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

Delek US (NYSE:DK) posted its earnings results on Tuesday. The oil and gas company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.15, Briefing.com reports. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Delek US had a net margin of 0.12% and a return on equity of 18.27%. The firm’s revenue for the quarter was down 17.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.37 earnings per share.

Delek US Price Performance

Shares of DK opened at $28.00 on Friday. The stock has a market capitalization of $1.79 billion, a P/E ratio of 127.27 and a beta of 1.34. Delek US has a twelve month low of $21.26 and a twelve month high of $33.60. The company has a 50 day moving average of $29.23 and a 200-day moving average of $27.45. The company has a quick ratio of 0.63, a current ratio of 0.99 and a debt-to-equity ratio of 2.66.

Delek US Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 17th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Thursday, May 16th. This is a positive change from Delek US’s previous quarterly dividend of $0.25. Delek US’s dividend payout ratio (DPR) is currently 454.55%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Mizuho upped their price objective on shares of Delek US from $26.00 to $30.00 and gave the stock an “underperform” rating in a research note on Friday, March 22nd. Bank of America increased their price target on shares of Delek US from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. TD Cowen dropped their price objective on shares of Delek US from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Wednesday. Wells Fargo & Company lifted their target price on Delek US from $21.00 to $26.00 and gave the company an “underweight” rating in a research note on Wednesday, March 20th. Finally, Scotiabank raised their price target on Delek US from $25.00 to $27.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Delek US currently has an average rating of “Hold” and a consensus target price of $28.67.

Insider Activity at Delek US

In other news, CFO Robert G. Wright sold 2,123 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $28.50, for a total transaction of $60,505.50. Following the sale, the chief financial officer now owns 18,925 shares in the company, valued at approximately $539,362.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 4,226 shares of company stock valued at $120,775. Corporate insiders own 1.80% of the company’s stock.

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.