Delek Logistics Partners (NYSE:DKL) Stock Price Passes Above 200-Day Moving Average - Should You Sell?

Delek Logistics Partners, LP (NYSE:DKL - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $40.28 and traded as high as $41.28. Delek Logistics Partners shares last traded at $41.09, with a volume of 58,702 shares.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. StockNews.com lowered Delek Logistics Partners from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Citigroup raised shares of Delek Logistics Partners from a "neutral" rating to a "buy" rating and lifted their price target for the company from $44.00 to $45.00 in a research note on Wednesday, August 28th. Truist Financial raised their price target on Delek Logistics Partners from $46.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, November 18th. Finally, Bank of America assumed coverage on shares of Delek Logistics Partners in a report on Thursday, October 17th. They issued an "underperform" rating and a $36.00 target price for the company. 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, Delek Logistics Partners has a consensus rating of "Hold" and an average target price of $44.00.

Delek Logistics Partners Stock Performance

The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.13 and a beta of 2.12. The business's 50 day moving average is $39.36 and its 200 day moving average is $40.28.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its quarterly 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 negative return on equity of 155.77% and a net margin of 13.15%. The firm had revenue of $214.07 million for the quarter, compared to analyst estimates of $270.98 million. During the same period in the prior year, the firm posted $0.80 EPS. Sell-side analysts predict that Delek Logistics Partners, LP will post 3.05 EPS for the current year.

Delek Logistics Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were given a dividend of $1.10 per share. This is an increase from Delek Logistics Partners's previous quarterly dividend of $0.73. This represents a $4.40 annualized dividend and a yield of 10.74%. The ex-dividend date of this dividend was Friday, November 8th. Delek Logistics Partners's dividend payout ratio (DPR) is currently 156.03%.

Insider Buying and Selling at Delek Logistics Partners

In other news, President Avigal Soreq bought 2,563 shares of the firm's stock in a transaction that occurred on Thursday, October 10th. The stock was purchased at an average cost of $39.00 per share, for a total transaction of $99,957.00. Following the purchase, the president now directly owns 46,758 shares in the company, valued at approximately $1,823,562. This trade represents a 5.80 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Ezra Uzi Yemin purchased 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, for a total transaction of $149,812.50. Following the transaction, the chairman now owns 162,217 shares of the company's stock, valued at $6,480,569.15. This trade represents a 2.37 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 11,884 shares of company stock worth $467,095. Insiders own 1.00% of the company's stock.

Institutional Trading of Delek Logistics Partners

Several institutional investors have recently bought and sold shares of DKL. HB Wealth Management LLC acquired a new stake in shares of Delek Logistics Partners in the second quarter valued at about $203,000. IFG Advisory LLC acquired a new stake in Delek Logistics Partners during the 2nd quarter worth $640,000. Van ECK Associates Corp boosted its stake in 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 worth $135,000 after purchasing an additional 1,437 shares during the last quarter. Strategic Financial Concepts LLC raised its position in shares of Delek Logistics Partners by 4,182.7% in the second quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer's stock valued at $201,000 after buying an additional 484,571 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Delek Logistics Partners in the second quarter worth about $456,000. 11.75% of the stock is owned by institutional investors and hedge funds.

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.