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

Delek US Holdings, Inc. (NYSE:DK) traded down 4.5% during 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. 459,869 shares changed hands during mid-day trading, a decline of 61% from the average session 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 the consensus estimate of ($1.53) by ($1.01). The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.58 billion. Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. Delek US’s revenue was down 39.8% compared to the same quarter last year. During the same period last year, the business earned ($1.46) EPS.

Delek US Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 6.74%. Delek US’s payout ratio is presently -11.54%.

Analysts Set New Price Targets

DK has been the subject of a number of recent analyst reports. Mizuho decreased their price target on Delek US from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Wells Fargo & Company dropped their price target on Delek US from $17.00 to $15.00 and set an “underweight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on Delek US from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Wolfe Research upgraded Delek US from an “underperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. 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, the stock has an average rating of “Hold” and an average target price of $20.90.

Institutional Investors Weigh In On Delek US

Institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC boosted its stake in shares of Delek US by 728.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,491 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 1,311 shares in the last quarter. KBC Group NV boosted its stake in shares of 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 in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Delek US by 24.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 7,733 shares of the oil and gas company’s stock worth $145,000 after acquiring an additional 1,508 shares in the last quarter. ARS Investment Partners LLC purchased a new stake in shares of Delek US during the 4th quarter worth approximately $185,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Delek US during the 3rd quarter worth approximately $193,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Delek US Trading Down 7.7 %

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 business has a 50 day moving average of $18.16 and a 200-day moving average of $18.59. The stock has a market cap of $956.77 million, a PE ratio of -3.12 and a beta of 1.20.

About Delek US

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.