Research Analysts Set Expectations for Delek US Holdings, Inc.’s Q2 2024 Earnings (NYSE:DK)

Delek US Holdings, Inc. (NYSE:DK) – Equities research analysts at Zacks Research cut their Q2 2024 earnings per share estimates for shares of Delek US in a research report issued to clients and investors on Wednesday, July 24th. Zacks Research analyst R. Department now anticipates that the oil and gas company will post earnings of ($1.11) per share for the quarter, down from their previous forecast of $0.73. The consensus estimate for Delek US’s current full-year earnings is ($2.83) per share. Zacks Research also issued estimates for Delek US’s Q3 2024 earnings at ($0.37) EPS, Q4 2024 earnings at ($0.95) EPS, FY2024 earnings at ($2.84) EPS, Q1 2025 earnings at ($0.37) EPS, Q2 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.48) EPS, Q4 2025 earnings at $0.62 EPS, FY2025 earnings at ($0.49) EPS, Q1 2026 earnings at $0.01 EPS and Q2 2026 earnings at ($0.19) EPS.

Delek US (NYSE:DK) last announced its quarterly earnings data on Tuesday, May 7th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.15. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Delek US had a positive return on equity of 7.37% and a negative net margin of 0.48%. The business’s quarterly revenue was down 17.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.37 EPS.

Several other research firms have also recently weighed in on DK. Mizuho decreased their target price on Delek US from $31.00 to $27.00 and set an “underperform” rating for the company in a research note on Thursday, June 20th. Scotiabank decreased their target price on Delek US from $27.00 to $25.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. JPMorgan Chase & Co. decreased their target price on Delek US from $25.00 to $23.00 and set an “underweight” rating for the company in a research note on Tuesday, July 2nd. TD Cowen cut Delek US from a “hold” rating to a “sell” rating and decreased their target price for the stock from $25.00 to $20.00 in a research note on Monday, June 10th. Finally, UBS Group boosted their price objective on Delek US from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $25.50.

Delek US Stock Performance

Shares of DK opened at $23.93 on Friday. The stock has a 50-day simple moving average of $24.41 and a 200-day simple moving average of $26.79. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.64 and a current ratio of 1.04. The stock has a market capitalization of $1.53 billion, a PE ratio of -19.30 and a beta of 1.19. Delek US has a 1 year low of $21.15 and a 1 year high of $33.60.

Hedge Funds Weigh In On Delek US

Several hedge funds have recently bought and sold shares of the company. SummerHaven Investment Management LLC raised its position in Delek US by 1.3% during the fourth quarter. SummerHaven Investment Management LLC now owns 31,891 shares of the oil and gas company’s stock worth $823,000 after acquiring an additional 404 shares during the last quarter. Shell Asset Management Co. raised its position in shares of Delek US by 6.8% during the 1st quarter. Shell Asset Management Co. now owns 9,890 shares of the oil and gas company’s stock worth $304,000 after purchasing an additional 628 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Delek US by 4.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,817 shares of the oil and gas company’s stock valued at $382,000 after buying an additional 688 shares in the last quarter. ProShare Advisors LLC grew its holdings in Delek US by 7.1% during the 1st quarter. ProShare Advisors LLC now owns 11,412 shares of the oil and gas company’s stock valued at $351,000 after buying an additional 754 shares during the last quarter. Finally, Spirit of America Management Corp NY purchased a new stake in Delek US during the 4th quarter worth about $26,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Delek US news, Director Richard J. Marcogliese purchased 2,750 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were purchased at an average cost of $23.99 per share, for a total transaction of $65,972.50. Following the completion of the purchase, the director now directly owns 42,863 shares in the company, valued at $1,028,283.37. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 2,854 shares of company stock valued at $71,078. Company insiders own 1.80% of the company’s stock.

Delek US Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 17th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.18%. This is a positive change from Delek US’s previous quarterly dividend of $0.25. Delek US’s payout ratio is presently -80.65%.

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.