Delek US (NYSE:DK) Releases Earnings Results, Beats Expectations By $0.50 EPS

Delek US (NYSE:DK) posted its quarterly earnings data on Tuesday. The oil and gas company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($1.42) by $0.50, Briefing.com reports. The company had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.31 billion. Delek US had a positive return on equity of 7.37% and a negative net margin of 0.48%. Delek US’s quarterly revenue was down 18.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 EPS.

Delek US Price Performance

Shares of NYSE:DK traded up $0.79 on Wednesday, hitting $20.13. The company had a trading volume of 2,082,100 shares, compared to its average volume of 1,012,499. The company has a market cap of $1.29 billion, a PE ratio of -16.44 and a beta of 1.19. The business has a 50 day moving average of $23.68 and a 200 day moving average of $26.70. Delek US has a 52-week low of $19.33 and a 52-week high of $33.60. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 2.40.

Delek US Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Monday, August 12th will be issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend is Monday, August 12th. This is a boost from Delek US’s previous quarterly dividend of $0.20. Delek US’s dividend payout ratio is -82.26%.

Insider Activity

In related news, Director Richard J. Marcogliese purchased 2,750 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were bought at an average price of $23.99 per share, for a total transaction of $65,972.50. Following the acquisition, the director now directly owns 42,863 shares in the company, valued at $1,028,283.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 2,104 shares of company stock valued at $50,348 over the last 90 days. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DK. TD Cowen cut shares of Delek US from a “hold” rating to a “sell” rating and dropped their price target for the company from $25.00 to $20.00 in a research note on Monday, June 10th. Scotiabank dropped their price objective on shares of Delek US from $27.00 to $25.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Mizuho decreased their price target on shares of Delek US from $31.00 to $27.00 and set an “underperform” rating for the company in a research report on Thursday, June 20th. Wolfe Research began coverage on Delek US in a report on Thursday, July 18th. They issued an “underperform” rating and a $19.00 target price for the company. Finally, Piper Sandler cut their price target on Delek US from $30.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Five analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.50.

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.