Delek Logistics Partners, LP (NYSE:DKL) Sees Large Increase in Short Interest

Delek Logistics Partners, LP (NYSE:DKL) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 910,700 shares, an increase of 6.1% from the November 30th total of 858,000 shares. Currently, 5.6% of the shares of the stock are sold short. Based on an average daily volume of 204,900 shares, the short-interest ratio is presently 4.4 days.

Insider Buying and Selling at Delek Logistics Partners

In related news, Chairman Ezra Uzi Yemin purchased 710 shares of Delek Logistics Partners stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average price of $38.72 per share, for a total transaction of $27,491.20. Following the transaction, the chairman now directly owns 54,851 shares in the company, valued at approximately $2,123,830.72. This trade represents a 1.31 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 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, for a total transaction of $49,998.00. Following the completion of the acquisition, the chief financial officer now owns 20,223 shares in the company, valued at $788,697. The trade was a 6.77 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 11,884 shares of company stock valued at $467,095. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Delek Logistics Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its stake in Delek Logistics Partners by 76.0% during 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 period. Strategic Financial Concepts LLC increased its stake in Delek Logistics Partners by 4,182.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock worth $201,000 after buying an additional 484,571 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Delek Logistics Partners during the 2nd quarter worth approximately $456,000. Sanctuary Advisors LLC purchased a new position in Delek Logistics Partners in the 2nd quarter valued at approximately $522,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Delek Logistics Partners in the third quarter worth $70,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

Delek Logistics Partners Stock Up 2.9 %

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 fifty day moving average is $39.63 and its two-hundred day moving average is $40.36. The company has a market capitalization of $2.17 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.13 and a beta of 2.12.

Delek Logistics Partners (NYSE:DKL) last issued its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.19). The company had revenue of $214.07 million during the quarter, compared to analysts’ expectations of $270.98 million. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. During the same quarter last year, the firm posted $0.80 earnings per share. Sell-side analysts anticipate that Delek Logistics Partners will post 3.05 earnings per share for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 8th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 10.41%. The ex-dividend date was Friday, November 8th. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s dividend payout ratio (DPR) is 156.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DKL shares. Truist Financial upped their target price 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. Bank of America began coverage on shares of Delek Logistics Partners in a report on Thursday, October 17th. They issued an “underperform” rating and a $36.00 price objective for the company. Finally, StockNews.com lowered Delek Logistics Partners from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Delek Logistics Partners currently has an average rating of “Hold” and a consensus target price of $44.00.

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.