Zacks Research Analysts Raise Earnings Estimates for Delek US Holdings, Inc. (NYSE:DK)

Delek US Holdings, Inc. (NYSE:DK – Get Rating) – Equities research analysts at Zacks Research lifted their Q1 2023 EPS estimates for shares of Delek US in a research note issued on Tuesday, March 14th. Zacks Research analyst N. Choudhury now expects that the oil and gas company will earn $0.30 per share for the quarter, up from their previous estimate of $0.21. The consensus estimate for Delek US’s current full-year earnings is $4.69 per share. Zacks Research also issued estimates for Delek US’s Q2 2023 earnings at $1.33 EPS.

Other analysts have also recently issued reports about the company. Morgan Stanley boosted their price objective on Delek US from $27.00 to $29.00 and gave the stock an “underweight” rating in a report on Friday, January 20th. UBS Group began coverage on shares of Delek US in a report on Wednesday, March 8th. They issued a “neutral” rating and a $29.00 price objective on the stock. TheStreet cut shares of Delek US from a “b-” rating to a “c+” rating in a research note on Wednesday, December 7th. Mizuho dropped their target price on shares of Delek US from $30.00 to $25.00 in a research report on Friday, March 10th. Finally, Wells Fargo & Company lowered Delek US from an “overweight” rating to an “underweight” rating and reduced their price target for the stock from $40.00 to $24.00 in a research report on Thursday, January 5th. Four analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $31.42.

Delek US Stock Performance

Shares of Delek US stock opened at $22.24 on Thursday. The firm has a 50 day simple moving average of $25.55 and a 200 day simple moving average of $27.70. Delek US has a fifty-two week low of $18.01 and a fifty-two week high of $35.45. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.20 and a quick ratio of 0.71. The firm has a market cap of $1.49 billion, a P/E ratio of 6.34, a P/E/G ratio of 0.91 and a beta of 1.43.

Delek US (NYSE:DK – Get Rating) last announced its earnings results on Tuesday, February 28th. The oil and gas company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.05). The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $3.14 billion. Delek US had a return on equity of 35.96% and a net margin of 1.27%. Delek US’s revenue for the quarter was up 44.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.61) EPS.

Delek US Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Friday, March 10th will be paid a $0.22 dividend. This is a boost from Delek US’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, March 9th. This represents a $0.88 annualized dividend and a yield of 3.96%. Delek US’s payout ratio is presently 25.07%.

Insiders Place Their Bets

In other Delek US news, CEO Avigal Soreq bought 6,775 shares of Delek US stock in a transaction that occurred on Tuesday, March 14th. The stock was acquired at an average price of $22.63 per share, for a total transaction of $153,318.25. Following the completion of the acquisition, the chief executive officer now owns 94,400 shares of the company’s stock, valued at approximately $2,136,272. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Reuven Spiegel purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, March 14th. The stock was purchased at an average cost of $22.60 per share, for a total transaction of $45,200.00. Following the completion of the purchase, the chief financial officer now directly owns 33,148 shares in the company, valued at $749,144.80. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Avigal Soreq purchased 6,775 shares of the stock in a transaction on Tuesday, March 14th. The shares were bought at an average cost of $22.63 per share, for a total transaction of $153,318.25. Following the transaction, the chief executive officer now directly owns 94,400 shares in the company, valued at $2,136,272. The disclosure for this purchase can be found here. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Delek US by 28.4% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 14,786 shares of the oil and gas company’s stock worth $401,000 after acquiring an additional 3,266 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Delek US during the 3rd quarter worth about $254,000. Two Sigma Advisers LP boosted its holdings in shares of Delek US by 26.8% during the 3rd quarter. Two Sigma Advisers LP now owns 726,185 shares of the oil and gas company’s stock worth $19,709,000 after buying an additional 153,300 shares during the period. Ion Asset Management Ltd. bought a new stake in shares of Delek US during the 2nd quarter worth about $18,696,000. Finally, Delphia USA Inc. grew its stake in Delek US by 11.3% in the 3rd quarter. Delphia USA Inc. now owns 40,354 shares of the oil and gas company’s stock valued at $1,095,000 after buying an additional 4,100 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Delek US Company Profile

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Delek US Holdings, Inc engages in petroleum refining, and the transportation, storage, and wholesale distribution of crude oil. It operates through the following segments: Refining, Logistics, Retail, and Corporate and Other. The Refining segment processes crude oil and other purchased feedstocks for the manufacture of transportation motor fuels, including gasoline, diesel fuel and aviation fuel, asphalt, and other petroleum-based products.