Delek Logistics Partners LP (DKL) Sees Large Volume Increase
Delek Logistics Partners LP (NYSE:DKL) shares saw unusually-high trading volume on Thursday . Approximately 77,772 shares traded hands during trading, an increase of 5% from the previous session’s volume of 74,209 shares.The stock last traded at $26.60 and had previously closed at $26.24.
DKL has been the topic of several research reports. Zacks Investment Research downgraded Delek Logistics Partners from a “hold” rating to a “sell” rating in a report on Tuesday. Barclays PLC initiated coverage on Delek Logistics Partners in a report on Wednesday, April 13th. They set an “equal weight” rating and a $36.00 price objective on the stock. Simmons reaffirmed a “hold” rating and set a $31.00 price objective (down previously from $33.00) on shares of Delek Logistics Partners in a report on Tuesday, June 21st. Piper Jaffray Cos. downgraded Delek Logistics Partners from an “overweight” rating to a “neutral” rating in a report on Monday, May 9th. Finally, Goldman Sachs Group Inc. raised Delek Logistics Partners from a “neutral” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Delek Logistics Partners presently has a consensus rating of “Hold” and an average price target of $34.25.
The company has a market cap of $631.18 million and a P/E ratio of 10.36. The firm’s 50-day moving average price is $26.22 and its 200-day moving average price is $28.24.
Delek Logistics Partners (NYSE:DKL) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $104.40 million for the quarter, compared to the consensus estimate of $122.18 million. The company’s quarterly revenue was down 27.3% compared to the same quarter last year. During the same period last year, the firm posted $0.56 EPS. On average, analysts forecast that Delek Logistics Partners LP will post $2.26 earnings per share for the current year.
In other news, EVP Kent B. Thomas sold 2,500 shares of Delek Logistics Partners stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $33.00, for a total value of $82,500.00. Following the completion of the sale, the executive vice president now directly owns 12,604 shares in the company, valued at $415,932. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A hedge fund recently raised its stake in Delek Logistics Partners stock. BNP Paribas Arbitrage SA boosted its position in shares of Delek Logistics Partners LP (NYSE:DKL) by 1.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 150,510 shares of the company’s stock after buying an additional 1,478 shares during the period. BNP Paribas Arbitrage SA owned 0.62% of Delek Logistics Partners worth $5,372,000 as of its most recent SEC filing.
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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