Delek Logistics Partners (DKL) Lowered to “Sell” at Zacks Investment Research

Delek Logistics Partners (NYSE:DKL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.

According to Zacks, “Delek Logistics Partners, LP owns, operates, acquires and constructs crude oil and refined products logistics and marketing assets. The company operates crude oil transportation pipelines, refined product pipelines, crude oil gathering system, and associated crude oil storage tanks. It also provides marketing services for refined products other than jet fuel and petroleum coke; and light products, operates light product terminals in Texas and Tennessee and offers terminalling services to independent third parties. Delek Logistics Partners, LP is headquartered in Brentwood, Tennessee. “

DKL has been the topic of a number of other reports. Credit Suisse Group started coverage on shares of Delek Logistics Partners in a research report on Thursday, October 11th. They issued an “underperform” rating and a $31.00 price objective on the stock. ValuEngine upgraded Delek Logistics Partners from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 8th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Delek Logistics Partners currently has an average rating of “Sell” and a consensus price target of $33.67.

Shares of DKL opened at $30.61 on Wednesday. Delek Logistics Partners has a twelve month low of $26.50 and a twelve month high of $35.50. The firm has a market capitalization of $772.40 million, a PE ratio of 14.65 and a beta of 1.18. The company has a current ratio of 2.37, a quick ratio of 1.77 and a debt-to-equity ratio of -5.72.

Delek Logistics Partners (NYSE:DKL) last announced its earnings results on Tuesday, August 7th. The oil and gas producer reported $0.79 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.01). Delek Logistics Partners had a net margin of 13.22% and a negative return on equity of 103.52%. The firm had revenue of $166.28 million during the quarter, compared to analysts’ expectations of $189.86 million. On average, equities research analysts predict that Delek Logistics Partners will post 2.97 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP purchased a new stake in Delek Logistics Partners in the third quarter worth $7,137,000. Biglari Capital CORP. purchased a new position in Delek Logistics Partners in the 2nd quarter worth about $2,876,000. Renaissance Technologies LLC purchased a new position in Delek Logistics Partners in the 2nd quarter worth about $843,000. Bank of Montreal Can purchased a new position in Delek Logistics Partners in the 3rd quarter worth about $670,000. Finally, Guggenheim Capital LLC increased its stake in Delek Logistics Partners by 33.6% in the 1st quarter. Guggenheim Capital LLC now owns 16,298 shares of the oil and gas producer’s stock worth $462,000 after buying an additional 4,098 shares during the period. Institutional investors and hedge funds own 22.67% of the company’s stock.

Delek Logistics Partners Company Profile

Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products in the United States. It operates in two segments, Pipelines and Transportation, and Wholesale Marketing and Terminalling. The Pipelines and Transportation segment consists of assets, including pipelines and trucks, and ancillary assets that provide crude oil gathering and crude oil, intermediate and finished products transportation, and storage services primarily in support of the Tyler and El Dorado refineries, as well as offers crude oil and other products transportation services to third parties.

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