Delek Logistics Partners (NYSE:DKL) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

Delek Logistics Partners, LP (NYSE:DKL) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $40.65 and traded as high as $45.47. Delek Logistics Partners shares last traded at $45.25, with a volume of 102,273 shares traded.

Analysts Set New Price Targets

Several research analysts have 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. Truist Financial upped their price target on Delek Logistics Partners from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, Bank of America initiated coverage on shares of Delek Logistics Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $36.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $44.00.

Delek Logistics Partners Price Performance

The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 1.43 and a beta of 2.10. The stock has a 50-day moving average price of $40.89 and a 200-day moving average price of $40.69.

Delek Logistics Partners (NYSE:DKL) last posted its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share (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 company had revenue of $214.07 million for the quarter, compared to analyst estimates of $270.98 million. During the same quarter in the prior year, the business posted $0.80 EPS. Equities analysts forecast that Delek Logistics Partners, LP will post 3.05 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 9.94%. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s payout ratio is presently 156.03%.

Insider Buying and Selling

In related news, Chairman Ezra Uzi Yemin purchased 3,750 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were bought at an average price of $39.95 per share, for a total transaction of $149,812.50. Following the completion of the transaction, the chairman now owns 162,217 shares of the company’s stock, valued at approximately $6,480,569.15. This trade represents a 2.37 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Over the last three months, insiders have acquired 4,835 shares of company stock valued at $192,184. 1.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Delek Logistics Partners

A number of institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC bought a new position in shares of Delek Logistics Partners during the third quarter valued at $49,000. Future Financial Wealth Managment LLC bought a new position in Delek Logistics Partners during the 3rd quarter worth $70,000. Sittner & Nelson LLC bought a new position in Delek Logistics Partners during the 3rd quarter worth $109,000. Millburn Ridgefield Corp acquired a new position in Delek Logistics Partners during the 3rd quarter worth about $131,000. Finally, Exchange Traded Concepts LLC grew its position in shares of Delek Logistics Partners by 24.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 18,250 shares of the oil and gas producer’s stock valued at $771,000 after buying an additional 3,600 shares during the last quarter. 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.