Insider Buying: Delek Logistics Partners, LP (NYSE:DKL) Chairman Buys $149,812.50 in Stock

Delek Logistics Partners, LP (NYSE:DKL) Chairman Ezra Uzi Yemin bought 3,750 shares of the business’s stock in a transaction on Monday, December 16th. The shares were acquired at an average cost of $39.95 per share, for a total transaction of $149,812.50. Following the purchase, the chairman now directly owns 162,217 shares in the company, valued at $6,480,569.15. This represents a 2.37 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Ezra Uzi Yemin also recently made the following trade(s):

• On Thursday, November 14th, Ezra Uzi Yemin purchased 710 shares of Delek Logistics Partners stock. The shares were acquired at an average cost of $38.72 per share, for a total transaction of $27,491.20.

Delek Logistics Partners Price Performance

Shares of DKL opened at $40.49 on Friday. Delek Logistics Partners, LP has a 12-month low of $37.02 and a 12-month high of $47.67. The stock has a market capitalization of $2.08 billion, a P/E ratio of 14.36, a P/E/G ratio of 1.13 and a beta of 2.12. The firm’s 50 day moving average is $39.25 and its 200-day moving average is $40.24.

Delek Logistics Partners (NYSE:DKL) last posted its quarterly earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.19). Delek Logistics Partners had a net margin of 13.15% and a negative return on equity of 155.77%. The company had revenue of $214.07 million during the quarter, compared to the consensus estimate of $270.98 million. During the same period in the prior year, the company posted $0.80 EPS. As a group, equities research analysts forecast that Delek Logistics Partners, LP will post 3.05 EPS for the current fiscal year.

Delek Logistics Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 10.87%. This is an increase from Delek Logistics Partners’s previous quarterly dividend of $0.73. The ex-dividend date was Friday, November 8th. Delek Logistics Partners’s dividend payout ratio is currently 156.03%.

Hedge Funds Weigh In On Delek Logistics Partners

A number of institutional investors have recently bought and sold shares of DKL. Farther Finance Advisors LLC purchased a new stake in Delek Logistics Partners during the third quarter valued at about $49,000. Van ECK Associates Corp raised its holdings in shares of 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 valued at $135,000 after acquiring an additional 1,437 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of Delek Logistics Partners in the 3rd quarter valued at approximately $70,000. Sittner & Nelson LLC purchased a new stake in shares of Delek Logistics Partners in the 3rd quarter valued at approximately $109,000. Finally, Millburn Ridgefield Corp acquired a new position in Delek Logistics Partners in the 3rd quarter worth approximately $131,000. Hedge funds and other institutional investors own 11.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DKL shares. 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 price objective for the company. Citigroup upgraded shares of Delek Logistics Partners from a “neutral” rating to a “buy” rating and increased their price objective for the company from $44.00 to $45.00 in a report on Wednesday, August 28th. StockNews.com cut Delek Logistics Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. 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 research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.00.

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.