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

Delek US Holdings, Inc. (NYSE:DK) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors 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 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Thursday, May 16th. This is an increase from Delek US’s previous quarterly dividend of $0.25.

Delek US has decreased its dividend payment by an average of 0.2% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Delek US has a payout ratio of 64.5% meaning its dividend is sufficiently covered by earnings. Research 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 Up 0.7 %

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

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

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DK. Bank of America boosted 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 Friday, March 15th. StockNews.com lowered Delek US from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Citigroup initiated coverage on Delek US in a research report on Wednesday, January 24th. They issued a “neutral” rating for the company. Scotiabank boosted their target price on Delek US from $25.00 to $27.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Finally, UBS Group increased their price target on Delek US from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.56.

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.