Delek US (NYSE:DK) Stock Price Down 4.5% on Disappointing Earnings

Delek US Holdings, Inc. (NYSE:DK)’s stock price fell 4.5% during mid-day trading on Wednesday following a dissappointing earnings announcement. The stock traded as low as $15.52 and last traded at $15.67. 459,869 shares changed hands during trading, a decline of 61% from the average session volume of 1,187,593 shares. The stock had previously closed at $16.40.

The oil and gas company reported ($2.54) EPS for the quarter, missing analysts’ consensus estimates of ($1.53) by ($1.01). The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.58 billion. Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. Delek US’s revenue was down 39.8% on a year-over-year basis. During the same period in the previous year, the company posted ($1.46) earnings per share.

Delek US Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.02 annualized dividend and a dividend yield of 6.44%. Delek US’s dividend payout ratio is currently -11.54%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Delek US from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Mizuho cut their price objective on shares of Delek US from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Wolfe Research upgraded shares of Delek US from an “underperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company cut their price objective on shares of Delek US from $17.00 to $15.00 and set an “underweight” rating on the stock in a report on Wednesday. Five research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.90.

Hedge Funds Weigh In On Delek US

Hedge funds have recently added to or reduced their stakes in the business. Clifford Capital Partners LLC acquired a new position in Delek US in the third quarter worth $7,504,000. JPMorgan Chase & Co. boosted its holdings in Delek US by 76.8% in the third quarter. JPMorgan Chase & Co. now owns 482,169 shares of the oil and gas company’s stock worth $9,041,000 after purchasing an additional 209,474 shares during the period. International Assets Investment Management LLC boosted its holdings in Delek US by 1,753.2% in the third quarter. International Assets Investment Management LLC now owns 648,507 shares of the oil and gas company’s stock worth $12,160,000 after purchasing an additional 613,514 shares during the period. Geode Capital Management LLC boosted its holdings in Delek US by 4.5% in the third quarter. Geode Capital Management LLC now owns 1,459,301 shares of the oil and gas company’s stock worth $27,368,000 after purchasing an additional 63,502 shares during the period. Finally, Summit Trail Advisors LLC acquired a new position in Delek US in the fourth quarter worth $565,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Delek US Trading Up 4.8 %

The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -3.26 and a beta of 1.20. The business’s fifty day simple moving average is $18.15 and its 200 day simple moving average is $18.57. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.04 and a quick ratio of 0.67.

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.