Delek Logistics Partners, L.P. (NYSE:DKL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

According to Zacks, “Delek Logistics Partners, LP owns, operates, acquires and constructs crude oil and refined products logistics and marketing assets. The company operates crude oil transportation pipelines, refined product pipelines, crude oil gathering system, and associated crude oil storage tanks. It also provides marketing services for refined products other than jet fuel and petroleum coke; and light products, operates light product terminals in Texas and Tennessee and offers terminalling services to independent third parties. Delek Logistics Partners, LP is headquartered in Brentwood, Tennessee. “

A number of other analysts have also weighed in on DKL. BidaskClub lowered shares of Delek Logistics Partners, L.P. from a “hold” rating to a “sell” rating in a report on Friday, August 11th. ValuEngine lowered shares of Delek Logistics Partners, L.P. from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. Barclays PLC reaffirmed an “equal weight” rating and set a $34.00 target price (down previously from $35.00) on shares of Delek Logistics Partners, L.P. in a report on Friday, August 4th. Finally, Scotiabank set a $33.00 target price on shares of Delek Logistics Partners, L.P. and gave the stock a “hold” rating in a report on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $33.50.

Shares of Delek Logistics Partners, L.P. (DKL) traded down 1.45% on Wednesday, hitting $30.60. The stock had a trading volume of 10,711 shares. The firm has a 50 day moving average of $30.10 and a 200 day moving average of $31.42. The stock has a market cap of $745.45 million, a P/E ratio of 16.13 and a beta of 1.30. Delek Logistics Partners, L.P. has a 12 month low of $21.30 and a 12 month high of $36.05.

Delek Logistics Partners, L.P. (NYSE:DKL) last posted its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.09). The firm had revenue of $126.80 million for the quarter, compared to the consensus estimate of $140.00 million. Delek Logistics Partners, L.P. had a negative return on equity of 368.38% and a net margin of 12.70%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period last year, the company posted $0.66 EPS. On average, equities analysts forecast that Delek Logistics Partners, L.P. will post $2.33 earnings per share for the current fiscal year.

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In related news, CEO Ezra Uzi Yemin purchased 7,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was acquired at an average price of $29.70 per share, with a total value of $207,900.00. Following the purchase, the chief executive officer now directly owns 219,418 shares in the company, valued at $6,516,714.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

A number of hedge funds have recently added to or reduced their stakes in the business. Gotham Asset Management LLC purchased a new position in Delek Logistics Partners, L.P. in the 2nd quarter worth approximately $18,687,000. California Public Employees Retirement System grew its stake in Delek Logistics Partners, L.P. by 18.2% in the 2nd quarter. California Public Employees Retirement System now owns 11,700 shares of the oil and gas producer’s stock worth $383,000 after buying an additional 1,800 shares in the last quarter. GSA Capital Partners LLP grew its stake in Delek Logistics Partners, L.P. by 53.4% in the 2nd quarter. GSA Capital Partners LLP now owns 27,765 shares of the oil and gas producer’s stock worth $909,000 after buying an additional 9,665 shares in the last quarter. Arrow Investment Advisors LLC purchased a new position in Delek Logistics Partners, L.P. in the 2nd quarter worth approximately $714,000. Finally, Wells Fargo & Company MN grew its stake in Delek Logistics Partners, L.P. by 31.0% in the 2nd quarter. Wells Fargo & Company MN now owns 24,929 shares of the oil and gas producer’s stock worth $817,000 after buying an additional 5,900 shares in the last quarter. 28.78% of the stock is owned by institutional investors and hedge funds.

About Delek Logistics Partners, L.P.

Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products. The Company’s business primarily consists of certain crude oil, intermediate and refined products pipelines and transportation, storage, wholesale marketing, terminaling and offloading assets, which were previously owned, operated or held by Delek US Holdings, Inc (Delek), and assets acquired from unrelated third parties.

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