Westwood Holdings Group Inc. Sells 45,259 Shares of Delek Logistics Partners, LP (NYSE:DKL)

Westwood Holdings Group Inc. reduced its holdings in shares of Delek Logistics Partners, LP (NYSE:DKL) by 14.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 263,495 shares of the oil and gas producer’s stock after selling 45,259 shares during the quarter. Westwood Holdings Group Inc. owned approximately 0.56% of Delek Logistics Partners worth $10,666,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Delek Logistics Partners by 205.8% during the first 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 boosted its stake 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 worth $201,000 after buying an additional 484,571 shares during the last quarter. Kayne Anderson Capital Advisors LP bought a new position in shares of Delek Logistics Partners in the 1st quarter valued at about $10,304,000. GSA Capital Partners LLP increased its position 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 acquiring an additional 27,217 shares during the last quarter. Finally, IFG Advisory LLC bought a new stake in Delek Logistics Partners during the second quarter worth about $640,000. 11.75% of the stock is owned by institutional investors.

Delek Logistics Partners Stock Performance

Shares of NYSE:DKL opened at $43.18 on Friday. The company has a 50-day simple moving average of $40.66 and a 200 day simple moving average of $40.05. The company has a market capitalization of $2.04 billion, a P/E ratio of 15.59 and a beta of 2.11. Delek Logistics Partners, LP has a 52-week low of $37.02 and a 52-week high of $53.80.

Delek Logistics Partners (NYSE:DKL) last posted its earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share 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 business had revenue of $264.63 million for the quarter, compared to analyst estimates of $257.17 million. During the same period in the previous year, the firm earned $0.73 EPS. As a group, equities analysts forecast 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 announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 9th were paid a dividend of $1.09 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 10.10%. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 157.40%.

Insider Buying and Selling

In other news, Director Sherri Anne Brillon acquired 2,000 shares of Delek Logistics Partners stock in a transaction dated Monday, August 19th. The stock was bought at an average price of $39.00 per share, for a total transaction of $78,000.00. Following the completion of the acquisition, the director now directly owns 11,433 shares in the company, valued at approximately $445,887. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Sherri Anne Brillon bought 2,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was bought at an average price of $39.00 per share, with a total value of $78,000.00. Following the completion of the acquisition, the director now owns 11,433 shares of the company’s stock, valued at $445,887. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Reuven Spiegel bought 3,885 shares of Delek Logistics Partners stock in a transaction dated Thursday, August 22nd. The stock was acquired 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 owns 20,163 shares of the company’s stock, valued at approximately $785,953.74. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Citigroup upgraded Delek Logistics Partners from a “neutral” rating to a “buy” rating and raised their price target for the company from $44.00 to $45.00 in a research note on Wednesday, August 28th. StockNews.com raised Delek Logistics Partners from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th.

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.