Rubric Capital Management LP Acquires New Shares in Delek US Holdings, Inc. (NYSE:DK)

Rubric Capital Management LP purchased a new stake in Delek US Holdings, Inc. (NYSE:DK - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,000,000 shares of the oil and gas company's stock, valued at approximately $37,500,000. Rubric Capital Management LP owned about 3.17% of Delek US as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Quarry LP bought a new stake in shares of Delek US in the 2nd quarter valued at about $43,000. Farther Finance Advisors LLC increased its stake in shares of Delek US by 24.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 7,733 shares of the oil and gas company's stock valued at $145,000 after acquiring an additional 1,508 shares during the last quarter. Bailard Inc. bought a new stake in shares of Delek US in the 2nd quarter valued at about $201,000. MQS Management LLC bought a new stake in shares of Delek US in the 3rd quarter valued at about $201,000. Finally, Chesapeake Capital Corp IL bought a new stake in shares of Delek US in the 2nd quarter valued at about $223,000. 97.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DK. Piper Sandler decreased their price objective on Delek US from $25.00 to $19.00 and set a "neutral" rating for the company in a research report on Friday, September 20th. StockNews.com lowered Delek US from a "hold" rating to a "sell" rating in a research report on Saturday, September 21st. Bank of America began coverage on Delek US in a research report on Thursday, October 17th. They issued an "underperform" rating and a $15.00 price objective for the company. TD Cowen decreased their price objective on Delek US from $19.00 to $18.00 and set a "sell" rating for the company in a research report on Thursday, August 8th. Finally, Scotiabank decreased their price objective on Delek US from $25.00 to $22.00 and set a "sector perform" rating for the company in a research report on Thursday, October 10th. Six analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $21.00.

Delek US Stock Down 1.1 %

DK traded down $0.22 during trading hours on Wednesday, reaching $19.16. The company's stock had a trading volume of 886,729 shares, compared to its average volume of 1,079,788. Delek US Holdings, Inc. has a 52 week low of $15.36 and a 52 week high of $33.60. The company's 50-day moving average is $18.22 and its 200-day moving average is $21.38. 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 - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($1.45) earnings per share for the quarter, topping the consensus estimate of ($1.71) by $0.26. The firm had revenue of $3.04 billion for 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%. The company's quarterly revenue was down 34.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.02 EPS. Sell-side analysts forecast that Delek US Holdings, Inc. will post -4.39 earnings per share for the current fiscal year.

Delek US Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 18th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 5.32%. The ex-dividend date of this dividend was Tuesday, November 12th. Delek US's payout ratio is -20.99%.

Delek US 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.