Delek US (NYSE:DK) Releases Earnings Results, Beats Expectations By $6.85 EPS

Delek US (NYSE:DK) announced its quarterly earnings results on Friday. The oil and gas company reported $7.13 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the previous year, the company earned ($1.45) earnings per share. Delek US’s quarterly revenue was down 5.1% on a year-over-year basis.

Delek US Stock Up 5.8%

Shares of Delek US stock traded up $2.26 during trading on Friday, reaching $41.47. The company’s stock had a trading volume of 3,974,566 shares, compared to its average volume of 1,293,048. The company has a 50-day simple moving average of $33.63 and a two-hundred day simple moving average of $25.15. Delek US has a 1-year low of $11.02 and a 1-year high of $43.50. The company has a market cap of $2.49 billion, a price-to-earnings ratio of -3.37 and a beta of 0.99. The company has a quick ratio of 0.50, a current ratio of 0.80 and a debt-to-equity ratio of 10.48.

Delek US Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, November 10th will be given a $0.255 dividend. The ex-dividend date of this dividend 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 presently -8.30%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Delek US in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on Delek US from $19.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Raymond James Financial lifted their price target on Delek US from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Morgan Stanley set a $34.00 price objective on Delek US and gave the stock an “equal weight” rating in a report on Friday, October 3rd. Finally, The Goldman Sachs Group raised their price objective on Delek US from $28.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Delek US presently has an average rating of “Hold” and an average target price of $33.00.

Insider Buying and Selling at Delek US

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

Hedge Funds Weigh In On Delek US

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its stake in Delek US by 18.4% during the 1st quarter. Royal Bank of Canada now owns 278,774 shares of the oil and gas company’s stock valued at $4,201,000 after acquiring an additional 43,379 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Delek US in the first quarter worth $390,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Delek US by 3.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,190 shares of the oil and gas company’s stock worth $560,000 after purchasing an additional 1,102 shares during the last quarter. Jones Financial Companies Lllp lifted its position in 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 purchasing an additional 19,899 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Delek US by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,871 shares of the oil and gas company’s stock valued at $2,213,000 after purchasing an additional 9,827 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.