Delek US Holdings, Inc. (NYSE:DK) to Issue Dividend Increase – $0.25 Per Share

Delek US Holdings, Inc. (NYSE:DK) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Stockholders of record on Friday, May 17th will be given a dividend of 0.25 per share by the oil and gas company on Friday, May 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Thursday, May 16th. This is a boost from Delek US’s previous quarterly dividend of $0.25.

Delek US has decreased its dividend payment by an average of 0.2% annually over the last three years and has raised its dividend every year for the last 2 years. Delek US has a dividend payout ratio of 64.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Delek US to earn $1.88 per share next year, which means the company should continue to be able to cover its $0.98 annual dividend with an expected future payout ratio of 52.1%.

Delek US Stock Performance

NYSE DK traded up $0.20 during trading hours on Friday, hitting $26.91. 733,707 shares of the stock were exchanged, compared to its average volume of 890,038. The company has a quick ratio of 0.63, a current ratio of 0.99 and a debt-to-equity ratio of 2.66. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 122.32 and a beta of 1.34. Delek US has a 12-month low of $19.39 and a 12-month high of $33.60. The stock has a 50-day moving average of $29.13 and a 200 day moving average of $27.43.

Delek US (NYSE:DK) last issued its earnings results on Tuesday, February 27th. The oil and gas company reported ($1.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.28) by ($0.18). Delek US had a return on equity of 18.27% and a net margin of 0.12%. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period last year, the company posted $0.88 earnings per share. The business’s quarterly revenue was down 9.6% on a year-over-year basis. As a group, equities research analysts forecast that Delek US will post 1.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DK. Mizuho upped their price target on shares of Delek US from $26.00 to $30.00 and gave the stock an “underperform” rating in a research note on Friday, March 22nd. Scotiabank boosted their target price on Delek US from $25.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. UBS Group raised their price objective on shares of Delek US from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. TD Cowen upped their price objective on Delek US from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Finally, Citigroup began coverage on shares of Delek US in a research note on Wednesday, January 24th. They issued a “neutral” rating for the company. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Delek US has a consensus rating of “Hold” and an average price target of $28.56.

Insider Buying and Selling

In related news, CFO Robert G. Wright sold 2,123 shares of Delek US stock in a transaction on Monday, February 12th. The stock was sold at an average price of $28.50, for a total value of $60,505.50. Following the transaction, the chief financial officer now owns 18,925 shares in the company, valued at $539,362.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 4,976 shares of company stock valued at $141,243. Insiders own 1.80% of the company’s stock.

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.