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

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

Delek US has decreased its dividend by an average of 0.2% annually over the last three years. Delek US has a 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. 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 Price Performance

Shares of DK stock traded down $0.04 during midday trading on Friday, reaching $15.63. 34,193 shares of the company were exchanged, compared to its average volume of 1,057,393. The company’s 50 day moving average price is $18.88 and its two-hundred day moving average price is $22.82. The company has a market cap of $1.01 billion, a P/E ratio of -9.27 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 quick ratio of 0.58 and a current ratio of 0.98.

Delek US (NYSE:DK) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.92) EPS for the quarter, topping the consensus estimate of ($1.42) by $0.50. The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Delek US had a negative return on equity of 4.53% and a negative net margin of 0.69%. The firm’s quarterly revenue was down 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 earnings per share. On average, sell-side analysts expect that Delek US will post -4.66 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on DK shares. Mizuho raised Delek US from an “underperform” rating to a “neutral” rating and decreased their target price for the company from $28.00 to $26.00 in a research note on Monday, September 16th. Morgan Stanley reduced their price objective on shares of Delek US from $24.00 to $22.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. Scotiabank dropped their target price on shares of Delek US from $25.00 to $22.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Wolfe Research initiated coverage on shares of Delek US in a report on Thursday, July 18th. They set an “underperform” rating and a $19.00 target price for the company. Finally, StockNews.com cut Delek US from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. Six research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Delek US has a consensus rating of “Hold” and an average price target of $22.00.

Insider Buying and Selling at Delek US

In related news, CEO Avigal Soreq acquired 5,651 shares of the company’s stock in a transaction 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 purchase, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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.