Delek US Holdings Inc (NYSE:DK) Plans Dividend Increase – $0.29 Per Share

Delek US Holdings Inc (NYSE:DK) declared a quarterly dividend on Monday, July 29th, NASDAQ reports. Shareholders of record on Monday, August 19th will be given a dividend of 0.29 per share by the oil and gas company on Tuesday, September 3rd. This represents a $1.16 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Friday, August 16th. This is a positive change from Delek US’s previous quarterly dividend of $0.28.

Delek US has increased its dividend by an average of 17.0% annually over the last three years. Delek US has a payout ratio of 23.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Delek US to earn $3.87 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 30.0%.

DK stock opened at $32.98 on Wednesday. The firm has a market cap of $2.53 billion, a P/E ratio of 6.87 and a beta of 1.65. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.48 and a quick ratio of 1.00. Delek US has a 52-week low of $29.51 and a 52-week high of $56.36. The company’s 50-day moving average is $39.35.

Delek US (NYSE:DK) last released its quarterly earnings results on Monday, August 5th. The oil and gas company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.40. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.32 billion. Delek US had a return on equity of 27.65% and a net margin of 5.51%. The company’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 EPS. Equities research analysts expect that Delek US will post 4.02 earnings per share for the current year.

DK has been the subject of a number of analyst reports. ValuEngine upgraded Delek US from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Goldman Sachs Group downgraded Delek US from a “neutral” rating to a “sell” rating and set a $37.00 price target for the company. in a research note on Tuesday, June 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Delek US has a consensus rating of “Hold” and an average target price of $46.62.

In other news, EVP Avigal Soreq sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $41.30, for a total value of $165,200.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Frederec Green sold 11,526 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $40.76, for a total value of $469,799.76. The disclosure for this sale can be found here. Insiders sold a total of 23,554 shares of company stock worth $974,576 in the last 90 days. Company insiders own 1.20% 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'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.

See Also: Fundamental Analysis

Dividend History for Delek US (NYSE:DK)

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