Zacks Research Comments on Delek US Holdings, Inc.’s Q3 2024 Earnings (NYSE:DK)

Delek US Holdings, Inc. (NYSE:DK) – Analysts at Zacks Research cut their Q3 2024 earnings per share (EPS) estimates for Delek US in a research note issued on Thursday, April 25th. Zacks Research analyst R. Department now forecasts that the oil and gas company will earn $0.71 per share for the quarter, down from their previous forecast of $0.82. The consensus estimate for Delek US’s current full-year earnings is $1.43 per share. Zacks Research also issued estimates for Delek US’s Q1 2025 earnings at $0.04 EPS and Q3 2025 earnings at $0.31 EPS.

Delek US (NYSE:DK) last posted its quarterly earnings data on Tuesday, February 27th. The oil and gas company reported ($1.46) EPS 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 analysts’ expectations of $3.55 billion. During the same quarter in the previous year, the company posted $0.88 EPS. Delek US’s revenue for the quarter was down 9.6% on a year-over-year basis.

Several other equities analysts also recently commented on DK. Mizuho upped their price objective on Delek US from $26.00 to $30.00 and gave the company an “underperform” rating in a research note on Friday, March 22nd. StockNews.com downgraded Delek US from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. TD Cowen increased their target price on Delek US from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Wells Fargo & Company increased their target price on Delek US from $21.00 to $26.00 and gave the stock an “underweight” rating in a research report on Wednesday, March 20th. Finally, Bank of America increased their target price on Delek US from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Delek US presently has a consensus rating of “Hold” and a consensus price target of $28.56.

Delek US Price Performance

Delek US stock opened at $29.33 on Friday. Delek US has a 12 month low of $19.39 and a 12 month high of $33.60. 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 business’s 50 day simple moving average is $29.15 and its 200 day simple moving average is $27.39. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 133.32 and a beta of 1.32.

Institutional Investors Weigh In On Delek US

A number of hedge funds have recently made changes to their positions in the business. AE Wealth Management LLC purchased a new position in Delek US in the 3rd quarter worth $510,000. IFP Advisors Inc purchased a new position in Delek US in the 3rd quarter worth $28,000. SG Americas Securities LLC purchased a new position in Delek US in the 3rd quarter worth $295,000. Raymond James Financial Services Advisors Inc. purchased a new position in Delek US in the 3rd quarter worth $307,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Delek US by 35.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,129 shares of the oil and gas company’s stock worth $401,000 after purchasing an additional 3,711 shares during the period. 97.01% of the stock is currently owned by institutional investors.

Insider Transactions at Delek US

In other Delek US news, CFO Robert G. Wright sold 2,123 shares of Delek US stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $28.50, for a total transaction of $60,505.50. Following the completion of the sale, the chief financial officer now owns 18,925 shares of the company’s stock, valued at $539,362.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders have sold 4,976 shares of company stock valued at $141,243. 1.80% of the stock is currently owned by company insiders.

Delek US Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, March 1st were issued a $0.245 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.98 annualized dividend and a dividend yield of 3.34%. This is a boost from Delek US’s previous quarterly dividend of $0.24. Delek US’s dividend payout ratio is presently 445.45%.

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.