Delek US Holdings, Inc. (DK) To Go Ex-Dividend on November 10th

Delek US Holdings, Inc. (NYSE:DK) announced a quarterly dividend on Thursday, October 29th. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.30 per share by the oil and gas company on Wednesday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Tuesday, November 10th. This is a 17.6% increase from Delek US’s previous quarterly dividend of $0.2550.

Delek US has a dividend payout ratio of -56.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Delek US to earn $14.03 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 8.6%.

Delek US Stock Performance

NYSE DK opened at $63.66 on Friday. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 3.38, a price-to-earnings-growth ratio of 0.47 and a beta of 0.61. The company has a quick ratio of 0.47, a current ratio of 0.76 and a debt-to-equity ratio of 7.53. The business has a 50-day moving average price of $73.68 and a 200-day moving average price of $53.75. Delek US has a twelve month low of $25.85 and a twelve month high of $82.27.

Delek US (NYSE:DK) last released its earnings results on Friday, November 6th. The oil and gas company reported $13.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.05 by $5.50. The firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Delek US had a return on equity of 109.03% and a net margin of 1.86%. The firm’s revenue was up 52.1% on a year-over-year basis. During the same quarter last year, the business posted $7.13 earnings per share. As a group, equities research analysts predict that Delek US will post 18.62 EPS for the current fiscal year.

Insider Buying and Selling at Delek US

In related news, Director Vicky Sutil sold 6,397 shares of Delek US stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $71.50, for a total transaction of $457,385.50. Following the transaction, the director directly owned 26,407 shares of the company’s stock, valued at $1,888,100.50. This trade represents a 19.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Avigal Soreq sold 80,000 shares of Delek US stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $66.51, for a total value of $5,320,800.00. Following the completion of the transaction, the chief executive officer owned 231,486 shares in the company, valued at $15,396,133.86. This trade represents a 25.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 163,377 shares of company stock worth $11,082,485. Insiders own 3.56% of the company’s stock.

Hedge Funds Weigh In On Delek US

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new position in Delek US during the 2nd quarter worth approximately $275,233,000. Bank of America Corp DE acquired a new position in shares of Delek US in the 2nd quarter worth approximately $37,664,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Delek US in the 2nd quarter worth approximately $22,987,000. Bank of New York Mellon Corp bought a new stake in shares of Delek US in the 2nd quarter valued at approximately $19,760,000. Finally, SIR Capital Management L.P. bought a new stake in shares of Delek US in the 2nd quarter valued at approximately $18,459,000. 97.01% of the stock is owned by institutional investors and hedge funds.

Delek US Company Profile

Delek US Holdings, Inc is a downstream energy company headquartered in Brentwood, Tennessee. The company operates petroleum refineries and related logistics assets, producing and transporting fuels and other refined petroleum products for markets primarily in the southern United States.

Through its refining operations, Delek processes crude oil into products such as gasoline, diesel, jet fuel and asphalt. Its logistics business, conducted in part through Delek Logistics Partners, owns and operates pipelines, crude oil gathering systems, storage terminals, transportation assets and other infrastructure that supports the movement of crude oil and refined products.

Delek has also operated convenience stores and fuel stations, particularly in Texas and neighboring states, under brands including DK and Alon.