Delek Logistics Partners (NYSE:DKL) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Shares of Delek Logistics Partners, L.P. (NYSE:DKL) passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $53.32 and traded as high as $56.78. Delek Logistics Partners shares last traded at $56.4450, with a volume of 47,182 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DKL shares. Weiss Ratings upgraded shares of Delek Logistics Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 2nd. UBS Group upped their price objective on Delek Logistics Partners from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Monday, September 21st. Finally, Zacks Research downgraded Delek Logistics Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 22nd. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $55.60.

Delek Logistics Partners Stock Performance

The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 19.67 and a beta of 0.47. The stock’s 50-day simple moving average is $55.57 and its two-hundred day simple moving average is $53.32.

Delek Logistics Partners (NYSE:DKL) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.39). The firm had revenue of $384.76 million for the quarter, compared to analyst estimates of $293.64 million. Delek Logistics Partners had a negative return on equity of 935.80% and a net margin of 12.85%. As a group, research analysts predict that Delek Logistics Partners, L.P. will post 3.94 earnings per share for the current year.

Delek Logistics Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were paid a $1.1350 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This is a positive change from Delek Logistics Partners’s previous quarterly dividend of $1.13. This represents a $4.54 dividend on an annualized basis and a yield of 8.0%. Delek Logistics Partners’s payout ratio is presently 158.19%.

Insider Buying and Selling at Delek Logistics Partners

In other news, President Avigal Soreq bought 2,500 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were purchased at an average price of $50.00 per share, for a total transaction of $125,000.00. Following the purchase, the president owned 84,782 shares of the company’s stock, valued at approximately $4,239,100. The trade was a 3.04% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Reuven Spiegel purchased 1,000 shares of the stock in a transaction on Thursday, August 13th. The shares were bought at an average cost of $50.00 per share, for a total transaction of $50,000.00. Following the transaction, the executive vice president directly owned 29,549 shares in the company, valued at approximately $1,477,450. The trade was a 3.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 15,000 shares of company stock worth $750,000 in the last quarter. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DKL. NEOS Investment Management LLC raised its stake in Delek Logistics Partners by 56.0% during the 2nd quarter. NEOS Investment Management LLC now owns 173,361 shares of the oil and gas producer’s stock worth $8,935,000 after buying an additional 62,267 shares during the period. Pinnacle Holdings LLC purchased a new stake in shares of Delek Logistics Partners in the second quarter worth approximately $1,703,000. Adams Asset Advisors LLC grew its holdings in Delek Logistics Partners by 5.2% during the third quarter. Adams Asset Advisors LLC now owns 73,963 shares of the oil and gas producer’s stock worth $3,936,000 after buying an additional 3,675 shares in the last quarter. Tidal Investments LLC grew its holdings in Delek Logistics Partners by 60.9% during the second quarter. Tidal Investments LLC now owns 7,363 shares of the oil and gas producer’s stock worth $379,000 after buying an additional 2,786 shares in the last quarter. Finally, Focus Financial Network Inc. boosted its holdings in Delek Logistics Partners by 2.2% during the 2nd quarter. Focus Financial Network Inc. now owns 13,724 shares of the oil and gas producer’s stock worth $707,000 after acquiring an additional 300 shares during the last quarter. 11.75% of the stock is currently owned by institutional investors.

About Delek Logistics Partners

Delek Logistics Partners, LP is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The partnership is affiliated with Delek US Holdings, Inc and primarily supports the transportation, storage and distribution of crude oil, refined products and other hydrocarbons.

Its assets include crude oil and refined-products pipelines, gathering systems, terminals, storage facilities and other logistics infrastructure. Delek Logistics also provides transportation, marketing and other logistics services that connect petroleum producers, refineries, terminals and downstream markets.

The partnership’s operations are concentrated in the central and southwestern United States, including areas of Texas, New Mexico, Oklahoma, Arkansas and Tennessee.