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

Delek US Holdings, Inc. (NYSE:DK) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Stockholders of record on Tuesday, November 12th will be given a dividend of 0.255 per share by the oil and gas company on Monday, November 18th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date of this dividend is Tuesday, November 12th.

Delek US has decreased its dividend payment by an average of 0.2% per year over the last three years. Delek US has a dividend payout ratio of -47.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Delek US to earn ($2.23) per share next year, which means the company may not be able to cover its $1.02 annual dividend with an expected future payout ratio of -45.7%.

Delek US Stock Performance

DK traded up $0.15 during trading hours on Friday, hitting $15.82. 65,420 shares of the stock were exchanged, compared to its average volume of 1,057,477. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -9.25 and a beta of 1.13. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.98 and a quick ratio of 0.58. Delek US has a 12 month low of $15.55 and a 12 month high of $33.60. The stock has a 50-day simple moving average of $18.88 and a 200-day simple moving average of $22.82.

Delek US (NYSE:DK) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($1.42) by $0.50. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same period last year, the company posted $1.00 earnings per share. The firm’s quarterly revenue was down 18.4% compared to the same quarter last year. Analysts anticipate that Delek US will post -4.66 earnings per share for the current year.

Analysts Set New Price Targets

DK has been the topic of a number of research reports. Piper Sandler dropped their price objective on Delek US from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. Wolfe Research began coverage on Delek US in a report on Thursday, July 18th. They set an “underperform” rating and a $19.00 target price on the stock. StockNews.com downgraded Delek US from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Wells Fargo & Company decreased their target price on Delek US from $21.00 to $18.00 and set an “underweight” rating for the company in a research report on Wednesday, October 9th. Finally, TD Cowen decreased their price target on shares of Delek US from $19.00 to $18.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.00.

Insiders Place Their Bets

In other news, CEO Avigal Soreq bought 5,651 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average cost of $20.42 per share, with a total value of $115,393.42. Following the completion of the purchase, the chief executive officer now owns 188,881 shares of the company’s stock, valued at $3,856,950.02. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.80% 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.