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

Delek Logistics Partners, LP (NYSE:DKL - Get Free Report) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 1,090,000 shares, an increase of 19.7% from the December 31st total of 910,700 shares. Based on an average daily trading volume, of 212,900 shares, the days-to-cover ratio is currently 5.1 days. Currently, 6.7% of the shares of the company are sold short.

Insider Buying and Selling

In other news, Chairman Ezra Uzi Yemin bought 3,750 shares of the firm's stock in a transaction on Monday, December 16th. The stock was purchased at an average price of $39.95 per share, for a total transaction of $149,812.50. Following the transaction, the chairman now owns 162,217 shares in the company, valued at approximately $6,480,569.15. This trade represents a 2.37 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders purchased a total of 4,835 shares of company stock worth $192,184 in the last three months. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DKL. JPMorgan Chase & Co. raised its holdings in 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 acquiring an additional 31,654 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Delek Logistics Partners during the second quarter valued at approximately $522,000. Infrastructure Capital Advisors LLC raised its stake in shares of 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 purchasing an additional 39,577 shares in the last quarter. Adams Asset Advisors LLC bought a new position in Delek Logistics Partners in the fourth quarter worth $2,544,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in Delek Logistics Partners during the fourth quarter worth $1,690,000. Institutional investors and hedge funds own 11.75% of the company's stock.

Delek Logistics Partners Stock Down 0.3 %

Shares of DKL traded down $0.12 during mid-day trading on Wednesday, hitting $43.05. 160,737 shares of the company's stock were exchanged, compared to its average volume of 152,376. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 1.37 and a beta of 2.10. Delek Logistics Partners has a twelve month low of $37.02 and a twelve month high of $46.50. The firm has a fifty day moving average of $41.74 and a two-hundred day moving average of $40.88.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last released 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 firm had revenue of $214.07 million for 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 period in the prior year, the firm earned $0.80 EPS. On average, equities analysts predict that Delek Logistics Partners will post 3.01 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Tuesday, February 4th will be issued a dividend of $1.105 per share. This is an increase from Delek Logistics Partners's previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $4.42 annualized dividend and a dividend yield of 10.27%. Delek Logistics Partners's payout ratio is presently 156.03%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DKL. StockNews.com lowered Delek Logistics Partners from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Truist Financial upped 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. Bank of America initiated coverage on shares of Delek Logistics Partners in a report on Thursday, October 17th. They set an "underperform" rating and a $36.00 price target on the stock. Finally, Raymond James lifted their target price on Delek Logistics Partners from $44.00 to $46.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. One equities research 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $44.25.

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.