Delek US Holdings, Inc. Plans Quarterly Dividend of $0.26 (NYSE:DK)

Delek US Holdings, Inc. (NYSE:DK) announced a quarterly dividend on Monday, April 20th. Shareholders of record on Friday, May 1st will be given a dividend of 0.255 per share by the oil and gas company on Friday, May 8th. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, May 1st.

Delek US has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 2 years. Delek US has a dividend payout ratio of -48.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Delek US to earn $1.11 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 91.9%.

Delek US Price Performance

Shares of DK opened at $37.98 on Tuesday. Delek US has a twelve month low of $12.29 and a twelve month high of $48.32. The firm’s fifty day simple moving average is $40.52 and its 200-day simple moving average is $36.26. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -108.52, a PEG ratio of 0.81 and a beta of 0.68. The company has a current ratio of 0.82, a quick ratio of 0.53 and a debt-to-equity ratio of 5.89.

Delek US (NYSE:DK) last issued its earnings results on Friday, February 27th. The oil and gas company reported $0.44 earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.63. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.55 billion. Delek US had a negative return on equity of 13.55% and a negative net margin of 0.21%.The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned ($2.54) EPS. Equities analysts forecast that Delek US will post 1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on DK shares. Citigroup boosted their target price on Delek US from $33.00 to $44.00 and gave the company a “neutral” rating in a report on Monday, April 13th. TD Cowen upped their price objective on Delek US from $28.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, March 5th. Wall Street Zen upgraded shares of Delek US from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. JPMorgan Chase & Co. lowered their target price on Delek US from $42.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, January 15th. Finally, Mizuho increased their price target on shares of Delek US from $51.00 to $54.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Five analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Delek US currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Delek US Company Profile

Delek US Holdings, Inc (NYSE: DK) is an independent downstream energy company engaged in the refining, logistics, and marketing of petroleum products. Headquartered in Brentwood, Tennessee, the company operates a network of inland refineries, storage terminals and pipelines, and convenience store locations. Delek US focuses on converting crude oil into a variety of finished products, including gasoline, diesel, jet fuel, asphalt and renewable fuels, serving wholesale and retail customers across the United States.

In its refining segment, Delek US owns and operates four inland refineries located in Texas and Arkansas.