Delek Logistics Partners (NYSE:DKL) Lowered to Hold Rating by StockNews.com

Delek Logistics Partners (NYSE:DKL) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

A number of other research analysts have also weighed in on DKL. Bank of America started coverage on shares of Delek Logistics Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $36.00 target price for the company. Citigroup raised shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $44.00 to $45.00 in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Delek Logistics Partners presently has a consensus rating of “Hold” and a consensus price target of $43.00.

Delek Logistics Partners Stock Performance

DKL traded up $0.55 during trading on Thursday, reaching $39.83. 225,302 shares of the company traded hands, compared to its average volume of 104,351. Delek Logistics Partners has a 12-month low of $37.02 and a 12-month high of $53.80. The firm has a fifty day simple moving average of $41.18 and a 200 day simple moving average of $40.24. The company has a market cap of $1.88 billion, a P/E ratio of 13.69, a PEG ratio of 1.01 and a beta of 2.12.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.06. Delek Logistics Partners had a net margin of 12.48% and a negative return on equity of 147.45%. The business had revenue of $264.63 million during the quarter, compared to analyst estimates of $257.17 million. During the same period last year, the firm posted $0.73 EPS. As a group, sell-side analysts expect that Delek Logistics Partners will post 3.41 earnings per share for the current fiscal year.

Insider Transactions at Delek Logistics Partners

In other Delek Logistics Partners news, EVP Joseph Israel bought 3,076 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was acquired at an average cost of $39.00 per share, for a total transaction of $119,964.00. Following the completion of the transaction, the executive vice president now owns 13,782 shares in the company, valued at $537,498. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Delek Logistics Partners news, CFO Reuven Spiegel bought 1,282 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was acquired at an average cost of $39.00 per share, for a total transaction of $49,998.00. Following the completion of the transaction, the chief financial officer now owns 20,223 shares in the company, valued at $788,697. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph Israel bought 3,076 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were acquired at an average price of $39.00 per share, with a total value of $119,964.00. Following the completion of the transaction, the executive vice president now owns 13,782 shares of the company’s stock, valued at approximately $537,498. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 12,934 shares of company stock worth $504,348. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Delek Logistics Partners

Several institutional investors and hedge funds have recently made changes to their positions in DKL. Farther Finance Advisors LLC bought a new stake in shares of Delek Logistics Partners in the third quarter valued at about $49,000. Future Financial Wealth Managment LLC bought a new stake in shares of Delek Logistics Partners in the third quarter valued at about $70,000. Sittner & Nelson LLC bought a new stake in shares of Delek Logistics Partners in the third quarter valued at about $109,000. Van ECK Associates Corp raised its holdings in shares of Delek Logistics Partners by 76.0% in the second quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock valued at $135,000 after acquiring an additional 1,437 shares in the last quarter. Finally, Strategic Financial Concepts LLC raised its holdings in shares of Delek Logistics Partners by 4,182.7% in the second quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock valued at $201,000 after acquiring an additional 484,571 shares in the last quarter. 11.75% of the stock is currently owned by institutional investors.

Delek Logistics Partners Company Profile

Delek Logistics Partners, LP provides gathering, pipeline, transportation, and other services for crude oil, intermediates, refined products, natural gas, storage, wholesale marketing, terminalling water disposal and recycling customers in the United States. The Gathering and Processing segment consists of pipelines, tanks, and offloading facilities that provide crude oil and natural gas gathering and processing, water disposal and recycling, and storage services, as well as crude oil transportation services to third parties.