Delek US (NYSE:DK) Posts Earnings Results, Beats Expectations By $1.93 EPS

Delek US (NYSE:DKGet Rating) posted its quarterly earnings data on Thursday. The oil and gas company reported $4.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $1.93, Briefing.com reports. The company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $4.09 billion. Delek US had a negative net margin of 0.77% and a negative return on equity of 5.95%. The firm’s revenue was up 173.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.88) EPS.

Delek US Stock Down 0.2 %

DK traded down $0.04 during midday trading on Friday, reaching $24.25. The company’s stock had a trading volume of 1,509,884 shares, compared to its average volume of 1,437,628. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -18.10, a PEG ratio of 0.21 and a beta of 1.56. The company has a current ratio of 0.97, a quick ratio of 0.60 and a debt-to-equity ratio of 2.19. Delek US has a 1 year low of $13.48 and a 1 year high of $35.23. The stock’s 50-day moving average is $27.02 and its 200-day moving average is $23.36.

Delek US Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Monday, August 22nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Friday, August 19th.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DK. StockNews.com raised shares of Delek US from a “hold” rating to a “buy” rating in a research note on Saturday, May 21st. Wells Fargo & Company boosted their price target on shares of Delek US from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 14th. Piper Sandler boosted their price objective on shares of Delek US from $41.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, June 9th. Morgan Stanley boosted their price objective on shares of Delek US from $25.00 to $27.00 and gave the company an “underweight” rating in a research report on Friday, July 15th. Finally, Raymond James boosted their price objective on shares of Delek US from $32.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.45.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Group Holdings Inc. lifted its stake in shares of Delek US by 44.3% in the first quarter. Advisor Group Holdings Inc. now owns 1,582 shares of the oil and gas company’s stock worth $33,000 after buying an additional 486 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Delek US by 61.3% in the first quarter. Parkside Financial Bank & Trust now owns 2,086 shares of the oil and gas company’s stock worth $44,000 after buying an additional 793 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of Delek US by 28.5% in the first quarter. Great West Life Assurance Co. Can now owns 8,310 shares of the oil and gas company’s stock worth $188,000 after buying an additional 1,842 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Delek US during the first quarter valued at approximately $208,000. Finally, APG Asset Management N.V. bought a new position in Delek US during the first quarter valued at approximately $217,000. Institutional investors own 74.69% of the company’s stock.

Delek US Company Profile

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Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through three segments: Refining, Logistics, and Retail. 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.

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Earnings History for Delek US (NYSE:DK)

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