Delek Logistics Partners LP (NYSE:DKL) was the target of a large drop in short interest in October. As of October 15th, there was short interest totalling 59,700 shares, a drop of 15.8% from the September 15th total of 70,900 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily volume of 31,300 shares, the short-interest ratio is currently 1.9 days.
DKL has been the subject of a number of recent research reports. ValuEngine cut shares of Delek Logistics Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Zacks Investment Research cut shares of Delek Logistics Partners from a “hold” rating to a “sell” rating in a research note on Friday.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its position in Delek Logistics Partners by 3.5% during the second quarter. Wells Fargo & Company MN now owns 26,519 shares of the oil and gas producer’s stock worth $849,000 after acquiring an additional 904 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Delek Logistics Partners by 69,700.0% during the second quarter. BNP Paribas Arbitrage SA now owns 2,094 shares of the oil and gas producer’s stock worth $67,000 after acquiring an additional 2,091 shares during the last quarter. LPL Financial LLC boosted its position in Delek Logistics Partners by 20.1% during the second quarter. LPL Financial LLC now owns 13,738 shares of the oil and gas producer’s stock worth $440,000 after acquiring an additional 2,300 shares during the last quarter. CWM LLC acquired a new stake in Delek Logistics Partners during the second quarter worth approximately $94,000. Finally, HighTower Advisors LLC acquired a new stake in Delek Logistics Partners during the second quarter worth approximately $231,000. Hedge funds and other institutional investors own 21.73% of the company’s stock.
Shares of DKL opened at $32.05 on Tuesday. The firm has a 50 day simple moving average of $31.25 and a 200-day simple moving average of $31.46. Delek Logistics Partners has a 1-year low of $27.01 and a 1-year high of $34.12. The stock has a market cap of $793.54 million, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 5.86 and a beta of 0.95.
Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Monday, August 5th. The oil and gas producer reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.06. Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 58.83%. The business had revenue of $155.34 million during the quarter, compared to analysts’ expectations of $161.39 million. On average, equities analysts expect that Delek Logistics Partners will post 2.72 earnings per share for the current year.
The firm also recently disclosed a dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th will be paid a dividend of $0.88 per share. This is a boost from Delek Logistics Partners’s previous dividend of $0.73. The ex-dividend date of this dividend is Friday, November 1st. Delek Logistics Partners’s dividend payout ratio (DPR) is 128.30%.
Delek Logistics Partners Company Profile
Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products in the United States. It operates in two segments, Pipelines and Transportation, and Wholesale Marketing and Terminalling. The Pipelines and Transportation segment consists of assets, including pipelines and trucks, and ancillary assets that provide crude oil gathering and crude oil, intermediate and finished products transportation, and storage services primarily in support of the Tyler and El Dorado refineries, as well as offers crude oil and other products transportation services to third parties.
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