Delek Logistics Partners (NYSE:DKL) Shares Gap Down – Time to Sell?

Delek Logistics Partners, LP (NYSE:DKL)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $44.67, but opened at $39.72. Delek Logistics Partners shares last traded at $39.22, with a volume of 523,822 shares traded.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. StockNews.com cut Delek Logistics Partners from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. Citigroup raised Delek Logistics Partners from a “neutral” rating to a “buy” rating and increased their price target for the company from $44.00 to $45.00 in a research report on Wednesday, August 28th.

Delek Logistics Partners Stock Performance

The company’s 50-day moving average price is $41.24 and its 200-day moving average price is $40.29. The firm has a market capitalization of $1.85 billion, a PE ratio of 13.47 and a beta of 2.11.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.06. Delek Logistics Partners had a negative return on equity of 147.45% and a net margin of 12.48%. The company had revenue of $264.63 million during the quarter, compared to the consensus estimate of $257.17 million. During the same period in the previous year, the business earned $0.73 EPS. As a group, analysts anticipate that Delek Logistics Partners, LP will post 3.41 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 9th were paid a $1.09 dividend. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.36 annualized dividend and a yield of 11.12%. The ex-dividend date of this dividend was Friday, August 9th. Delek Logistics Partners’s dividend payout ratio is currently 149.83%.

Insiders Place Their Bets

In related news, CFO Reuven Spiegel purchased 3,885 shares of Delek Logistics Partners stock in a transaction that occurred on Thursday, August 22nd. The stock was purchased 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 in the company, valued at approximately $785,953.74. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Reuven Spiegel purchased 3,885 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were bought at an average price 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 in the company, valued at approximately $785,953.74. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sherri Anne Brillon acquired 2,000 shares of Delek Logistics Partners stock in a transaction on Monday, August 19th. The stock was purchased at an average price of $39.00 per share, with a total value of $78,000.00. Following the purchase, the director now owns 11,433 shares of the company’s stock, valued at $445,887. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Delek Logistics Partners

A number of large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Delek Logistics Partners by 205.8% in 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 buying an additional 997,860 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in Delek Logistics Partners by 4,182.7% during 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 last quarter. Westwood Holdings Group Inc. acquired a new stake in Delek Logistics Partners during the 1st quarter worth approximately $12,656,000. Kayne Anderson Capital Advisors LP purchased a new position in shares of Delek Logistics Partners in the 1st quarter valued at approximately $10,304,000. Finally, GSA Capital Partners LLP increased its holdings 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 valued at $1,539,000 after purchasing an additional 27,217 shares during the period. Institutional investors and hedge funds 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.