Delek Logistics Partners, LP (NYSE:DKL) Short Interest Update

Delek Logistics Partners, LP (NYSE:DKL) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 910,700 shares, a growth of 6.1% from the November 30th total of 858,000 shares. Approximately 5.6% of the company’s shares are short sold. Based on an average daily volume of 204,900 shares, the days-to-cover ratio is currently 4.4 days.

Insider Activity at Delek Logistics Partners

In other news, Chairman Ezra Uzi Yemin purchased 3,750 shares of Delek Logistics Partners stock in a transaction dated Monday, December 16th. The shares were bought at an average cost of $39.95 per share, with a total value of $149,812.50. Following the completion of the transaction, the chairman now directly owns 162,217 shares in the company, valued at $6,480,569.15. This trade represents a 2.37 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Reuven Spiegel acquired 1,282 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was purchased at an average price of $39.00 per share, with a total value of $49,998.00. Following the transaction, the chief financial officer now owns 20,223 shares in the company, valued at $788,697. This represents a 6.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 11,884 shares of company stock worth $467,095. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Delek Logistics Partners

Several hedge funds have recently modified their holdings of DKL. Farther Finance Advisors LLC acquired a new position in Delek Logistics Partners during the third quarter valued at approximately $49,000. Van ECK Associates Corp boosted its holdings in shares of Delek Logistics Partners by 76.0% in the 2nd quarter. Van ECK Associates Corp now owns 3,329 shares of the oil and gas producer’s stock valued at $135,000 after buying an additional 1,437 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Delek Logistics Partners in the third quarter valued at $70,000. Sittner & Nelson LLC bought a new position in shares of Delek Logistics Partners in the third quarter valued at $109,000. Finally, Millburn Ridgefield Corp bought a new stake in Delek Logistics Partners during the third quarter worth $131,000. Institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Stock Performance

NYSE DKL opened at $42.26 on Thursday. Delek Logistics Partners has a 52 week low of $37.02 and a 52 week high of $47.67. The stock’s 50 day moving average price is $39.63 and its two-hundred day moving average price is $40.36. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.13 and a beta of 2.12.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.19). Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. The business had revenue of $214.07 million during the quarter, compared to the consensus estimate of $270.98 million. During the same period in the prior year, the firm earned $0.80 EPS. On average, equities research analysts forecast that Delek Logistics Partners will post 3.05 EPS for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were paid a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 10.41%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date was Friday, November 8th. Delek Logistics Partners’s dividend payout ratio is currently 156.03%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com lowered Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Bank of America assumed coverage on shares of Delek Logistics Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $36.00 price target for the company. Finally, Truist Financial raised their price objective on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the stock 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 given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $44.00.

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.