In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Delek Logistics Partners Lp (NYSE:DKL) reported that Delek Us Holdings, Inc. has picked up 15,098,392 of common stock as of 2017-03-10.
The acquisition brings the aggregate amount owned by Delek Us Holdings, Inc. to a total of 15,098,392 representing approximately 62.0% stake in the company.
For those not familiar with the company, 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. The Company operates through two segments: Pipelines and Transportation segment, and Wholesale Marketing and Terminalling segment. The Company engaged in the gathering, transporting and storing crude oil; storing intermediate products and feed stocks, and marketing, distributing, transporting and storing refined products. The Company also provides crude oil, intermediate and refined products transportation services for terminaling, and marketing services to third parties primarily in Texas, Tennessee and Arkansas.
A glance at Delek Logistics Partners Lp (NYSE:DKL)’s key stats reveals a current market capitalization of 787.20 Million based on 24.33 Million shares outstanding and a price at last close of $31.15 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-03-08, Delek picked up 450 at a purchase price of $32.04. This brings their total holding to 15,093,470 as of the date of the filing.
On the sell side, the most recent transaction saw Gordon unload 736 shares at a sale price of $22.43. This brings their total holding to 3,000.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Delek Logistics Partners Lp (NYSE:DKL) as things move forward to see if its progress aligns with these transactions.
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