Delek Logistics Partners (NYSE:DKL) Price Target Raised to $50.00

Delek Logistics Partners (NYSE:DKL - Get Free Report) had its target price lifted by equities researchers at Truist Financial from $46.00 to $50.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the oil and gas producer's stock. Truist Financial's price objective suggests a potential upside of 28.34% from the company's current price.

DKL has been the subject of a number of other reports. Citigroup raised Delek Logistics Partners from a "neutral" rating to a "buy" rating and raised their target price for the stock from $44.00 to $45.00 in a research report on Wednesday, August 28th. Bank of America initiated coverage on shares of Delek Logistics Partners in a report on Thursday, October 17th. They issued an "underperform" rating and a $36.00 price target for the company. Finally, StockNews.com lowered Delek Logistics Partners from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. 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. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $44.00.

Delek Logistics Partners Price Performance

NYSE:DKL remained flat at $38.96 during trading hours on Monday. The company had a trading volume of 202,914 shares, compared to its average volume of 109,579. The company has a market cap of $2.01 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.12 and a beta of 2.12. Delek Logistics Partners has a twelve month low of $37.02 and a twelve month high of $53.80. The business's 50 day moving average is $40.78 and its two-hundred day moving average is $40.21.

Delek Logistics Partners (NYSE:DKL - Get Free Report) last issued its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.19). The firm had revenue of $214.07 million during the quarter, compared to analyst estimates 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 prior year, the business earned $0.80 earnings per share. On average, research analysts anticipate that Delek Logistics Partners will post 3.08 EPS for the current year.

Insider Transactions at Delek Logistics Partners

In other news, CFO Reuven Spiegel purchased 1,282 shares of the company's stock in a transaction that occurred on Thursday, October 10th. The stock was purchased at an average cost of $39.00 per share, with a total value of $49,998.00. Following the purchase, the chief financial officer now owns 20,223 shares in the company, valued at approximately $788,697. This trade represents a 6.77 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Avigal Soreq bought 2,563 shares of Delek Logistics Partners stock in a transaction on Thursday, October 10th. The stock was acquired at an average price of $39.00 per share, for a total transaction of $99,957.00. Following the purchase, the president now owns 46,758 shares of the company's stock, valued at approximately $1,823,562. This trade represents a 5.80 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 10,934 shares of company stock worth $426,348 over the last quarter. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Delek Logistics Partners

Hedge funds have recently modified their holdings of the stock. Westwood Holdings Group Inc. purchased a new position in shares of Delek Logistics Partners during the 1st quarter valued at approximately $12,656,000. B. Riley Wealth Advisors Inc. boosted its position in shares of Delek Logistics Partners by 31.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,412 shares of the oil and gas producer's stock worth $563,000 after acquiring an additional 3,215 shares in the last quarter. HB Wealth Management LLC purchased a new position in shares of Delek Logistics Partners in the 2nd quarter valued at about $203,000. IFG Advisory LLC acquired a new stake in shares of Delek Logistics Partners during the 2nd quarter worth about $640,000. Finally, Van ECK Associates Corp lifted its stake in Delek Logistics Partners by 76.0% during the second 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. Institutional investors and hedge funds own 11.75% of the company's stock.

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.