Delek Logistics Partners, LP (NYSE:DKL) President Acquires $14,880.00 in Stock

Delek Logistics Partners, LP (NYSE:DKL) President Avigal Soreq purchased 375 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average price of $39.68 per share, for a total transaction of $14,880.00. Following the completion of the acquisition, the president now owns 45,537 shares of the company’s stock, valued at $1,806,908.16. The trade was a 0.83 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Avigal Soreq also recently made the following trade(s):

• On Thursday, October 10th, Avigal Soreq bought 2,563 shares of Delek Logistics Partners stock. The shares were purchased at an average cost of $39.00 per share, for a total transaction of $99,957.00.

Delek Logistics Partners Price Performance

Shares of DKL opened at $39.93 on Wednesday. The firm has a market cap of $2.06 billion, a PE ratio of 14.16, a PEG ratio of 1.13 and a beta of 2.12. Delek Logistics Partners, LP has a 1 year low of $37.02 and a 1 year high of $47.67. The stock’s fifty day moving average price is $39.21 and its two-hundred day moving average price is $40.24.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.19). The business had revenue of $214.07 million for the quarter, compared to analysts’ expectations 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 previous year, the company posted $0.80 earnings per share. Sell-side analysts anticipate that Delek Logistics Partners, LP will post 3.05 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 11.02%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date was Friday, November 8th. Delek Logistics Partners’s dividend payout ratio is presently 156.03%.

Hedge Funds Weigh In On Delek Logistics Partners

Hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC purchased a new stake in shares of Delek Logistics Partners in the third quarter worth $49,000. Van ECK Associates Corp lifted its position in Delek Logistics Partners by 76.0% during the second quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock valued at $135,000 after purchasing an additional 1,437 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in Delek Logistics Partners in the 3rd quarter worth approximately $70,000. Sittner & Nelson LLC bought a new position in shares of Delek Logistics Partners in the 3rd quarter worth $109,000. Finally, Millburn Ridgefield Corp purchased a new stake in shares of Delek Logistics Partners during the 3rd quarter valued at $131,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. 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 “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America assumed coverage on Delek Logistics Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $36.00 target price on the stock. Finally, Truist Financial boosted their price target on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $44.00.

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.