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 Dividends reports. Investors 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 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date of this dividend is Tuesday, November 12th.

Delek US has decreased its dividend by an average of 0.2% per year over the last three years. Delek US has a dividend payout ratio of -46.8% 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 Stock Performance

Shares of DK opened at $18.04 on Friday. Delek US has a 52-week low of $15.36 and a 52-week high of $33.60. The firm has a market capitalization of $1.16 billion, a PE ratio of -3.71 and a beta of 1.15. The firm has a 50-day moving average price of $18.46 and a 200 day moving average price of $22.26. The company has a quick ratio of 0.58, a current ratio of 0.98 and a debt-to-equity ratio of 2.50.

Delek US (NYSE:DK) last posted its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($1.45) EPS for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.26. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.23 billion. Delek US had a negative net margin of 2.27% and a negative return on equity of 27.37%. The business’s revenue for the quarter was down 34.3% on a year-over-year basis. During the same quarter last year, the business earned $2.02 earnings per share. On average, sell-side analysts anticipate that Delek US will post -4.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DK. Wolfe Research assumed coverage on shares of Delek US in a research note on Thursday, July 18th. They issued an “underperform” rating and a $19.00 price objective on the stock. Mizuho upgraded shares of Delek US from an “underperform” rating to a “neutral” rating and decreased their price target for the stock from $28.00 to $26.00 in a research report on Monday, September 16th. Bank of America began coverage on Delek US in a research report on Thursday, October 17th. They set an “underperform” rating and a $15.00 price objective for the company. Scotiabank decreased their target price on Delek US from $25.00 to $22.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Finally, Piper Sandler decreased their price target on Delek US from $25.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, September 20th. Six 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, the company has an average rating of “Hold” and an average price target of $21.00.

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.