Delek US Holdings, Inc. (NYSE:DK) to Issue Quarterly Dividend of $0.25

Delek US Holdings, Inc. (NYSE:DK) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Shareholders of record on Friday, May 17th will be given a dividend of 0.25 per share by the oil and gas company on Friday, May 24th. This represents a $1.00 dividend on an annualized basis and a yield of 3.72%. 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 has decreased its dividend by an average of 0.2% annually over the last three years and has increased its dividend every year for the last 2 years. Delek US has a payout ratio of 64.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Delek US to earn $1.88 per share next year, which means the company should continue to be able to cover its $0.98 annual dividend with an expected future payout ratio of 52.1%.

Delek US Stock Up 0.7 %

DK stock traded up $0.20 during mid-day trading on Friday, reaching $26.91. The company had a trading volume of 733,707 shares, compared to its average volume of 890,038. Delek US has a fifty-two week low of $19.39 and a fifty-two week high of $33.60. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 122.32 and a beta of 1.34. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.63 and a current ratio of 0.99. The firm has a fifty day simple moving average of $29.13 and a 200 day simple moving average of $27.43.

Delek US (NYSE:DK) last issued its quarterly earnings results on Tuesday, February 27th. The oil and gas company reported ($1.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.28) by ($0.18). The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Delek US had a return on equity of 18.27% and a net margin of 0.12%. The firm’s revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 EPS. Analysts forecast that Delek US will post 1.38 earnings per share for the current fiscal year.

Insider Activity

In other 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 transaction, 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 filing with the SEC, which is accessible through the SEC website. Insiders sold 4,976 shares of company stock valued at $141,243 in the last three months. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Scotiabank lifted their price target on Delek US from $25.00 to $27.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Bank of America raised their price target on Delek US from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Wells Fargo & Company lifted their target price on shares of Delek US from $21.00 to $26.00 and gave the company an “underweight” rating in a report on Wednesday, March 20th. StockNews.com downgraded shares of Delek US from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, Citigroup started coverage on Delek US in a research 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 issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Delek US currently has an average rating of “Hold” and a consensus target price of $28.56.

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.