Truist Financial Issues Positive Forecast for Delek Logistics Partners (NYSE:DKL) Stock Price

Delek Logistics Partners (NYSE:DKL) had its price objective raised by investment analysts at Truist Financial from $46.00 to $50.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price objective points to a potential upside of 26.71% from the company’s current price.

Other analysts have also issued research reports about the stock. Bank of America started coverage on shares of Delek Logistics Partners in a research note on Thursday, October 17th. They issued an “underperform” rating and a $36.00 price objective for the company. Citigroup upgraded shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $44.00 to $45.00 in a research note on Wednesday, August 28th. Finally, StockNews.com lowered shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $44.00.

Delek Logistics Partners Stock Up 1.2 %

NYSE:DKL opened at $39.46 on Monday. The company has a fifty day moving average of $40.74 and a 200-day moving average of $40.20. The firm has a market capitalization of $2.03 billion, a P/E ratio of 13.91, a P/E/G ratio of 1.12 and a beta of 2.12. Delek Logistics Partners has a twelve month low of $37.02 and a twelve month high of $53.80.

Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.19). The company had revenue of $214.07 million during the quarter, compared to the consensus estimate of $270.98 million. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. During the same quarter in the prior year, the firm earned $0.80 EPS. On average, analysts anticipate that Delek Logistics Partners will post 3.08 EPS for the current fiscal year.

Insider Buying and Selling at Delek Logistics Partners

In other news, CFO Reuven Spiegel bought 1,282 shares of Delek Logistics Partners stock in a transaction dated Thursday, October 10th. The stock was purchased at an average price of $39.00 per share, for a total transaction of $49,998.00. Following the purchase, the chief financial officer now directly owns 20,223 shares in the company, valued at $788,697. The trade was a 6.77 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Avigal Soreq bought 2,563 shares of Delek Logistics Partners stock in a transaction dated Thursday, October 10th. The stock was purchased at an average price of $39.00 per share, with a total value of $99,957.00. Following the purchase, the president now owns 46,758 shares in the company, valued at approximately $1,823,562. This represents a 5.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 11,644 shares of company stock worth $453,840. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Delek Logistics Partners

Institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC bought a new stake in shares of Delek Logistics Partners in the 3rd quarter worth $49,000. Future Financial Wealth Managment LLC purchased a new position in shares of Delek Logistics Partners in the 3rd quarter worth about $70,000. Sittner & Nelson LLC purchased a new position in shares of Delek Logistics Partners in the 3rd quarter worth about $109,000. Millburn Ridgefield Corp purchased a new position in shares of Delek Logistics Partners in the 3rd quarter worth about $131,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Delek Logistics Partners by 76.0% in the 2nd quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock worth $135,000 after buying an additional 1,437 shares during the last quarter. Institutional investors own 11.75% of the company’s stock.

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.