Delek Logistics Partners, LP (NYSE:DKL) Short Interest Up 6.1% in December

Delek Logistics Partners, LP (NYSE:DKL - Get Free Report) was the recipient of a significant increase in short interest during 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 days-to-cover ratio is presently 4.4 days. Currently, 5.6% of the company's stock are short sold.

Insider Buying and Selling

In related news, Chairman Ezra Uzi Yemin purchased 3,750 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average cost of $39.95 per share, for a total transaction of $149,812.50. Following the purchase, the chairman now directly owns 162,217 shares of the company's stock, valued at $6,480,569.15. The trade was a 2.37 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Reuven Spiegel acquired 1,282 shares of the firm's stock in a transaction 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 purchase, the chief financial officer now directly owns 20,223 shares of the company's stock, valued at $788,697. This represents a 6.77 % increase in their ownership of the stock. 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 90 days. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Delek Logistics Partners

A number of institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC acquired a new position in Delek Logistics Partners during the third quarter worth $49,000. Van ECK Associates Corp increased 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 acquiring an additional 1,437 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in Delek Logistics Partners during the third quarter worth approximately $70,000. Sittner & Nelson LLC purchased a new position in shares of Delek Logistics Partners in the 3rd quarter worth $109,000. Finally, Millburn Ridgefield Corp purchased a new position in shares of Delek Logistics Partners in the 3rd quarter worth about $131,000. Hedge funds and other institutional investors own 11.75% of the company's stock.

Delek Logistics Partners Price Performance

Shares of DKL stock traded down $0.19 during midday trading on Thursday, hitting $42.07. The company had a trading volume of 185,366 shares, compared to its average volume of 119,000. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.13 and a beta of 2.12. The company's 50 day simple moving average is $39.69 and its 200 day simple moving average is $40.37. Delek Logistics Partners has a 52-week low of $37.02 and a 52-week high of $47.67.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share (EPS) 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 firm had revenue of $214.07 million during the quarter, compared to analyst estimates of $270.98 million. During the same period in the prior year, the firm posted $0.80 earnings per share. Analysts anticipate that Delek Logistics Partners will post 3.05 EPS for the current 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 dividend of $1.10 per share. This is a boost from Delek Logistics Partners's previous quarterly dividend of $0.73. This represents a $4.40 annualized dividend and a yield of 10.46%. The ex-dividend date of this dividend was Friday, November 8th. Delek Logistics Partners's dividend payout ratio is currently 156.03%.

Analyst Upgrades and Downgrades

Several research analysts have commented on DKL shares. Bank of America initiated coverage on Delek Logistics Partners in a research report on Thursday, October 17th. They set an "underperform" rating and a $36.00 price target on the stock. StockNews.com cut shares of Delek Logistics Partners from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Finally, Truist Financial increased their price target on shares of Delek Logistics Partners from $46.00 to $50.00 and gave the stock a "buy" rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $44.00.

About Delek Logistics Partners

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.