moving average is $25.15. The firm has a market capitalization of $2.49 billion, a P/E ratio of -3.37 and a beta of 0.99. Delek US has a 12-month low of $11.02 and a 12-month high of $43.50.

Delek US Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, November 10th will be issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, November 10th. Delek US’s dividend payout ratio is presently -8.30%.

Insiders Place Their Bets

In other news, CFO Robert G. Wright sold 7,135 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $29.24, for a total value of $208,627.40. Following the sale, the chief financial officer owned 48,294 shares of the company’s stock, valued at approximately $1,412,116.56. This represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by company insiders.

Institutional Trading of Delek US

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DK. Bank of America Corp DE boosted its position in shares of Delek US by 144.3% during the second quarter. Bank of America Corp DE now owns 632,695 shares of the oil and gas company’s stock valued at $13,400,000 after buying an additional 373,678 shares during the period. Lighthouse Investment Partners LLC purchased a new stake in shares of Delek US in the second quarter worth approximately $3,706,000. JPMorgan Chase & Co. lifted its stake in shares of Delek US by 102.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 241,391 shares of the oil and gas company’s stock worth $7,790,000 after acquiring an additional 121,910 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in Delek US during the 2nd quarter valued at $1,609,000. Finally, Brevan Howard Capital Management LP grew its position in Delek US by 118.2% in the 2nd quarter. Brevan Howard Capital Management LP now owns 128,880 shares of the oil and gas company’s stock valued at $2,730,000 after acquiring an additional 69,806 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DK. Cowen raised shares of Delek US from a “sell” rating to a “hold” rating in a research note on Friday, September 19th. Morgan Stanley set a $34.00 price target on shares of Delek US and gave the stock an “equal weight” rating in a research note on Friday, October 3rd. UBS Group raised their price objective on Delek US from $24.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, September 2nd. Raymond James Financial boosted their target price on Delek US from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Finally, The Goldman Sachs Group raised their price target on Delek US from $28.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Delek US has an average rating of “Hold” and a consensus price target of $33.00.

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.