Truist Financial Forecasts Strong Price Appreciation for Delek Logistics Partners (NYSE:DKL) Stock

Delek Logistics Partners (NYSE:DKL) had its price objective hoisted by analysts at Truist Financial from $46.00 to $50.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Truist Financial’s price objective would indicate a potential upside of 29.53% from the stock’s current price.

A number of other brokerages also recently issued reports on DKL. Bank of America initiated coverage on Delek Logistics Partners in a research note on Thursday, October 17th. They set an “underperform” rating and a $36.00 target price for the company. Citigroup upgraded Delek Logistics Partners from a “neutral” rating to a “buy” rating and upped their price target for the stock from $44.00 to $45.00 in a report on Wednesday, August 28th. Finally, StockNews.com cut 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 given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $44.00.

Delek Logistics Partners Stock Down 0.9 %

DKL traded down $0.36 on Monday, hitting $38.60. 80,967 shares of the company traded hands, compared to its average volume of 109,024. The company has a 50 day moving average of $40.78 and a 200-day moving average of $40.21. The stock has a market capitalization of $1.99 billion, a PE ratio of 13.69, a PEG ratio of 1.12 and a beta of 2.12. Delek Logistics Partners has a 12-month low of $37.02 and a 12-month high of $53.80.

Delek Logistics Partners (NYSE:DKL) last issued its earnings results on Wednesday, November 6th. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.19). The business had revenue of $214.07 million for the quarter, compared to analysts’ expectations of $270.98 million. Delek Logistics Partners had a negative return on equity of 155.77% and a net margin of 13.15%. During the same period last year, the company posted $0.80 earnings per share. On average, research analysts anticipate that Delek Logistics Partners will post 3.08 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Joseph Israel bought 3,076 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were acquired at an average cost of $39.00 per share, with a total value of $119,964.00. Following the transaction, the executive vice president now owns 13,782 shares of the company’s stock, valued at $537,498. This represents a 28.73 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Reuven Spiegel bought 3,885 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was purchased at an average cost of $38.98 per share, for a total transaction of $151,437.30. Following the completion of the transaction, the chief financial officer now directly owns 20,163 shares in the company, valued at approximately $785,953.74. This trade represents a 23.87 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 10,934 shares of company stock valued at $426,348 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DKL. Westwood Holdings Group Inc. purchased a new position in Delek Logistics Partners in the first quarter valued at about $12,656,000. IFG Advisory LLC acquired a new stake in shares of Delek Logistics Partners during the second quarter valued at about $640,000. Strategic Financial Concepts LLC grew its stake in shares of Delek Logistics Partners by 4,182.7% during the second quarter. Strategic Financial Concepts LLC now owns 496,156 shares of the oil and gas producer’s stock valued at $201,000 after acquiring an additional 484,571 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Delek Logistics Partners by 31.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 13,412 shares of the oil and gas producer’s stock valued at $563,000 after acquiring an additional 3,215 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Delek Logistics Partners during the second quarter valued at about $522,000. 11.75% of the stock is owned by hedge funds and other institutional investors.

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.