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

Delek US Holdings, Inc. (NYSE:DK - Get Free Report) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Investors of record on Tuesday, November 12th will be paid a dividend of 0.255 per share by the oil and gas company on Monday, November 18th. This represents a $1.02 annualized dividend and a yield of 6.62%. The ex-dividend date of this dividend is Tuesday, November 12th.

Delek US has decreased its dividend by an average of 0.2% per year over the last three years. Delek US has a 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 Trading Down 1.7 %

Shares of NYSE DK traded down $0.27 on Friday, reaching $15.40. 1,073,018 shares of the company traded hands, compared to its average volume of 1,062,293. The stock has a market capitalization of $993.92 million, a PE ratio of -9.11 and a beta of 1.13. Delek US has a fifty-two week low of $15.36 and a fifty-two week high of $33.60. The company has a current ratio of 0.98, a quick ratio of 0.58 and a debt-to-equity ratio of 2.50. The company has a 50 day moving average of $18.78 and a 200 day moving average of $22.71.

Delek US (NYSE:DK - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share for the quarter, topping analysts' consensus estimates of ($1.42) by $0.50. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.31 billion. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. Delek US's revenue was down 18.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 earnings per share. On average, equities research analysts forecast that Delek US will post -4.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. TD Cowen cut their price objective on Delek US from $19.00 to $18.00 and set a "sell" rating on the stock in a report on Thursday, August 8th. Wolfe Research began coverage on shares of Delek US in a research report on Thursday, July 18th. They issued an "underperform" rating and a $19.00 price objective for the company. Piper Sandler decreased their price target on shares of Delek US from $25.00 to $19.00 and set a "neutral" rating for the company in a research report on Friday, September 20th. Bank of America started coverage on Delek US in a research note on Thursday, October 17th. They set an "underperform" rating and a $15.00 price objective on the stock. Finally, Scotiabank dropped their target price on Delek US from $25.00 to $22.00 and set a "sector perform" rating on the stock in a report on Thursday, October 10th. Six equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $22.00.

Insider Activity

In other news, CEO Avigal Soreq bought 5,651 shares of Delek US stock in a transaction on Friday, August 9th. The shares were bought at an average price of $20.42 per share, with a total value of $115,393.42. Following the acquisition, the chief executive officer now directly owns 188,881 shares in the company, valued at approximately $3,856,950.02. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company's stock.

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.