Delek US (NYSE:DK) Announces Earnings Results, Beats Estimates By $6.85 EPS

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

Delek US Trading Up 5.8%

Shares of DK stock traded up $2.26 during trading on Friday, hitting $41.47. 3,974,566 shares of the stock traded hands, compared to its average volume of 1,293,048. Delek US has a 52-week low of $11.02 and a 52-week high of $43.50. The firm has a market capitalization of $2.49 billion, a P/E ratio of -3.37 and a beta of 0.99. The firm’s fifty day moving average price is $33.63 and its 200-day moving average price is $25.15. The company has a debt-to-equity ratio of 10.48, a current ratio of 0.80 and a quick ratio of 0.50.

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. The ex-dividend date is Monday, November 10th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.5%. Delek US’s dividend payout ratio (DPR) is currently -8.30%.

Insiders Place Their Bets

In other Delek US news, CFO Robert G. Wright sold 7,135 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $29.24, for a total transaction of $208,627.40. Following the completion of the sale, the chief financial officer owned 48,294 shares of the company’s stock, valued at $1,412,116.56. This trade represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

Institutional Trading of Delek US

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Merit Financial Group LLC purchased a new stake in Delek US in the 3rd quarter valued at about $219,000. CANADA LIFE ASSURANCE Co boosted its stake 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 buying an additional 955 shares during the period. Tower Research Capital LLC TRC boosted its stake 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 worth $287,000 after buying an additional 9,280 shares during the period. Jones Financial Companies Lllp increased its position in shares of Delek US by 3,979.8% during 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 acquiring an additional 19,899 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of Delek US in the 1st quarter valued at approximately $390,000. 97.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on DK. Wall Street Zen upgraded Delek US from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. Piper Sandler upped their target price on shares of Delek US from $29.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, September 11th. JPMorgan Chase & Co. increased their target price on shares of Delek US from $19.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Bank of America raised their price target on shares of Delek US from $14.00 to $24.00 and gave the stock an “underperform” rating in a research note on Wednesday, September 3rd. Finally, Wolfe Research raised shares of Delek US from a “peer perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $33.00.

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.