Delek US Holdings, Inc. (NYSE:DK) to Issue Dividend Increase – $0.25 Per Share

Delek US Holdings, Inc. (NYSE:DK) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Stockholders 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 dividend 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 annually for the last 2 consecutive years. Delek US has a dividend payout ratio of 64.5% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 0.7 %

Delek US stock traded up $0.20 during trading hours on Friday, reaching $26.91. The company had a trading volume of 733,707 shares, compared to its average volume of 890,038. The company has a debt-to-equity ratio of 2.66, a current ratio of 0.99 and a quick ratio of 0.63. Delek US has a 12-month low of $19.39 and a 12-month high of $33.60. The company has a 50-day moving average price of $29.13 and a 200 day moving average price of $27.43. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 122.32 and a beta of 1.34.

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

Insider Buying and Selling at Delek US

In other Delek US news, CFO Robert G. Wright sold 2,123 shares of Delek US stock in a transaction on Monday, February 12th. The stock was sold at an average price of $28.50, for a total transaction of $60,505.50. Following the completion of the transaction, the chief financial officer now owns 18,925 shares in the company, valued at $539,362.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 4,976 shares of company stock valued at $141,243. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on DK. TD Cowen upped their price target on Delek US from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Wells Fargo & Company raised their price target on Delek US from $21.00 to $26.00 and gave the stock an “underweight” rating in a research note on Wednesday, March 20th. Scotiabank boosted their price objective on shares of Delek US from $25.00 to $27.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Mizuho raised their target price on shares of Delek US from $26.00 to $30.00 and gave the stock an “underperform” rating in a research report on Friday, March 22nd. Finally, UBS Group boosted their price target on shares of Delek US from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus 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.