The stock of Delek Logistics Partners LP (NYSE:DKL) gapped down by $0.14 today and has $25.49 target or 8.00% below today’s $27.71 share price. The 6 months technical chart setup indicates high risk for the $680.74M company. The gap down was reported on Oct, 4 by Barchart.com. If the $25.49 price target is reached, the company will be worth $54.46 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 3.04% or $0.87 on October 3, hitting $27.71. About 60,033 shares traded hands. Delek Logistics Partners LP (NYSE:DKL) has declined 6.54% since March 1, 2016 and is downtrending. It has underperformed by 18.76% the S&P500.
Analysts await Delek Logistics Partners LP (NYSE:DKL) to report earnings on November, 1. They expect $0.54 earnings per share, down 22.86% or $0.16 from last year’s $0.7 per share. DKL’s profit will be $13.27 million for 12.83 P/E if the $0.54 EPS becomes a reality. After $0.66 actual earnings per share reported by Delek Logistics Partners LP for the previous quarter, Wall Street now forecasts -18.18% negative EPS growth.
Delek Logistics Partners LP (NYSE:DKL) Ratings Coverage
Out of 4 analysts covering Delek Logistics Partners (NYSE:DKL), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. Delek Logistics Partners has been the topic of 8 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Goldman Sachs upgraded Delek Logistics Partners LP (NYSE:DKL) on Tuesday, June 21 to “Buy” rating. The firm has “Hold” rating given on Thursday, August 6 by Zacks. The rating was initiated by JP Morgan with “Overweight” on Friday, September 11. The stock of Delek Logistics Partners LP (NYSE:DKL) has “Overweight” rating given on Friday, April 1 by Piper Jaffray. The rating was maintained by Barclays Capital on Thursday, August 11 with “Equal-Weight”. The firm has “Neutral” rating given on Monday, May 9 by Piper Jaffray.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment decreased to 1 in Q2 2016. Its down 0.05, from 1.05 in 2016Q1. The ratio dived, as 6 funds sold all Delek Logistics Partners LP shares owned while 15 reduced positions. 9 funds bought stakes while 12 increased positions. They now own 7.75 million shares or 2.51% less from 7.95 million shares in 2016Q1.
Advisory Rech holds 1.75M shares or 0.8% of its portfolio. Moreover, Barclays Public Limited Com has 0% invested in Delek Logistics Partners LP (NYSE:DKL) for 45,479 shares. Fmr Lc has invested 0% of its portfolio in Delek Logistics Partners LP (NYSE:DKL). Allianz Asset Mgmt Ag, a Germany-based fund reported 593,030 shares. Deutsche National Bank Ag has 88,172 shares for 0% of their US portfolio. Wasatch Advsrs accumulated 0.03% or 81,633 shares. Walleye Trading Limited Company has invested 0% of its portfolio in Delek Logistics Partners LP (NYSE:DKL). Spot Trading Limited Liability Company owns 7,590 shares or 0% of their US portfolio. Peak6 Invests Lp owns 7,889 shares or 0% of their US portfolio. Wells Fargo Mn owns 16,730 shares or 0% of their US portfolio. Clearbridge Investments Ltd Liability Corporation accumulated 0.02% or 648,643 shares. Cumberland holds 0.01% of its portfolio in Delek Logistics Partners LP (NYSE:DKL) for 320 shares. Manufacturers Life The has 450 shares for 0% of their US portfolio. Gsa Cap Llp last reported 30,295 shares in the company. First Limited Partnership, a Illinois-based fund reported 161,638 shares.
Insider Transactions: Since April 4, 2016, the stock had 0 insider purchases, and 1 insider sale for $82,500 net activity. The insider Thomas Kent B sold $82,500.
More notable recent Delek Logistics Partners LP (NYSE:DKL) news were published by: Nasdaq.com which released: “Delek Logistics Partners LP Breaks Below 200-Day Moving Average – Notable for DKL” on October 03, 2016, also Businesswire.com with their article: “Delek Logistics Partners, LP to Host Third Quarter 2016 Conference Call on …” published on September 23, 2016, Businesswire.com published: “Delek Logistics Partners, LP Reports Second Quarter 2016 Results” on August 04, 2016. More interesting news about Delek Logistics Partners LP (NYSE:DKL) were released by: Businesswire.com and their article: “Delek Logistics Partners, LP 2015 K-1 Tax Packages Available on Website” published on March 16, 2016 as well as Quotes.Wsj.com‘s news article titled: “DOW JONES, A NEWS CORP COMPANY” with publication date: February 12, 2011.
DKL Company Profile
Delek Logistics Partners, LP, incorporated on April 24, 2012, 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. The Firm operates through two divisions: Pipelines and Transportation segment, and Wholesale Marketing and Terminalling segment. The Firm engaged in the gathering, transporting and storing crude oil; storing intermediate products and feed stocks, and marketing, distributing, transporting and storing refined products. The Firm also provides crude oil, intermediate and refined products transportation services for terminaling, and marketing services to third parties primarily in Texas, Tennessee and Arkansas. It was formed by Delek US Holdings, Inc. (Delek) and its indirect subsidiary, Delek Logistics GP, LLC.
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