Bank of America Begins Coverage on Delek Logistics Partners (NYSE:DKL)

Analysts at Bank of America began coverage on shares of Delek Logistics Partners (NYSE:DKL) in a research note issued on Thursday, Marketbeat Ratings reports. The firm set an “underperform” rating and a $36.00 price target on the oil and gas producer’s stock. Bank of America‘s target price would suggest a potential downside of 6.66% from the stock’s previous close.

Several other equities research analysts also recently commented on DKL. Citigroup raised Delek Logistics Partners from a “neutral” rating to a “buy” rating and upped their target price for the company from $44.00 to $45.00 in a report on Wednesday, August 28th. StockNews.com downgraded Delek Logistics Partners from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Delek Logistics Partners Stock Down 0.7 %

Shares of NYSE DKL opened at $38.57 on Thursday. Delek Logistics Partners has a 12 month low of $37.02 and a 12 month high of $53.80. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 13.92 and a beta of 2.11. The business has a fifty day simple moving average of $41.13 and a 200-day simple moving average of $40.22.

Delek Logistics Partners (NYSE:DKL) last announced its earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 EPS for the quarter, beating the consensus estimate 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 business had revenue of $264.63 million during the quarter, compared to the consensus estimate of $257.17 million. During the same period in the prior year, the business posted $0.73 earnings per share. As a group, sell-side analysts expect that Delek Logistics Partners will post 3.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Reuven Spiegel bought 3,885 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 20,163 shares in the company, valued at approximately $785,953.74. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Sherri Anne Brillon bought 2,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were bought at an average cost of $39.00 per share, with a total value of $78,000.00. Following the transaction, the director now directly owns 11,433 shares in the company, valued at approximately $445,887. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Reuven Spiegel bought 3,885 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was purchased at an average cost of $38.98 per share, for a total transaction of $151,437.30. Following the completion of the transaction, the chief financial officer now 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 disclosure for this purchase can be found here. Insiders have bought a total of 12,934 shares of company stock valued at $504,348 in the last three months. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DKL. Mirae Asset Global Investments Co. Ltd. increased its position in Delek Logistics Partners by 205.8% in 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 during the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of 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 position in shares of Delek Logistics Partners during the 1st quarter valued at about $12,656,000. Kayne Anderson Capital Advisors LP acquired a new position in shares of Delek Logistics Partners during the 1st quarter valued at about $10,304,000. Finally, GSA Capital Partners LLP increased its holdings in shares of Delek Logistics Partners by 263.8% during the 1st quarter. GSA Capital Partners LLP now owns 37,535 shares of the oil and gas producer’s stock valued at $1,539,000 after acquiring an additional 27,217 shares during the last quarter. 11.75% of the stock is owned by institutional investors and hedge funds.

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.