Raymond James Forecasts Strong Price Appreciation for Delek Logistics Partners (NYSE:DKL) Stock

Delek Logistics Partners (NYSE:DKL - Get Free Report) had its price target raised by Raymond James from $44.00 to $46.00 in a report released on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the oil and gas producer's stock. Raymond James' price objective suggests a potential upside of 6.04% from the company's previous close.

Several other analysts also recently commented on the stock. StockNews.com downgraded shares of Delek Logistics Partners from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Bank of America started coverage on shares of Delek Logistics Partners in a research report on Thursday, October 17th. They set an "underperform" rating and a $36.00 price objective for the company. Finally, Truist Financial increased their price target on Delek Logistics Partners from $46.00 to $50.00 and gave the company a "buy" rating in a report on Monday, November 18th. One 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $44.25.

Delek Logistics Partners Price Performance

DKL traded down $0.95 on Tuesday, hitting $43.38. The company had a trading volume of 205,439 shares, compared to its average volume of 142,100. Delek Logistics Partners has a 52-week low of $37.02 and a 52-week high of $47.67. The firm has a market capitalization of $2.23 billion, a P/E ratio of 15.38, a P/E/G ratio of 1.37 and a beta of 2.10. The stock has a fifty day simple moving average of $41.52 and a 200-day simple moving average of $40.84.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last posted 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). The firm had revenue of $214.07 million for the quarter, compared to analysts' expectations of $270.98 million. Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. During the same quarter in the previous year, the company earned $0.80 EPS. Equities research analysts expect that Delek Logistics Partners will post 3.01 earnings per share for the current fiscal year.

Insider Transactions at Delek Logistics Partners

In other Delek Logistics Partners news, Chairman Ezra Uzi Yemin purchased 710 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average cost of $38.72 per share, for a total transaction of $27,491.20. Following the completion of the transaction, the chairman now owns 54,851 shares of the company's stock, valued at $2,123,830.72. The trade was a 1.31 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have purchased 4,835 shares of company stock worth $192,184 over the last quarter. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of DKL. Strategic Financial Concepts LLC grew its position in shares of Delek Logistics Partners by 3,838.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 476,439 shares of the oil and gas producer's stock valued at $20,134,000 after buying an additional 464,343 shares during the last quarter. Adams Asset Advisors LLC acquired a new stake in Delek Logistics Partners in the fourth quarter valued at about $2,544,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in Delek Logistics Partners during the fourth quarter worth $1,690,000. Infrastructure Capital Advisors LLC increased its holdings in shares of Delek Logistics Partners by 18.6% in the 3rd 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. Finally, JPMorgan Chase & Co. boosted its stake in shares of Delek Logistics Partners by 14.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 244,243 shares of the oil and gas producer's stock worth $10,678,000 after acquiring an additional 31,654 shares in the last quarter. Institutional investors and hedge funds 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.