Delek US (DK) Trading 6.4% Higher Following Earnings Beat

Shares of Delek US Holdings Inc (NYSE:DK) traded up 6.4% during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $37.43 and last traded at $37.09. 3,369,083 shares traded hands during mid-day trading, an increase of 118% from the average session volume of 1,543,337 shares. The stock had previously closed at $34.86.

The oil and gas company reported $1.59 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.32. Delek US had a return on equity of 23.17% and a net margin of 3.52%. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $3.03 billion.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Monday, March 4th. This is a boost from Delek US’s previous quarterly dividend of $0.26. Delek US’s dividend payout ratio (DPR) is 21.67%.

Several brokerages recently issued reports on DK. Mizuho reaffirmed a “buy” rating and set a $60.00 target price on shares of Delek US in a research report on Thursday. Barclays reaffirmed a “buy” rating and set a $51.00 target price on shares of Delek US in a research report on Thursday. ValuEngine raised Delek US from a “sell” rating to a “hold” rating in a research report on Monday, November 26th. Tudor Pickering cut Delek US from a “buy” rating to a “hold” rating in a research report on Friday, November 30th. Finally, Morgan Stanley cut their target price on Delek US from $62.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Delek US has a consensus rating of “Hold” and an average target price of $51.16.

In related news, EVP Avigal Soreq sold 1,500 shares of Delek US stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $40.21, for a total transaction of $60,315.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of DK. FMR LLC raised its stake in shares of Delek US by 47.3% during the 2nd quarter. FMR LLC now owns 9,933,478 shares of the oil and gas company’s stock valued at $498,363,000 after purchasing an additional 3,190,607 shares during the period. First Hawaiian Bank bought a new stake in shares of Delek US during the 3rd quarter valued at $529,000. Fisher Asset Management LLC raised its stake in shares of Delek US by 10.5% during the 3rd quarter. Fisher Asset Management LLC now owns 826,273 shares of the oil and gas company’s stock valued at $35,059,000 after purchasing an additional 78,576 shares during the period. First Trust Advisors LP raised its stake in shares of Delek US by 7.2% during the 3rd quarter. First Trust Advisors LP now owns 129,281 shares of the oil and gas company’s stock valued at $5,485,000 after purchasing an additional 8,699 shares during the period. Finally, ARP Americas LP bought a new stake in shares of Delek US during the 3rd quarter valued at $395,000.

The company has a debt-to-equity ratio of 0.96, a current ratio of 1.43 and a quick ratio of 0.97. The company has a market cap of $3.04 billion, a PE ratio of 7.54, a price-to-earnings-growth ratio of 0.75 and a beta of 1.22.

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About Delek US (NYSE:DK)

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company's Refining segment processes crude oil and other purchased feedstocks 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 terminals.

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