Delek US (NYSE:DK) Trading Down 4.5% on Disappointing Earnings

Shares of Delek US Holdings, Inc. (NYSE:DK) dropped 4.5% during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $15.52 and last traded at $15.67. Approximately 459,869 shares changed hands during trading, a decline of 61% from the average daily volume of 1,187,593 shares. The stock had previously closed at $16.40.

The oil and gas company reported ($2.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.53) by ($1.01). Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the company posted ($1.46) earnings per share. The business’s revenue for the quarter was down 39.8% on a year-over-year basis.

Delek US Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, March 3rd will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 6.57%. The ex-dividend date of this dividend is Monday, March 3rd. Delek US’s dividend payout ratio (DPR) is currently -20.99%.

Analysts Set New Price Targets

DK has been the subject of a number of recent analyst reports. Wolfe Research upgraded Delek US from an “underperform” rating to a “peer perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. upped their price target on Delek US from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Wells Fargo & Company reduced their price objective on shares of Delek US from $17.00 to $15.00 and set an “underweight” rating on the stock in a research note on Wednesday. Finally, Mizuho cut their target price on shares of Delek US from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Five analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, Delek US presently has a consensus rating of “Hold” and a consensus price target of $20.90.

Institutional Investors Weigh In On Delek US

Institutional investors have recently bought and sold shares of the company. Rafferty Asset Management LLC lifted its position in shares of Delek US by 0.7% in the fourth quarter. Rafferty Asset Management LLC now owns 114,701 shares of the oil and gas company’s stock worth $2,122,000 after purchasing an additional 797 shares in the last quarter. F M Investments LLC grew its holdings in Delek US by 0.5% during the third quarter. F M Investments LLC now owns 174,652 shares of the oil and gas company’s stock worth $3,275,000 after purchasing an additional 807 shares during the period. Sei Investments Co. increased its position in Delek US by 2.3% during the fourth quarter. Sei Investments Co. now owns 52,595 shares of the oil and gas company’s stock worth $973,000 after buying an additional 1,192 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Delek US by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,088 shares of the oil and gas company’s stock valued at $668,000 after buying an additional 1,227 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its position in shares of Delek US by 7.6% in the third quarter. Orion Portfolio Solutions LLC now owns 18,254 shares of the oil and gas company’s stock valued at $342,000 after buying an additional 1,292 shares during the last quarter. Institutional investors own 97.01% of the company’s stock.

Delek US Price Performance

The company has a current ratio of 1.04, a quick ratio of 0.67 and a debt-to-equity ratio of 3.18. The company has a market capitalization of $981.10 million, a P/E ratio of -3.21 and a beta of 1.20. The company has a 50 day moving average price of $18.19 and a 200 day moving average price of $18.62.

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.