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

Delek US (NYSE:DK) posted its earnings results on Friday. The oil and gas company reported $7.13 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the prior year, the business earned ($1.45) earnings per share. Delek US’s revenue was down 5.1% on a year-over-year basis.

Delek US Stock Performance

Shares of NYSE DK traded up $2.26 during mid-day trading on Friday, hitting $41.47. The 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 moving average of $33.63 and a two-hundred day moving average of $25.15. Delek US has a twelve month low of $11.02 and a twelve month high of $43.50. The company has a debt-to-equity ratio of 10.48, a quick ratio of 0.50 and a current ratio of 0.80. The firm has a market cap of $2.49 billion, a PE ratio of -3.37 and a beta of 0.99.

Delek US Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 10th will be issued 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 currently -8.30%.

Insiders Place Their Bets

In related news, CFO Robert G. Wright sold 7,135 shares of Delek US 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 completion of the sale, the chief financial officer owned 48,294 shares of the company’s stock, valued at $1,412,116.56. The trade was a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DK. Merit Financial Group LLC purchased a new position in Delek US during the third quarter worth approximately $219,000. CANADA LIFE ASSURANCE Co raised its stake in shares of Delek US by 8.8% during the 2nd 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 raised its stake in shares of Delek US by 216.8% during the 2nd 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 lifted its position in shares of Delek US by 3,979.8% during the 1st quarter. Jones Financial Companies Lllp now owns 20,399 shares of the oil and gas company’s stock valued at $307,000 after buying an additional 19,899 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in Delek US in the 1st quarter valued at $390,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

DK has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on Delek US from $19.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Piper Sandler boosted 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. Cowen raised shares of Delek US from a “sell” rating to a “hold” rating in a research report on Friday, September 19th. Scotiabank raised their price target on shares of Delek US from $20.00 to $33.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Finally, Wall Street Zen raised shares of Delek US from a “sell” rating to a “hold” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $33.00.

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.