Scotiabank Comments on Delek US’s FY2024 Earnings (NYSE:DK)

Delek US Holdings, Inc. (NYSE:DK) – Equities researchers at Scotiabank decreased their FY2024 earnings estimates for Delek US in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst P. Cheng now forecasts that the oil and gas company will earn ($4.55) per share for the year, down from their previous forecast of ($1.85). Scotiabank currently has a “Sector Perform” rating and a $22.00 target price on the stock. The consensus estimate for Delek US’s current full-year earnings is ($4.38) per share. Scotiabank also issued estimates for Delek US’s FY2025 earnings at ($3.00) EPS and FY2026 earnings at ($2.60) EPS.

DK has been the topic of several other research reports. StockNews.com lowered shares of Delek US from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. Mizuho dropped their price target on Delek US from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Piper Sandler reduced their price objective on Delek US from $25.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Wells Fargo & Company cut their target price on Delek US from $18.00 to $16.00 and set an “underweight” rating on the stock in a report on Monday, December 9th. Finally, Morgan Stanley reduced their price target on shares of Delek US from $24.00 to $22.00 and set an “underweight” rating for the company in a research report on Monday, September 16th. Five investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $21.00.

Delek US Stock Up 3.2 %

Delek US stock opened at $19.47 on Monday. The company has a market capitalization of $1.23 billion, a PE ratio of -4.01 and a beta of 1.22. Delek US has a 12-month low of $15.36 and a 12-month high of $33.60. The firm’s fifty day moving average is $18.11 and its 200 day moving average is $19.53. The company has a quick ratio of 0.67, a current ratio of 1.04 and a debt-to-equity ratio of 3.18.

Delek US (NYSE:DK) last announced its earnings results on Wednesday, November 6th. The oil and gas company reported ($1.45) EPS for the quarter, beating the consensus estimate of ($1.71) by $0.26. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.23 billion. Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The firm’s revenue for the quarter was down 34.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.02 EPS.

Institutional Investors Weigh In On Delek US

A number of hedge funds have recently modified their holdings of the stock. Rubric Capital Management LP bought a new position in Delek US in the 3rd quarter worth approximately $37,500,000. Philosophy Capital Management LLC purchased a new position in shares of Delek US in the third quarter valued at $21,471,000. Encompass Capital Advisors LLC bought a new stake in shares of Delek US during the 2nd quarter valued at $22,833,000. Point72 Asset Management L.P. bought a new stake in shares of Delek US during the 2nd quarter valued at $19,806,000. Finally, International Assets Investment Management LLC boosted its stake in Delek US by 1,753.2% in the 3rd 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. Institutional investors own 97.01% of the company’s stock.

Delek US Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Tuesday, November 12th were given a dividend of $0.255 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.02 annualized dividend and a yield of 5.24%. Delek US’s payout ratio is currently -20.99%.

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.