Adams Asset Advisors LLC Makes New Investment in Delek Logistics Partners, LP (NYSE:DKL)

Adams Asset Advisors LLC purchased a new stake in Delek Logistics Partners, LP (NYSE:DKL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 60,187 shares of the oil and gas producer's stock, valued at approximately $2,544,000. Adams Asset Advisors LLC owned 0.12% of Delek Logistics Partners as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. JPMorgan Chase & Co. increased its position in shares of Delek Logistics Partners by 14.9% in 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 last quarter. Sanctuary Advisors LLC purchased a new position in Delek Logistics Partners in the second quarter valued at $522,000. Infrastructure Capital Advisors LLC raised 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 buying an additional 39,577 shares in the last quarter. Stifel Financial Corp purchased a new stake in Delek Logistics Partners during the 3rd quarter worth about $206,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Delek Logistics Partners during the 2nd quarter worth about $456,000. Institutional investors and hedge funds own 11.75% of the company's stock.

Delek Logistics Partners Trading Up 0.6 %

Shares of Delek Logistics Partners stock traded up $0.27 during trading on Monday, reaching $42.47. The company's stock had a trading volume of 99,353 shares, compared to its average volume of 105,093. The firm has a market cap of $2.19 billion, a PE ratio of 15.06, a P/E/G ratio of 1.15 and a beta of 2.10. The company has a 50-day moving average price of $40.12 and a two-hundred day moving average price of $40.49. Delek Logistics Partners, LP has a fifty-two week low of $37.02 and a fifty-two week high of $47.67.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last announced its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $214.07 million during the quarter, compared to analysts' expectations of $270.98 million. During the same period in the previous year, the company posted $0.80 earnings per share. On average, analysts predict that Delek Logistics Partners, LP 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. Stockholders of record on Friday, November 8th were issued a $1.10 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 10.36%. This is a positive change from Delek Logistics Partners's previous quarterly dividend of $0.73. Delek Logistics Partners's payout ratio is presently 156.03%.

Wall Street Analysts Forecast Growth

DKL has been the subject of several recent analyst reports. StockNews.com cut Delek Logistics Partners from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Truist Financial upped their target price on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the company a "buy" rating in a report on Monday, November 18th. Finally, Bank of America began coverage on shares of Delek Logistics Partners in a research note on Thursday, October 17th. They set an "underperform" rating and a $36.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Delek Logistics Partners currently has an average rating of "Hold" and a consensus price target of $44.00.

Insider Buying and Selling

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

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.