Delek Logistics Partners (NYSE:DKL) Downgraded by StockNews.com to Buy

Delek Logistics Partners (NYSE:DKL) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.

Separately, Citigroup raised shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and lifted their target price for the company from $44.00 to $45.00 in a report on Wednesday, August 28th.

Delek Logistics Partners Stock Performance

Shares of DKL stock traded down $0.41 during mid-day trading on Tuesday, hitting $43.46. 27,825 shares of the stock were exchanged, compared to its average volume of 88,415. The stock’s fifty day simple moving average is $40.76 and its two-hundred day simple moving average is $40.04. Delek Logistics Partners has a 12-month low of $37.02 and a 12-month high of $53.80. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 15.69 and a beta of 2.11.

Delek Logistics Partners (NYSE:DKL) last announced its earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.06. The firm had revenue of $264.63 million during the quarter, compared to analysts’ expectations of $257.17 million. Delek Logistics Partners had a negative return on equity of 147.45% and a net margin of 12.48%. During the same period in the prior year, the firm earned $0.73 EPS. On average, research analysts expect that Delek Logistics Partners will post 3.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Reuven Spiegel acquired 3,885 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average cost of $38.98 per share, for a total transaction 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. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Delek Logistics Partners news, Director Sherri Anne Brillon bought 2,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was acquired at an average cost of $39.00 per share, with a total value of $78,000.00. Following the purchase, the director now owns 11,433 shares in the company, valued at approximately $445,887. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Reuven Spiegel purchased 3,885 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was acquired at an average price of $38.98 per share, for a total transaction of $151,437.30. Following the completion of the purchase, the chief financial officer now owns 20,163 shares of the company’s stock, valued at $785,953.74. The disclosure for this purchase can be found here. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DKL. Future Financial Wealth Managment LLC acquired a new stake in shares of Delek Logistics Partners during the 1st quarter valued at approximately $66,000. Van ECK Associates Corp boosted 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 worth $135,000 after purchasing an additional 1,437 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in Delek Logistics Partners by 4,182.7% in the second quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock valued at $201,000 after purchasing an additional 484,571 shares during the last quarter. HB Wealth Management LLC purchased a new position in shares of Delek Logistics Partners in the second quarter valued at $203,000. Finally, Focus Financial Network Inc. ADV acquired a new position in shares of Delek Logistics Partners during the 4th quarter worth $408,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

About Delek Logistics Partners

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.