Adams Asset Advisors LLC Acquires New Holdings in Delek Logistics Partners, LP (NYSE:DKL)

Adams Asset Advisors LLC bought a new position in Delek Logistics Partners, LP (NYSE:DKL) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 60,187 shares of the oil and gas producer’s stock, valued at approximately $2,544,000. Adams Asset Advisors LLC owned approximately 0.12% of Delek Logistics Partners at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DKL. Infrastructure Capital Advisors LLC boosted its position in shares of Delek Logistics Partners by 18.6% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 252,863 shares of the oil and gas producer’s stock valued at $11,055,000 after acquiring an additional 39,577 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Delek Logistics Partners by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 244,243 shares of the oil and gas producer’s stock valued at $10,678,000 after acquiring an additional 31,654 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Delek Logistics Partners during the second quarter worth about $522,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Delek Logistics Partners during the 2nd quarter valued at about $456,000. Finally, Indie Asset Partners LLC purchased a new position in shares of Delek Logistics Partners during the 3rd quarter valued at about $306,000. Institutional investors own 11.75% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, Chairman Ezra Uzi Yemin acquired 3,750 shares of Delek Logistics Partners stock in a transaction on Monday, December 16th. The stock was acquired at an average cost of $39.95 per share, for a total transaction of $149,812.50. Following the purchase, the chairman now owns 162,217 shares in the company, valued at $6,480,569.15. This trade represents a 2.37 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired 4,835 shares of company stock valued at $192,184 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

Delek Logistics Partners Price Performance

NYSE:DKL traded up $0.36 during mid-day trading on Monday, reaching $42.56. 52,305 shares of the company’s stock traded hands, compared to its average volume of 98,247. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 1.15 and a beta of 2.10. Delek Logistics Partners, LP has a 12-month low of $37.02 and a 12-month high of $47.67. The company has a 50 day moving average price of $40.12 and a 200-day moving average price of $40.49.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.71 EPS 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 negative return on equity of 155.77% and a net margin of 13.15%. During the same quarter last year, the company posted $0.80 earnings per share. As a group, analysts forecast that Delek Logistics Partners, LP will post 3.05 EPS for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were given a $1.10 dividend. The ex-dividend date was Friday, November 8th. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. This represents a $4.40 dividend on an annualized basis and a dividend yield of 10.34%. Delek Logistics Partners’s dividend payout ratio is currently 156.03%.

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.