Delek US (NYSE:DK) Announces Earnings Results

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

Delek US Trading Up 5.8%

Shares of NYSE DK opened at $41.47 on Friday. The business has a 50 day simple moving average of $33.63 and a 200 day simple moving average of $25.23. Delek US has a 52 week low of $11.02 and a 52 week high of $43.50. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of -5.08 and a beta of 0.99. The company has a debt-to-equity ratio of 10.48, a quick ratio of 0.50 and a current ratio of 0.80.

Delek US Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 dividend yield of 2.5%. The ex-dividend date is Monday, November 10th. Delek US’s payout ratio is currently -8.30%.

Insider Transactions at Delek US

In other Delek US news, CFO Robert G. Wright sold 7,135 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 48,294 shares of the company’s stock, valued at $1,412,116.56. The trade was a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Delek US

Several hedge funds have recently bought and sold shares of the business. Merit Financial Group LLC acquired a new position in shares of Delek US during the 3rd quarter valued at about $219,000. CANADA LIFE ASSURANCE Co boosted its position in Delek US by 8.8% during the second quarter. CANADA LIFE ASSURANCE Co now owns 11,782 shares of the oil and gas company’s stock worth $250,000 after purchasing an additional 955 shares during the period. Tower Research Capital LLC TRC grew its holdings in Delek US by 216.8% during the second quarter. Tower Research Capital LLC TRC now owns 13,561 shares of the oil and gas company’s stock valued at $287,000 after purchasing an additional 9,280 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Delek US by 3,979.8% in the first quarter. Jones Financial Companies Lllp now owns 20,399 shares of the oil and gas company’s stock valued at $307,000 after purchasing an additional 19,899 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Delek US in the second quarter worth $432,000. 97.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DK has been the subject of a number of recent analyst reports. Citigroup reaffirmed a “neutral” rating and issued a $30.00 price objective (up previously from $15.00) on shares of Delek US in a research note on Wednesday, July 16th. Scotiabank lifted their price target on Delek US from $20.00 to $33.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Wolfe Research raised Delek US from a “peer perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Wednesday, September 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Delek US in a research report on Wednesday, October 8th. Finally, Cowen upgraded Delek US from a “sell” rating to a “hold” rating in a report on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.