Delek Logistics Partners (NYSE:DKL) Coverage Initiated by Analysts at Bank of America

Research analysts at Bank of America initiated coverage on shares of Delek Logistics Partners (NYSE:DKL) in a note issued to investors on Thursday, Briefing.com reports. The brokerage set an “underperform” rating and a $36.00 price target on the oil and gas producer’s stock. Bank of America‘s price target would indicate a potential downside of 8.16% from the company’s current price.

Other analysts have also recently issued research reports about the company. StockNews.com cut Delek Logistics Partners from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. Citigroup raised 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 report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Delek Logistics Partners currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Delek Logistics Partners Stock Performance

Shares of DKL opened at $39.20 on Thursday. The stock’s 50-day simple moving average is $41.16 and its 200 day simple moving average is $40.24. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 14.15 and a beta of 2.11. 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 released 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. Delek Logistics Partners had a negative return on equity of 147.45% and a net margin of 12.48%. The firm had revenue of $264.63 million for the quarter, compared to analysts’ expectations of $257.17 million. During the same quarter last year, the firm posted $0.73 EPS. On average, research analysts forecast that Delek Logistics Partners will post 3.41 earnings per share for the current fiscal year.

Insider Activity at Delek Logistics Partners

In other news, CFO Reuven Spiegel acquired 3,885 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were 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 in the company, valued at approximately $785,953.74. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Reuven Spiegel acquired 3,885 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were 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 in the company, valued at approximately $785,953.74. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph Israel purchased 3,076 shares of Delek Logistics Partners stock in a transaction that occurred on Thursday, October 10th. The shares were bought at an average price of $39.00 per share, for a total transaction of $119,964.00. Following the completion of the transaction, the executive vice president now owns 13,782 shares in the company, valued at $537,498. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 12,934 shares of company stock valued at $504,348. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Delek Logistics Partners

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp grew its position in 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 acquiring an additional 1,437 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Delek Logistics Partners during the third quarter valued at approximately $70,000. B. Riley Wealth Advisors Inc. boosted its position in shares of Delek Logistics Partners by 31.5% during 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 in the last quarter. HB Wealth Management LLC bought a new stake in shares of Delek Logistics Partners during the second quarter valued at approximately $203,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Delek Logistics Partners during the second quarter valued at approximately $456,000. 11.75% of the stock is currently owned by 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.