Delek Logistics Partners (NYSE:DKL) Shares Gap Down – Time to Sell?

Delek Logistics Partners, LP (NYSE:DKL) shares gapped down before the market opened on Wednesday . The stock had previously closed at $44.67, but opened at $39.72. Delek Logistics Partners shares last traded at $39.22, with a volume of 523,822 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup upgraded shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $44.00 to $45.00 in a research note on Wednesday, August 28th. StockNews.com downgraded Delek Logistics Partners from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th.

Delek Logistics Partners Trading Down 0.4 %

The company has a market cap of $1.85 billion, a price-to-earnings ratio of 13.47 and a beta of 2.11. The business has a fifty day moving average of $41.24 and a two-hundred day moving average of $40.29.

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

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 9th were given a dividend of $1.09 per share. This represents a $4.36 annualized dividend and a dividend yield of 11.12%. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date was Friday, August 9th. Delek Logistics Partners’s payout ratio is presently 149.83%.

Insider Activity at Delek Logistics Partners

In other Delek Logistics Partners news, Director Sherri Anne Brillon bought 2,000 shares of the stock in a transaction on Monday, August 19th. The shares were bought at an average price of $39.00 per share, with a total value of $78,000.00. Following the purchase, the director now directly owns 11,433 shares in the company, valued at $445,887. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Sherri Anne Brillon purchased 2,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was acquired at an average cost of $39.00 per share, for a total transaction of $78,000.00. Following the completion of the transaction, the director now directly owns 11,433 shares of the company’s stock, valued at approximately $445,887. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Reuven Spiegel purchased 3,885 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was bought at an average cost of $38.98 per share, with a total value of $151,437.30. Following the acquisition, the chief financial officer now owns 20,163 shares of the company’s stock, valued at approximately $785,953.74. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Delek Logistics Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp increased its holdings in shares of Delek Logistics Partners by 76.0% during the 2nd quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock worth $135,000 after buying an additional 1,437 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Delek Logistics Partners during the third quarter worth $70,000. B. Riley Wealth Advisors Inc. raised its position in Delek Logistics Partners by 31.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 13,412 shares of the oil and gas producer’s stock valued at $563,000 after purchasing an additional 3,215 shares during the period. HB Wealth Management LLC acquired a new position in shares of Delek Logistics Partners in the 2nd quarter valued at $203,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Delek Logistics Partners during the 2nd quarter worth $456,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

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.