BNP Paribas Financial Markets Sells 6,094 Shares of Delek Logistics Partners, LP (NYSE:DKL)

BNP Paribas Financial Markets lessened its holdings in shares of Delek Logistics Partners, LP (NYSE:DKL) by 49.5% in the third quarter, Holdings Channel.com reports. The firm owned 6,211 shares of the oil and gas producer’s stock after selling 6,094 shares during the period. BNP Paribas Financial Markets’ holdings in Delek Logistics Partners were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of DKL. Farther Finance Advisors LLC bought a new position in Delek Logistics Partners in the 3rd quarter worth approximately $49,000. Future Financial Wealth Managment LLC bought a new position in shares of Delek Logistics Partners in the third quarter worth $70,000. Sittner & Nelson LLC purchased a new position in shares of Delek Logistics Partners in the third quarter valued at $109,000. Van ECK Associates Corp raised its stake in shares of 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 valued at $135,000 after purchasing an additional 1,437 shares during the period. Finally, Strategic Financial Concepts LLC raised its stake in shares of 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 valued at $201,000 after purchasing an additional 484,571 shares during the period. Hedge funds and other institutional investors own 11.75% of the company’s stock.

Insider Buying and Selling at Delek Logistics Partners

In other Delek Logistics Partners news, CFO Reuven Spiegel purchased 1,282 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was bought at an average price of $39.00 per share, with a total value of $49,998.00. Following the completion of the purchase, the chief financial officer now directly owns 20,223 shares of the company’s stock, valued at $788,697. The trade was a 6.77 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Avigal Soreq purchased 2,563 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was bought at an average price of $39.00 per share, for a total transaction of $99,957.00. Following the acquisition, the president now owns 46,758 shares of the company’s stock, valued at $1,823,562. This represents a 5.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 7,759 shares of company stock worth $302,402. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DKL has been the subject of a number of recent analyst reports. Truist Financial lifted their target price on Delek Logistics Partners from $46.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 18th. Citigroup raised shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.00 to $45.00 in a report on Wednesday, August 28th. 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, StockNews.com cut shares of Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $44.00.

Delek Logistics Partners Stock Up 1.7 %

NYSE DKL opened at $39.86 on Monday. The company has a 50-day simple moving average of $39.40 and a two-hundred day simple moving average of $40.23. Delek Logistics Partners, LP has a 12-month low of $37.02 and a 12-month high of $48.91. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.13 and a beta of 2.12.

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

Delek Logistics Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 11.04%. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $0.73. Delek Logistics Partners’s dividend payout ratio (DPR) is 156.03%.

Delek Logistics Partners 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.