Delek US Holdings Inc (NYSE:DK) declared a quarterly dividend on Monday, July 29th, NASDAQ reports. Shareholders of record on Monday, August 19th will be paid a dividend of 0.29 per share by the oil and gas company on Tuesday, September 3rd. This represents a $1.16 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Friday, August 16th. This is a boost from Delek US’s previous quarterly dividend of $0.28.
Delek US has increased its dividend by an average of 17.0% annually over the last three years. Delek US has a dividend payout ratio of 23.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Delek US to earn $3.87 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 30.0%.
Shares of DK stock traded down $1.57 during mid-day trading on Wednesday, hitting $31.41. The company had a trading volume of 4,896 shares, compared to its average volume of 1,347,532. Delek US has a 52-week low of $29.51 and a 52-week high of $56.36. The company has a 50 day simple moving average of $39.35. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.48 and a quick ratio of 1.00. The stock has a market capitalization of $2.53 billion, a P/E ratio of 6.60 and a beta of 1.65.
In related news, COO Frederec Green sold 6,828 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $42.00, for a total transaction of $286,776.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Louis Labella sold 1,200 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $44.00, for a total transaction of $52,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,554 shares of company stock worth $974,576. 1.20% of the stock is owned by insiders.
Several equities analysts have recently commented on the stock. Goldman Sachs Group downgraded shares of Delek US from a “neutral” rating to a “sell” rating and set a $37.00 target price on the stock. in a report on Tuesday, June 25th. ValuEngine raised shares of Delek US from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $46.62.
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.
Read More: Trading Ex-Dividend Strategy
Receive News & Ratings for Delek US Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delek US and related companies with MarketBeat.com's FREE daily email newsletter.