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

Delek Logistics Partners (NYSE:DKL) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

Separately, Citigroup raised shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and raised their price target for the stock from $44.00 to $45.00 in a research note on Wednesday, August 28th.

Delek Logistics Partners Stock Performance

DKL stock traded down $0.41 on Tuesday, reaching $43.46. The company had a trading volume of 27,825 shares, compared to its average volume of 88,415. The company’s fifty day moving average is $40.76 and its 200 day moving average is $40.04. The company has a market cap of $2.05 billion, a P/E ratio of 15.69 and a beta of 2.11. Delek Logistics Partners has a 1 year low of $37.02 and a 1 year high of $53.80.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.06. The business had revenue of $264.63 million for the quarter, compared to the consensus estimate of $257.17 million. Delek Logistics Partners had a negative return on equity of 147.45% and a net margin of 12.48%. During the same period in the prior year, the business earned $0.73 earnings per share. On average, sell-side analysts predict that Delek Logistics Partners will post 3.41 earnings per share for the current year.

Insider Activity at Delek Logistics Partners

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

Hedge Funds Weigh In On Delek Logistics Partners

A number of large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in Delek Logistics Partners by 205.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,482,686 shares of the oil and gas producer’s stock worth $60,775,000 after purchasing an additional 997,860 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of Delek Logistics Partners by 263.8% in the first quarter. GSA Capital Partners LLP now owns 37,535 shares of the oil and gas producer’s stock worth $1,539,000 after acquiring an additional 27,217 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Delek Logistics Partners in the first quarter worth $12,656,000. Strategic Financial Concepts LLC raised its stake in shares of Delek Logistics Partners by 4,182.7% in the 2nd 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 during the period. Finally, IFG Advisory LLC purchased a new stake in Delek Logistics Partners during the 2nd quarter worth $640,000. 11.75% of the stock is currently owned by hedge funds and other 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.