Delek US Holdings, Inc. to Post Q3 2023 Earnings of $1.02 Per Share, Zacks Research Forecasts (NYSE:DK)

Delek US Holdings, Inc. (NYSE:DK – Get Rating) – Investment analysts at Zacks Research reduced their Q3 2023 EPS estimates for shares of Delek US in a research report issued to clients and investors on Tuesday, March 14th. Zacks Research analyst N. Choudhury now forecasts that the oil and gas company will earn $1.02 per share for the quarter, down from their prior forecast of $1.48. The consensus estimate for Delek US’s current full-year earnings is $4.76 per share. Zacks Research also issued estimates for Delek US’s Q4 2023 earnings at $0.23 EPS, FY2023 earnings at $2.88 EPS, Q1 2024 earnings at $0.31 EPS, Q2 2024 earnings at $0.11 EPS, Q3 2024 earnings at $0.42 EPS, Q4 2024 earnings at $0.24 EPS, FY2024 earnings at $1.07 EPS and FY2025 earnings at $1.04 EPS.

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

Several other research analysts have also weighed in on DK. Wells Fargo & Company lowered shares of Delek US from an “overweight” rating to an “underweight” rating and cut their price objective for the stock from $40.00 to $24.00 in a report on Thursday, January 5th. StockNews.com started coverage on shares of Delek US in a report on Thursday. They set a “hold” rating on the stock. UBS Group initiated coverage on shares of Delek US in a report on Wednesday, March 8th. They set a “neutral” rating and a $29.00 price objective on the stock. TheStreet lowered shares of Delek US from a “b-” rating to a “c+” rating in a report on Wednesday, December 7th. Finally, Morgan Stanley raised their price target on shares of Delek US from $27.00 to $29.00 and gave the company an “underweight” rating in a report on Friday, January 20th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.42.

Delek US Price Performance

Shares of NYSE DK opened at $22.18 on Friday. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 6.32, a PEG ratio of 0.92 and a beta of 1.43. Delek US has a 52 week low of $18.10 and a 52 week high of $35.45. The company’s 50-day moving average price is $25.51 and its 200 day moving average price is $27.64. The company has a current ratio of 1.20, a quick ratio of 0.71 and a debt-to-equity ratio of 2.79.

Hedge Funds Weigh In On Delek US

Several large investors have recently made changes to their positions in DK. IFP Advisors Inc acquired a new stake in shares of Delek US during the third quarter worth about $30,000. Financial Management Professionals Inc. bought a new position in shares of Delek US during the third quarter worth about $31,000. Advisor Group Holdings Inc. grew its holdings in shares of Delek US by 44.3% during the first quarter. Advisor Group Holdings Inc. now owns 1,582 shares of the oil and gas company’s stock worth $33,000 after buying an additional 486 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Delek US by 61.3% during the first quarter. Parkside Financial Bank & Trust now owns 2,086 shares of the oil and gas company’s stock worth $44,000 after buying an additional 793 shares in the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in shares of Delek US during the second quarter worth about $81,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Insider Activity at Delek US

In related news, CEO Avigal Soreq bought 6,775 shares of Delek US stock in a transaction that occurred on Tuesday, March 14th. The stock was purchased at an average cost of $22.63 per share, for a total transaction of $153,318.25. Following the acquisition, the chief executive officer now owns 94,400 shares in the company, valued at $2,136,272. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Avigal Soreq bought 6,775 shares of Delek US stock in a transaction that occurred on Tuesday, March 14th. The stock was purchased at an average cost of $22.63 per share, for a total transaction of $153,318.25. Following the acquisition, the chief executive officer now owns 94,400 shares in the company, valued at $2,136,272. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Reuven Spiegel purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, March 14th. The shares were acquired at an average price of $22.60 per share, with a total value of $45,200.00. Following the completion of the acquisition, the chief financial officer now owns 33,148 shares of the company’s stock, valued at $749,144.80. The disclosure for this purchase can be found here. 1.50% 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 17th. Investors of record on Friday, March 10th were paid a $0.22 dividend. This is a boost from Delek US’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, March 9th. This represents a $0.88 annualized dividend and a dividend yield of 3.97%. Delek US’s payout ratio is presently 25.07%.

About Delek US

(Get Rating)

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.