Q2 2023 EPS Estimates for Delek US Holdings, Inc. Reduced by Zacks Research (NYSE:DK)

Delek US Holdings, Inc. (NYSE:DK – Get Rating) – Equities researchers at Zacks Research cut their Q2 2023 earnings estimates for Delek US in a research note issued to investors on Monday, May 22nd. Zacks Research analyst N. Choudhury now expects that the oil and gas company will earn $1.05 per share for the quarter, down from their previous estimate of $1.37. The consensus estimate for Delek US’s current full-year earnings is $3.55 per share. Zacks Research also issued estimates for Delek US’s Q3 2023 earnings at $0.97 EPS, Q4 2023 earnings at $0.26 EPS, FY2023 earnings at $3.66 EPS, Q1 2024 earnings at $0.06 EPS, Q2 2024 earnings at $0.48 EPS, Q3 2024 earnings at $0.14 EPS, Q4 2024 earnings at $0.74 EPS and Q1 2025 earnings at $0.17 EPS.

Delek US (NYSE:DK – Get Rating) last issued its quarterly earnings results on Monday, May 8th. The oil and gas company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.31. Delek US had a net margin of 1.60% and a return on equity of 38.98%. The business had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same period last year, the business earned $0.58 earnings per share. The business’s quarterly revenue was down 12.0% on a year-over-year basis.

DK has been the subject of a number of other research reports. UBS Group started coverage on Delek US in a research note on Wednesday, March 8th. They set a “neutral” rating and a $29.00 price objective for the company. StockNews.com started coverage on Delek US in a research note on Thursday, May 18th. They set a “hold” rating for the company. JPMorgan Chase & Co. dropped their price objective on Delek US from $27.00 to $26.00 and set an “underweight” rating for the company in a research note on Tuesday, March 28th. The Goldman Sachs Group lowered Delek US from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $33.00 to $24.00 in a research note on Wednesday, March 29th. Finally, Raymond James dropped their price target on Delek US from $35.00 to $32.00 and set an “outperform” rating for the company in a research note on Tuesday, March 14th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Delek US presently has an average rating of “Hold” and an average price target of $30.08.

Delek US Stock Down 1.3 %

Shares of NYSE DK opened at $23.21 on Thursday. The stock has a market capitalization of $1.53 billion, a P/E ratio of 5.31, a PEG ratio of 1.25 and a beta of 1.46. Delek US has a one year low of $19.39 and a one year high of $35.45. The company has a debt-to-equity ratio of 2.42, a current ratio of 1.11 and a quick ratio of 0.65. The firm’s 50 day simple moving average is $22.44 and its two-hundred day simple moving average is $25.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DK. Advisor Group Holdings Inc. boosted its position in Delek US by 44.3% in the first quarter. Advisor Group Holdings Inc. now owns 1,582 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 486 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Delek US by 22.1% during the 1st quarter. American Century Companies Inc. now owns 22,726 shares of the oil and gas company’s stock valued at $482,000 after buying an additional 4,120 shares in the last quarter. Citigroup Inc. lifted its position in shares of Delek US by 3.6% during the 1st quarter. Citigroup Inc. now owns 76,831 shares of the oil and gas company’s stock valued at $1,630,000 after buying an additional 2,683 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Delek US by 55.2% during the 1st quarter. MetLife Investment Management LLC now owns 36,779 shares of the oil and gas company’s stock valued at $780,000 after buying an additional 13,076 shares in the last quarter. Finally, APG Asset Management N.V. purchased a new position in shares of Delek US during the 1st quarter valued at about $217,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Avigal Soreq purchased 6,775 shares of Delek US stock in a transaction dated 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 completion of the acquisition, the chief executive officer now directly owns 94,400 shares of the company’s stock, valued at $2,136,272. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Delek US news, CFO Reuven Spiegel acquired 2,000 shares of Delek US stock in a transaction that occurred on Tuesday, March 14th. The stock was bought at an average cost of $22.60 per share, for a total transaction of $45,200.00. Following the acquisition, the chief financial officer now owns 33,148 shares of the company’s stock, valued at $749,144.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Avigal Soreq acquired 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, with a total value of $153,318.25. Following the completion of the acquisition, the chief executive officer now directly owns 94,400 shares in the company, valued at approximately $2,136,272. The disclosure for this purchase can be found here. Corporate insiders own 1.80% of the company’s stock.

Delek US Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Stockholders of record on Monday, May 15th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, May 12th. This is an increase from Delek US’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 3.96%. Delek US’s dividend payout ratio (DPR) is presently 21.05%.

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.