Delek US Holdings Inc (NYSE:DK) declared a quarterly dividend on Wednesday, August 8th, Wall Street Journal reports. Stockholders of record on Tuesday, August 21st will be paid a dividend of 0.25 per share by the oil and gas company on Tuesday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Monday, August 20th.
Delek US has a dividend payout ratio of 21.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Delek US to earn $8.97 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 11.1%.
NYSE DK traded up $1.46 during mid-day trading on Wednesday, hitting $53.32. The stock had a trading volume of 4,078,998 shares, compared to its average volume of 1,705,713. Delek US has a 52-week low of $20.65 and a 52-week high of $61.57. The company has a market capitalization of $4.23 billion, a P/E ratio of 42.61, a PEG ratio of 1.06 and a beta of 1.42. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.34 and a quick ratio of 0.89.
Delek US (NYSE:DK) last released its quarterly earnings data on Monday, May 7th. The oil and gas company reported $0.33 earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.44. Delek US had a return on equity of 6.51% and a net margin of 2.89%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.10 billion. research analysts expect that Delek US will post 4.76 earnings per share for the current fiscal year.
Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. raised Delek US from a “neutral” rating to an “overweight” rating and set a $44.00 price objective for the company in a research note on Monday, May 14th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Delek US in a research note on Friday, April 13th. Credit Suisse Group raised their price objective on Delek US from $54.00 to $67.00 and gave the company an “outperform” rating in a research note on Monday, June 4th. Bank of America set a $50.00 price objective on Delek US and gave the company a “hold” rating in a research note on Tuesday, May 8th. Finally, Morgan Stanley raised their price target on Delek US from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, July 16th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $49.57.
In other news, insider Jared Serff sold 1,787 shares of the firm’s stock in a transaction on Thursday, July 5th. The stock was sold at an average price of $50.30, for a total transaction of $89,886.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kevin L. Kremke sold 2,650 shares of the firm’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $55.79, for a total value of $147,843.50. The disclosure for this sale can be found here. Insiders have sold 227,636 shares of company stock valued at $12,184,183 in the last three months. 1.40% of the stock is currently owned by company insiders.
About Delek US
Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company's Refining segment processes crude oil and other purchased feedstocks 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 terminals.
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