Rubric Capital Management LP Invests $37.50 Million in Delek US Holdings, Inc. (NYSE:DK)

Rubric Capital Management LP purchased a new position in shares of Delek US Holdings, Inc. (NYSE:DK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,000,000 shares of the oil and gas company’s stock, valued at approximately $37,500,000.

Several other large investors have also modified their holdings of DK. Point72 Asset Management L.P. acquired a new stake in Delek US during the second quarter valued at approximately $19,806,000. Easterly Investment Partners LLC raised its holdings in shares of Delek US by 26.7% during the second quarter. Easterly Investment Partners LLC now owns 457,536 shares of the oil and gas company’s stock worth $11,329,000 after purchasing an additional 96,531 shares during the period. Burney Co. bought a new position in shares of Delek US in the 2nd quarter worth about $1,111,000. International Assets Investment Management LLC raised its stake in Delek US by 1,753.2% during 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 acquiring an additional 613,514 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in Delek US by 41.7% in the second quarter. Harbor Capital Advisors Inc. now owns 48,835 shares of the oil and gas company’s stock worth $1,209,000 after acquiring an additional 14,367 shares during the last quarter. Institutional investors own 97.01% of the company’s stock.

Delek US Trading Up 1.5 %

Shares of DK opened at $19.38 on Wednesday. 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 Holdings, Inc. has a 1-year low of $15.36 and a 1-year high of $33.60. The business’s 50-day moving average price is $18.22 and its 200 day moving average price is $21.38.

Delek US (NYSE:DK) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($1.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.71) by $0.26. Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the previous year, the business earned $2.02 earnings per share. The firm’s revenue was down 34.3% compared to the same quarter last year. On average, analysts expect that Delek US Holdings, Inc. will post -4.39 earnings per share for the current fiscal year.

Delek US Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.255 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.26%. Delek US’s dividend payout ratio is -20.99%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. StockNews.com lowered Delek US from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. TD Cowen lowered their target price on shares of Delek US from $19.00 to $18.00 and set a “sell” rating on the stock in a research note on Thursday, August 8th. Piper Sandler reduced their price target on shares of 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 lowered their price objective on shares of Delek US from $21.00 to $18.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 9th. Finally, Morgan Stanley lowered their price target on Delek US from $24.00 to $22.00 and set an “underweight” rating on the stock in a research report on Monday, September 16th. Six analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $21.00.

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.