Delek Logistics Partners (NYSE:DKL) Stock Price Expected to Rise, Raymond James Analyst Says

Delek Logistics Partners (NYSE:DKL) had its target price lifted by research analysts at Raymond James from $44.00 to $46.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the oil and gas producer’s stock. Raymond James’ price target would indicate a potential upside of 5.92% from the stock’s current price.

Other analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Bank of America began coverage on shares of Delek Logistics Partners in a research report on Thursday, October 17th. They set an “underperform” rating and a $36.00 price objective for the company. Finally, Truist Financial lifted their target price on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.25.

Delek Logistics Partners Trading Down 0.1 %

Delek Logistics Partners stock traded down $0.06 during midday trading on Tuesday, hitting $43.43. 18,862 shares of the stock were exchanged, compared to its average volume of 102,998. Delek Logistics Partners has a fifty-two week low of $37.02 and a fifty-two week high of $47.67. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 1.40 and a beta of 2.10. The stock’s 50-day simple moving average is $41.22 and its 200 day simple moving average is $40.77.

Delek Logistics Partners (NYSE:DKL) last posted 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). Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. The business had revenue of $214.07 million during the quarter, compared to analysts’ expectations of $270.98 million. During the same period in the previous year, the business posted $0.80 EPS. Equities analysts anticipate that Delek Logistics Partners will post 3.05 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DKL. Strategic Financial Concepts LLC increased its position in Delek Logistics Partners by 3,838.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 476,439 shares of the oil and gas producer’s stock worth $20,134,000 after purchasing an additional 464,343 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Delek Logistics Partners during the fourth quarter worth $1,690,000. Exchange Traded Concepts LLC lifted its stake in Delek Logistics Partners by 24.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 18,250 shares of the oil and gas producer’s stock worth $771,000 after purchasing an additional 3,600 shares during the last quarter. Adams Asset Advisors LLC acquired a new stake in Delek Logistics Partners in the fourth quarter worth $2,544,000. Finally, JPMorgan Chase & Co. increased its position 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 worth $10,678,000 after buying an additional 31,654 shares during the period. Institutional investors and hedge funds 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.