FY2024 EPS Estimates for Delek US Holdings, Inc. (NYSE:DK) Lowered by Zacks Research

Delek US Holdings, Inc. (NYSE:DK) – Research analysts at Zacks Research lowered their FY2024 EPS estimates for Delek US in a research report issued to clients and investors on Thursday, June 20th. Zacks Research analyst R. Department now forecasts that the oil and gas company will post earnings per share of $0.80 for the year, down from their previous estimate of $0.81. The consensus estimate for Delek US’s current full-year earnings is $0.88 per share.

A number of other equities analysts have also weighed in on the stock. Scotiabank upped their target price on shares of Delek US from $25.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Bank of America increased their price objective on Delek US from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. TD Cowen cut Delek US from a “hold” rating to a “sell” rating and cut their target price for the company from $25.00 to $20.00 in a research note on Monday, June 10th. JPMorgan Chase & Co. decreased their price target on shares of Delek US from $26.00 to $25.00 and set an “underweight” rating for the company in a research note on Tuesday, May 21st. Finally, Piper Sandler cut their price objective on shares of Delek US from $30.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, June 14th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.00.

Delek US Stock Performance

Shares of DK opened at $24.43 on Monday. Delek US has a twelve month low of $21.68 and a twelve month high of $33.60. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.64 and a current ratio of 1.04. The firm’s 50 day moving average price is $26.88 and its two-hundred day moving average price is $27.31. The firm has a market cap of $1.57 billion, a P/E ratio of -19.70 and a beta of 1.28.

Delek US (NYSE:DK) last posted its earnings results on Tuesday, May 7th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.15. Delek US had a positive return on equity of 7.37% and a negative net margin of 0.48%. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the previous year, the firm earned $1.37 earnings per share. The company’s revenue was down 17.8% on a year-over-year basis.

Delek US Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 17th were paid a dividend of $0.25 per share. This is an increase from Delek US’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.00 annualized dividend and a yield of 4.09%. Delek US’s payout ratio is presently -80.65%.

Insider Activity at Delek US

In other Delek US news, Director Richard J. Marcogliese acquired 2,750 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was acquired at an average price of $23.99 per share, for a total transaction of $65,972.50. Following the acquisition, the director now directly owns 42,863 shares in the company, valued at $1,028,283.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 2,854 shares of company stock valued at $78,241. 1.80% of the stock is owned by insiders.

Institutional Trading of Delek US

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jump Financial LLC lifted its stake in Delek US by 2.1% in the fourth quarter. Jump Financial LLC now owns 113,092 shares of the oil and gas company’s stock valued at $2,918,000 after buying an additional 2,325 shares during the period. Grizzlyrock Capital LLC bought a new stake in Delek US in the fourth quarter valued at $2,405,000. Raymond James & Associates bought a new position in shares of Delek US during the 4th quarter worth about $13,295,000. Rafferty Asset Management LLC boosted its position in shares of Delek US by 35.2% during the 4th quarter. Rafferty Asset Management LLC now owns 185,458 shares of the oil and gas company’s stock worth $4,785,000 after purchasing an additional 48,254 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Delek US by 129.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 13,992 shares of the oil and gas company’s stock valued at $398,000 after buying an additional 7,892 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.