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

Delek US Holdings, Inc. (NYSE:DK) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Stockholders 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 dividend yield of 6.53%. The ex-dividend date is Tuesday, November 12th.

Delek US has decreased its dividend payment by an average of 0.2% per year over the last three years. Delek US has a dividend 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. 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 Down 0.3 %

Shares of NYSE:DK traded down $0.04 during mid-day trading on Friday, hitting $15.63. 34,193 shares of the company traded hands, compared to its average volume of 1,057,393. The firm’s 50 day simple moving average is $18.88 and its 200 day simple moving average is $22.82. The firm has a market cap of $1.01 billion, a P/E ratio of -9.27 and a beta of 1.13. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.58 and a current ratio of 0.98. Delek US has a 52-week low of $15.55 and a 52-week high of $33.60.

Delek US (NYSE:DK) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.50. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.31 billion. Delek US had a negative net margin of 0.69% and a negative return on equity of 4.53%. The business’s quarterly 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 analysts anticipate that Delek US will post -4.66 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DK. Wells Fargo & Company decreased their price objective on shares of Delek US from $21.00 to $18.00 and set an “underweight” rating for the company in a research report on Wednesday, October 9th. TD Cowen reduced their price target on Delek US from $19.00 to $18.00 and set a “sell” rating for the company in a report on Thursday, August 8th. Scotiabank lowered their price objective on Delek US from $25.00 to $22.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Piper Sandler cut their target price on Delek US from $25.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, September 20th. Finally, Bank of America began coverage on shares of Delek US in a research report on Thursday, October 17th. They set an “underperform” rating and a $15.00 price target for the company. Six analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Delek US currently has an average rating of “Hold” and an average price target of $22.00.

Insider Buying and Selling at Delek US

In other Delek US news, CEO Avigal Soreq acquired 5,651 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price 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. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 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.