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

Rubric Capital Management LP acquired a new stake in Delek US Holdings, Inc. (NYSE:DK) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,000,000 shares of the oil and gas company’s stock, valued at approximately $37,500,000. Rubric Capital Management LP owned approximately 3.17% of Delek US at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. River Road Asset Management LLC increased its stake in shares of Delek US by 1.1% during the 3rd quarter. River Road Asset Management LLC now owns 4,100,268 shares of the oil and gas company’s stock worth $76,880,000 after purchasing an additional 45,949 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Delek US by 17.2% in the third quarter. Victory Capital Management Inc. now owns 3,279,590 shares of the oil and gas company’s stock worth $61,492,000 after acquiring an additional 480,614 shares during the last quarter. FMR LLC lifted its position in shares of Delek US by 47.3% in the third quarter. FMR LLC now owns 1,707,773 shares of the oil and gas company’s stock valued at $32,021,000 after acquiring an additional 548,777 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Delek US during the second quarter valued at $22,833,000. Finally, SIR Capital Management L.P. increased its position in Delek US by 37.2% during the 2nd quarter. SIR Capital Management L.P. now owns 876,133 shares of the oil and gas company’s stock worth $21,693,000 after purchasing an additional 237,734 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Delek US Trading Up 1.5 %

Shares of NYSE DK opened at $19.38 on Wednesday. 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 Holdings, Inc. has a 1-year low of $15.36 and a 1-year high of $33.60. The business has a 50-day moving average of $18.22 and a 200-day moving average of $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 for the quarter, topping analysts’ consensus estimates of ($1.71) by $0.26. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. Delek US’s quarterly revenue was down 34.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.02 EPS. As a group, equities analysts anticipate that Delek US Holdings, Inc. will post -4.39 EPS for the current year.

Delek US Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on DK shares. Bank of America initiated coverage on shares of Delek US in a research note on Thursday, October 17th. They set an “underperform” rating and a $15.00 price target on the stock. Morgan Stanley decreased their price objective on Delek US from $24.00 to $22.00 and set an “underweight” rating on the stock in a report on Monday, September 16th. Mizuho upgraded Delek US from an “underperform” rating to a “neutral” rating and reduced their target price for the stock from $28.00 to $26.00 in a research report on Monday, September 16th. TD Cowen cut their price objective on shares of Delek US from $19.00 to $18.00 and set a “sell” rating on the stock in a report on Thursday, August 8th. Finally, Scotiabank cut their price target on shares of Delek US from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Six investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $21.00.

About Delek US

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.