Some Traders See Unusual Bearish Options Activity in Delek Logistics Partners LP

 Some Traders See Unusual Bearish Options Activity in Delek Logistics Partners LP

In today’s session Delek Logistics Partners LP (DKL) recorded an unusually high (167) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the May, 2017 put, expecting serious DKL decrease. With 167 contracts traded and 5244 open interest for the May, 17 contract, it seems this is a quite bearish bet. The option with symbol: DKL170519P00035000 closed last at: $14.2 or 0.7% up. About 14,026 shares traded hands. Delek Logistics Partners LP (NYSE:DKL) has declined 27.97% since April 8, 2016 and is downtrending. It has underperformed by 33.62% the S&P500.

Delek Logistics Partners LP (NYSE:DKL) Ratings Coverage

Out of 5 analysts covering Delek Logistics Partners (NYSE:DKL), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. $42 is the highest target while $30 is the lowest. The $34.67 average target is 54.78% above today’s ($22.4) stock price. Delek Logistics Partners has been the topic of 10 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Wells Fargo upgraded Delek Logistics Partners LP (NYSE:DKL) on Wednesday, November 9 to “Outperform” rating. The firm has “Market Perform” rating by Wells Fargo given on Monday, October 3. Piper Jaffray downgraded the stock to “Neutral” rating in Monday, May 9 report. Barclays Capital maintained Delek Logistics Partners LP (NYSE:DKL) on Thursday, August 11 with “Equal-Weight” rating. As per Tuesday, June 21, the company rating was upgraded by Goldman Sachs. On Friday, April 1 the stock rating was reinitiated by Piper Jaffray with “Overweight”. Zacks downgraded the shares of DKL in a report on Thursday, August 6 to “Hold” rating. The stock has “Overweight” rating given by JP Morgan on Friday, September 11.

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 2016 Q2. Its down 0.05, from 1.05 in 2016Q1. The ratio dropped, 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.
Renaissance Tech Lc, a New York-based fund reported 88,001 shares. Grp One Trading Ltd Partnership last reported 0% of its portfolio in the stock. Goldman Sachs Inc reported 1.15 million shares or 0.01% of all its holdings. Cbre Clarion Ltd Liability Company has 0.03% invested in the company for 135,915 shares. Liberty Mutual Group Asset Inc has 0.05% invested in the company for 47,682 shares. Bnp Paribas Arbitrage Sa has invested 0.02% of its portfolio in Delek Logistics Partners LP (NYSE:DKL). Walleye Trading Lc has 0% invested in the company for 1,000 shares. Parkside Comml Bank Trust holds 0.11% of its portfolio in Delek Logistics Partners LP (NYSE:DKL) for 8,210 shares. Wells Fargo And Com Mn has 0% invested in the company for 16,730 shares. The Ontario – Canada-based Royal Bank Of Canada has invested 0% in Delek Logistics Partners LP (NYSE:DKL). Finemark Natl Commercial Bank last reported 0% of its portfolio in the stock. Manufacturers Life The, a Ontario – Canada-based fund reported 450 shares. Deutsche Retail Bank Ag last reported 0% of its portfolio in the stock. Gsa Cap Llp has invested 0.04% of its portfolio in Delek Logistics Partners LP (NYSE:DKL). The New York-based Berson Corrado Investment Ltd has invested 0.14% in Delek Logistics Partners LP (NYSE:DKL).

Delek Logistics Partners, LP owns and operates logistics and marketing assets for crude oil, and intermediate and refined products. The company has a market cap of $570.90 million. 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. , and assets acquired from unrelated third parties. It has a 10.35 P/E ratio. The Firm operates through two divisions: Pipelines and Transportation segment, and Wholesale Marketing and Terminalling segment.

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.

More notable recent Delek Logistics Partners LP (NYSE:DKL) news were published by: Nasdaq.com which released: “Delek Logistics Partners, L.P. (DKL) Ex-Dividend Date Scheduled for November …” on November 02, 2016, also Businesswire.com with their article: “Delek Logistics Partners, LP Increases Quarterly Cash Distribution to $0.655 …” published on October 25, 2016, Nasdaq.com published: “Delek Logistics Partners LP Breaks Below 200-Day Moving Average – Notable for DKL” on October 03, 2016. More interesting news about Delek Logistics Partners LP (NYSE:DKL) were released by: Reuters.com and their article: “BRIEF-Delek Logistics Partners Lp – Caddo pipeline to be completed in Jan …” published on November 01, 2016 as well as Businesswire.com‘s news article titled: “Delek Logistics Partners, LP Reports Second Quarter 2016 Results” with publication date: August 04, 2016.

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