Delek US (NYSE:DK) Trading Down 4.5% After Earnings Miss

Delek US Holdings, Inc. (NYSE:DK)’s share price was down 4.5% during trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $15.52 and last traded at $15.67. Approximately 459,869 shares were traded 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 for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the company posted ($1.46) earnings per share. The firm’s revenue was down 39.8% compared to the same quarter last year.

Delek US Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on DK shares. Mizuho lowered their price objective on Delek US from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. JPMorgan Chase & Co. raised their price objective on shares of Delek US from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Wolfe Research raised shares of Delek US from an “underperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company cut their price target on shares of Delek US from $17.00 to $15.00 and set an “underweight” rating for the company in a research note on Wednesday. Five research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.90.

Hedge Funds Weigh In On Delek US

Institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC increased its stake in shares of Delek US by 728.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,491 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 1,311 shares in the last quarter. KBC Group NV grew its holdings in Delek US by 66.3% during the 4th quarter. KBC Group NV now owns 3,859 shares of the oil and gas company’s stock worth $71,000 after acquiring an additional 1,538 shares during the last quarter. Farther Finance Advisors LLC increased its position in Delek US by 24.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 7,733 shares of the oil and gas company’s stock valued at $145,000 after acquiring an additional 1,508 shares in the last quarter. ARS Investment Partners LLC bought a new position in shares of Delek US in the fourth quarter worth about $185,000. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Delek US during the third quarter valued at approximately $193,000. Institutional investors own 97.01% of the company’s stock.

Delek US Trading Down 5.3 %

The company has a quick ratio of 0.67, a current ratio of 1.04 and a debt-to-equity ratio of 3.18. The business’s fifty day moving average is $18.19 and its two-hundred day moving average is $18.62. The firm has a market cap of $981.10 million, a price-to-earnings ratio of -3.21 and a beta of 1.20.

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.