Delek Logistics Partners (NYSE:DKL) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Delek Logistics Partners, LP (NYSE:DKL)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-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 trading hands.

Analyst Ratings Changes

A number of research firms have issued reports on DKL. StockNews.com cut Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Truist Financial raised their price target 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. Finally, 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 on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $44.00.

Delek Logistics Partners Price Performance

The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 1.43 and a beta of 2.10. The company’s fifty day simple moving average is $40.89 and its two-hundred day simple moving average is $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 for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.19). The business had revenue of $214.07 million during the quarter, compared to analyst estimates 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 in the prior year, the company earned $0.80 EPS. On average, analysts forecast that Delek Logistics Partners, LP will post 3.05 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

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

Insiders Place Their Bets

In other Delek Logistics Partners news, Chairman Ezra Uzi Yemin purchased 3,750 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $39.95 per share, with a total value of $149,812.50. Following the completion of the transaction, the chairman now owns 162,217 shares of the company’s stock, valued at $6,480,569.15. The trade was a 2.37 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought 4,835 shares of company stock valued at $192,184 in the last three months. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC purchased a new position in Delek Logistics Partners in the third quarter valued at approximately $49,000. Future Financial Wealth Managment LLC bought a new stake in shares of Delek Logistics Partners in the third quarter valued at $70,000. Sittner & Nelson LLC purchased a new position in shares of Delek Logistics Partners during the 3rd quarter valued at $109,000. Millburn Ridgefield Corp bought a new position in shares of Delek Logistics Partners during the 3rd quarter worth $131,000. Finally, Stifel Financial Corp purchased a new stake in Delek Logistics Partners in the 3rd quarter worth about $206,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

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.