Delek US Holdings, Inc. (NYSE:DK) Plans $0.26 Quarterly Dividend

Delek US Holdings, Inc. (NYSE:DK) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders 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 dividend on an annualized basis and a yield of 6.47%. 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 dividend payout ratio of -47.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Stock Up 0.6 %

Shares of DK traded up $0.09 during mid-day trading on Friday, reaching $15.76. The company’s stock had a trading volume of 72,737 shares, compared to its average volume of 1,057,575. The company’s 50 day moving average is $18.88 and its 200 day moving average is $22.82. The stock has a market cap of $1.02 billion, a PE ratio of -9.25 and a beta of 1.13. Delek US has a 12-month low of $15.55 and a 12-month high of $33.60. The company has a debt-to-equity ratio of 2.50, a current ratio of 0.98 and a quick ratio of 0.58.

Delek US (NYSE:DK) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.50. The business had revenue of $3.42 billion during 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%. The company’s revenue was down 18.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.00 EPS. Equities analysts anticipate that Delek US will post -4.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on DK shares. Wolfe Research started coverage on Delek US in a report on Thursday, July 18th. They set an “underperform” rating and a $19.00 price objective on the stock. StockNews.com downgraded Delek US from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Morgan Stanley reduced their price objective on Delek US from $24.00 to $22.00 and set an “underweight” rating for the company in a research note on Monday, September 16th. Mizuho upgraded shares of Delek US from an “underperform” rating to a “neutral” rating and lowered their target price for the stock from $28.00 to $26.00 in a research report on Monday, September 16th. Finally, Wells Fargo & Company cut their target price on shares of Delek US from $21.00 to $18.00 and set an “underweight” rating on the stock in a report on Wednesday, October 9th. Six investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Delek US has an average rating of “Hold” and an average target price of $22.00.

Insider Activity at Delek US

In other Delek US news, CEO Avigal Soreq purchased 5,651 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $20.42 per share, for a total transaction of $115,393.42. Following the completion of the purchase, the chief executive officer now directly owns 188,881 shares in the company, valued at $3,856,950.02. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by insiders.

About Delek US

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.