Delek Logistics Partners (NYSE:DKL) Raised to “Buy” at Citigroup

Delek Logistics Partners (NYSE:DKL) was upgraded by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm currently has a $45.00 price objective on the oil and gas producer’s stock, up from their previous price objective of $44.00. Citigroup’s price target indicates a potential upside of 15.89% from the company’s current price.

Separately, StockNews.com upgraded Delek Logistics Partners from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th.

Delek Logistics Partners Stock Performance

Shares of Delek Logistics Partners stock opened at $38.83 on Wednesday. The company has a 50-day simple moving average of $40.03 and a two-hundred day simple moving average of $40.41. The stock has a market capitalization of $1.83 billion, a PE ratio of 14.02 and a beta of 2.12. Delek Logistics Partners has a 52-week low of $37.02 and a 52-week high of $53.80.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.06. The company had revenue of $264.63 million during the quarter, compared to the consensus estimate of $257.17 million. Delek Logistics Partners had a net margin of 11.81% and a negative return on equity of 115.32%. During the same quarter last year, the firm earned $0.73 earnings per share. As a group, equities research analysts forecast that Delek Logistics Partners will post 3.27 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Delek Logistics Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DKL. Future Financial Wealth Managment LLC bought a new position in Delek Logistics Partners in the 1st quarter worth approximately $66,000. Van ECK Associates Corp increased its position in Delek Logistics Partners by 76.0% in 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 during the last quarter. HB Wealth Management LLC bought a new position in Delek Logistics Partners during the second quarter valued at $203,000. Thoroughbred Financial Services LLC lifted its holdings in shares of Delek Logistics Partners by 9.6% in the 4th quarter. Thoroughbred Financial Services LLC now owns 7,379 shares of the oil and gas producer’s stock valued at $318,000 after acquiring an additional 648 shares during the last quarter. Finally, Focus Financial Network Inc. ADV bought a new stake in Delek Logistics Partners during the fourth quarter worth approximately $408,000. 11.75% of the stock is owned by hedge funds and other institutional investors.

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.