Delek Logistics Partners LP is a master limited partnership that primarily focuses on providing logistics and transportation services related to crude oil and refined petroleum products
The company operates a network of pipelines, terminals, and storage facilities across various regions, facilitating the efficient movement and storage of energy resources. Through its strategic infrastructure, Delek Logistics plays a critical role in supporting the energy sector by ensuring the reliable distribution of fuel to meet market demand, while also providing third-party logistics services to enhance operational efficiency for its partners and clients.
Delek Logistics Partners pays a high yield, over 10% with shares near a long-term low, and the insiders are buying it. Analysts and institutions also buy.
Delek Logistics Partners shares are trading lower by 12% Wednesday afternoon. The company priced its public offering of 3.85 million common units at $39.00 per unit.
DKL stock results show that Delek Logistics Partners missed analyst estimates for earnings per share and missed on revenue for the first quarter of 2024.
Shares of Marvell Technology, Inc. (NASDAQMRVL) fell sharply during Friday’s session after the company reported fourth-quarter financial results and issued weak Q1 guidance.
Oil prices are still extremely favorable for exploration and production activities. Higher upstream activities will possibly boost demand for pipeline and storage assets, thereby brightening the outlook for these front-runners.
