TheStreet Lowers PBF Logistics LP (PBFX) to Sell
PBFX has been the topic of a number of other reports. Zacks Investment Research lowered shares of PBF Logistics from a buy rating to a hold rating in a research note on Thursday, November 3rd. Credit Suisse Group AG reiterated a neutral rating on shares of PBF Logistics in a research note on Monday, August 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $21.67.
Shares of PBF Logistics (NYSE:PBFX) opened at 18.65 on Monday. The firm has a market cap of $778.25 million, a price-to-earnings ratio of 9.18 and a beta of 1.37. PBF Logistics has a 1-year low of $15.39 and a 1-year high of $23.49. The company’s 50-day moving average is $18.88 and its 200 day moving average is $20.69.
PBF Logistics (NYSE:PBFX) last released its quarterly earnings results on Friday, October 28th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $48.43 million for the quarter, compared to the consensus estimate of $41.98 million. PBF Logistics had a net margin of 45.10% and a negative return on equity of 82.44%. The firm’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 EPS. On average, equities research analysts expect that PBF Logistics will post $1.98 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 9.44%. This is a positive change from PBF Logistics’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, November 4th. PBF Logistics’s dividend payout ratio (DPR) is currently 76.86%.
A number of hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its stake in PBF Logistics by 508.5% in the third quarter. Tower Research Capital LLC TRC now owns 5,909 shares of the company’s stock valued at $117,000 after buying an additional 4,938 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in PBF Logistics during the second quarter valued at about $173,000. Meristem LLP bought a new stake in PBF Logistics during the third quarter valued at about $198,000. BB&T Corp bought a new stake in PBF Logistics during the second quarter valued at about $230,000. Finally, Fort Washington Investment Advisors Inc OH bought a new stake in PBF Logistics during the second quarter valued at about $398,000. Institutional investors own 75.05% of the company’s stock.
About PBF Logistics
PBF Logistics LP is engaged in the receiving, handling and transferring of crude oil and the receipt, storage and delivery of crude oil, refined products and intermediates. The Company operates through two segments: Transportation and Terminaling segment, and storage segment. The Company focuses on owning or leasing, operating, developing and acquiring crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets.
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