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Where Will Delek (DK) Spend the Bulk of Its 2023 Capex?
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Diversified downstream energy company Delek US Holdings (DK - Free Report) recently offered a glimpse of its 2023 capital spending plans.
DK has pegged its consolidated capital budget at $350 million, up 19% from the midpoint of its 2022 guidance. Of the Brentwood, TN-based company's total 2023 capital expenditure, approximately 58% is planned to be spent on its key ‘Refining’ segment. At some $176 million, maintenance/turnaround costs will constitute the lion’s share of spending.
As far as the ‘Logistics’ business (which is engaged in the gathering, transportation, storage and distribution of energy products) is concerned, Delek expects to spend approximately $81 million in 2023 as organic capital spending — primarily on growth initiatives.
Meanwhile, DK has earmarked approximately $31 million and $36 million for Retail and Corporate expenses, respectively.
Zacks Rank & Key Picks
Delek US Holdings — which is an independent refiner, transporter and marketer of petroleum products.— carries a Zacks Rank #3 (Hold) at present.
Meanwhile, investors interested in the energy sector might look at operators like Murphy USA (MUSA - Free Report) , Helmerich & Payne (HP - Free Report) and Patterson-UTI Energy (PTEN - Free Report) , each carrying a Zacks Rank #1 (Strong Buy), currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Murphy USA: Over the past 60 days, this El Dorado, AR-based Murphy USA has seen the Zacks Consensus Estimate for 2022 improve 4%. MUSA, which surpassed third-quarter bottom-line estimates by 18.7%, is valued at around $6.1 billion.
Murphy USA has a trailing four-quarter earnings surprise of roughly 51%, on average. MUSA has seen its shares gain 40.7% in a year.
Helmerich & Payne: Helmerich & Payne is valued at some $5.3 billion. The Zacks Consensus Estimate for HP’s fiscal 2023 earnings has been revised 20.2% upward over the past 60 days.
Helmerich & Payne, headquartered in Tulsa, OK, has a trailing four-quarter earnings surprise of roughly 124.2%, on average. HP shares have surged 66.6% in a year.
Patterson-UTI Energy: PTEN beat the Zacks Consensus Estimate for earnings in three of the last four quarters. The company has a trailing four-quarter earnings surprise of roughly 169.2%, on average.
Patterson-UTI is valued at around $3.8 billion. PTEN has seen its shares gain 68.5% in a year.
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Where Will Delek (DK) Spend the Bulk of Its 2023 Capex?
Diversified downstream energy company Delek US Holdings (DK - Free Report) recently offered a glimpse of its 2023 capital spending plans.
DK has pegged its consolidated capital budget at $350 million, up 19% from the midpoint of its 2022 guidance. Of the Brentwood, TN-based company's total 2023 capital expenditure, approximately 58% is planned to be spent on its key ‘Refining’ segment. At some $176 million, maintenance/turnaround costs will constitute the lion’s share of spending.
As far as the ‘Logistics’ business (which is engaged in the gathering, transportation, storage and distribution of energy products) is concerned, Delek expects to spend approximately $81 million in 2023 as organic capital spending — primarily on growth initiatives.
Meanwhile, DK has earmarked approximately $31 million and $36 million for Retail and Corporate expenses, respectively.
Zacks Rank & Key Picks
Delek US Holdings — which is an independent refiner, transporter and marketer of petroleum products.— carries a Zacks Rank #3 (Hold) at present.
Meanwhile, investors interested in the energy sector might look at operators like Murphy USA (MUSA - Free Report) , Helmerich & Payne (HP - Free Report) and Patterson-UTI Energy (PTEN - Free Report) , each carrying a Zacks Rank #1 (Strong Buy), currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Murphy USA: Over the past 60 days, this El Dorado, AR-based Murphy USA has seen the Zacks Consensus Estimate for 2022 improve 4%. MUSA, which surpassed third-quarter bottom-line estimates by 18.7%, is valued at around $6.1 billion.
Murphy USA has a trailing four-quarter earnings surprise of roughly 51%, on average. MUSA has seen its shares gain 40.7% in a year.
Helmerich & Payne: Helmerich & Payne is valued at some $5.3 billion. The Zacks Consensus Estimate for HP’s fiscal 2023 earnings has been revised 20.2% upward over the past 60 days.
Helmerich & Payne, headquartered in Tulsa, OK, has a trailing four-quarter earnings surprise of roughly 124.2%, on average. HP shares have surged 66.6% in a year.
Patterson-UTI Energy: PTEN beat the Zacks Consensus Estimate for earnings in three of the last four quarters. The company has a trailing four-quarter earnings surprise of roughly 169.2%, on average.
Patterson-UTI is valued at around $3.8 billion. PTEN has seen its shares gain 68.5% in a year.