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

Delek Logistics Partners, LP (NYSE:DKL) was the recipient of 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. Based on an average daily volume of 204,900 shares, the short-interest ratio is presently 4.4 days. Approximately 5.6% of the shares of the stock are short sold.

Insiders Place Their Bets

In related news, CFO Reuven Spiegel acquired 1,282 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was purchased at an average cost of $39.00 per share, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Ezra Uzi Yemin acquired 3,750 shares of the business’s stock in a transaction on 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 acquisition, 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 position. The disclosure for this purchase can be found here. Insiders acquired a total of 11,884 shares of company stock worth $467,095 over the last quarter. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Delek Logistics Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DKL. JPMorgan Chase & Co. lifted its position in Delek Logistics Partners by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 244,243 shares of the oil and gas producer’s stock valued at $10,678,000 after purchasing an additional 31,654 shares during the period. Stifel Financial Corp bought a new stake in shares of Delek Logistics Partners during the third quarter worth approximately $206,000. Millburn Ridgefield Corp acquired a new position in Delek Logistics Partners in the third quarter valued at approximately $131,000. Infrastructure Capital Advisors LLC boosted its stake in Delek Logistics Partners by 18.6% in the third quarter. Infrastructure Capital Advisors LLC now owns 252,863 shares of the oil and gas producer’s stock valued at $11,055,000 after acquiring an additional 39,577 shares during the last quarter. Finally, Apollon Wealth Management LLC acquired a new stake in Delek Logistics Partners during the 3rd quarter worth $281,000. 11.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DKL. Bank of America assumed coverage on shares of Delek Logistics Partners in a report on Thursday, October 17th. They set an “underperform” rating and a $36.00 price objective for the company. StockNews.com lowered Delek Logistics Partners from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Truist Financial lifted their price objective on Delek Logistics Partners from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Delek Logistics Partners currently has an average rating of “Hold” and an average target price of $44.00.

Delek Logistics Partners Trading Up 2.9 %

Shares of DKL stock opened at $42.26 on Thursday. Delek Logistics Partners has a 1 year low of $37.02 and a 1 year high of $47.67. The firm’s 50 day moving average is $39.63 and its 200-day moving average is $40.36. The firm 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 posted its quarterly earnings data 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). The company had revenue of $214.07 million during the quarter, compared to the consensus estimate of $270.98 million. Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. During the same quarter last year, the firm earned $0.80 EPS. On average, equities research analysts forecast that Delek Logistics Partners 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. Investors of record on Friday, November 8th were issued a $1.10 dividend. This is a boost from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Friday, November 8th. This represents a $4.40 annualized dividend and a yield of 10.41%. Delek Logistics Partners’s dividend payout ratio (DPR) is currently 156.03%.

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.