Delek Logistics Partners (NYSE:DKL) Stock Rating Upgraded by Citigroup

Delek Logistics Partners (NYSE:DKL) was upgraded by analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm currently has a $45.00 price objective on the oil and gas producer’s stock, up from their previous price objective of $44.00. Citigroup’s price objective indicates a potential upside of 14.07% from the stock’s previous close.

Separately, StockNews.com raised Delek Logistics Partners from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th.

Delek Logistics Partners Price Performance

Shares of DKL stock opened at $39.45 on Wednesday. The stock’s fifty day simple moving average is $40.02 and its 200 day simple moving average is $40.39. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 14.24 and a beta of 2.12. Delek Logistics Partners has a one year low of $37.02 and a one year high of $53.80.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.06. The company had revenue of $264.63 million for the quarter, compared to analyst estimates of $257.17 million. Delek Logistics Partners had a negative return on equity of 115.32% and a net margin of 11.81%. During the same quarter in the previous year, the firm earned $0.73 earnings per share. On average, research analysts anticipate that Delek Logistics Partners will post 3.27 earnings per share for the current year.

Insiders Place Their Bets

In other Delek Logistics Partners news, CFO Reuven Spiegel purchased 3,885 shares of the stock in a transaction on Thursday, August 22nd. The stock was bought at an average cost of $38.98 per share, for a total transaction of $151,437.30. Following the completion of the acquisition, the chief financial officer now directly owns 20,163 shares of the company’s stock, valued at $785,953.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Sherri Anne Brillon purchased 2,000 shares of Delek Logistics Partners stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average cost of $39.00 per share, with a total value of $78,000.00. Following the completion of the transaction, the director now owns 11,433 shares of the company’s stock, valued at approximately $445,887. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Reuven Spiegel purchased 3,885 shares of Delek Logistics Partners stock in a transaction that occurred on Thursday, August 22nd. The shares were bought at an average cost of $38.98 per share, with a total value of $151,437.30. Following the completion of the transaction, the chief financial officer now directly owns 20,163 shares of the company’s stock, valued at approximately $785,953.74. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in Delek Logistics Partners by 205.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,482,686 shares of the oil and gas producer’s stock valued at $60,775,000 after purchasing an additional 997,860 shares during the last quarter. GSA Capital Partners LLP boosted its position in Delek Logistics Partners by 263.8% during the first quarter. GSA Capital Partners LLP now owns 37,535 shares of the oil and gas producer’s stock valued at $1,539,000 after purchasing an additional 27,217 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Delek Logistics Partners in the first quarter valued at approximately $12,656,000. B. Riley Wealth Advisors Inc. lifted its position in shares of Delek Logistics Partners by 31.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 13,412 shares of the oil and gas producer’s stock valued at $563,000 after buying an additional 3,215 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Delek Logistics Partners in the first quarter valued at approximately $66,000. 11.75% of the stock is owned by institutional investors and hedge funds.

About Delek Logistics Partners

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.