Delek Logistics Partners (NYSE:DKL) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Delek Logistics Partners, L.P. (NYSE:DKL) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $52.93 and traded as high as $55.75. Delek Logistics Partners shares last traded at $55.6150, with a volume of 50,165 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DKL. Zacks Research raised shares of Delek Logistics Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Weiss Ratings raised shares of Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Finally, UBS Group assumed coverage on Delek Logistics Partners in a report on Thursday, July 16th. They issued a “neutral” rating and a $56.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.40.

Delek Logistics Partners Stock Up 0.6%

The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 19.38 and a beta of 0.44. The firm has a 50-day moving average of $55.41 and a 200 day moving average of $52.93. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 386.77.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.39). The firm had revenue of $384.76 million during the quarter, compared to analyst estimates of $293.64 million. Delek Logistics Partners had a net margin of 12.85% and a negative return on equity of 935.80%. On average, sell-side analysts anticipate that Delek Logistics Partners, L.P. will post 3.94 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a dividend of $1.135 per share. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.54 annualized dividend and a yield of 8.2%. Delek Logistics Partners’s payout ratio is presently 158.19%.

Insider Transactions at Delek Logistics Partners

In other Delek Logistics Partners news, Chairman Ezra Yemin bought 6,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was bought at an average cost of $50.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the chairman directly owned 168,217 shares of the company’s stock, valued at approximately $8,410,850. The trade was a 3.70% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Reuven Spiegel bought 1,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were acquired at an average cost of $50.00 per share, for a total transaction of $50,000.00. Following the completion of the transaction, the executive vice president owned 29,549 shares of the company’s stock, valued at approximately $1,477,450. The trade was a 3.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 15,000 shares of company stock worth $750,000 over the last three months. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Delek Logistics Partners

A number of hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new position in shares of Delek Logistics Partners in the 2nd quarter valued at approximately $50,000. Jones Financial Companies Lllp increased its stake in shares of Delek Logistics Partners by 303.3% in the first quarter. Jones Financial Companies Lllp now owns 1,210 shares of the oil and gas producer’s stock worth $52,000 after buying an additional 910 shares during the last quarter. State of Wyoming bought a new stake in shares of Delek Logistics Partners in the first quarter worth $67,000. Osaic Holdings Inc. raised its holdings in Delek Logistics Partners by 245.8% in the second quarter. Osaic Holdings Inc. now owns 2,687 shares of the oil and gas producer’s stock valued at $115,000 after acquiring an additional 1,910 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Delek Logistics Partners by 1,186.5% in the second quarter. Bank of America Corp DE now owns 4,194 shares of the oil and gas producer’s stock valued at $180,000 after acquiring an additional 3,868 shares in the last quarter. Institutional investors and hedge funds own 11.75% of the company’s stock.

Delek Logistics Partners Company Profile

Delek Logistics Partners L.P. (NYSE: DKL) is a master limited partnership formed in 2011 through contributions of pipeline, terminal and crude oil gathering assets by its sponsor, Delek US Holdings, Inc Headquartered in Brentwood, Tennessee, the partnership is managed by Delek Logistics GP, LLC, an affiliate of Delek US. Delek Logistics Partners owns and operates an integrated network of petroleum pipelines and terminals that support the movement, storage and throughput of crude oil and refined products.

The partnership’s core operations include crude oil gathering and processing systems, long-haul pipeline transportation and storage terminal services.