PBF Logistics LP (NYSE:PBFX) Director Purchases $11,994.70 in Stock

PBF Logistics LP (NYSE:PBFX) Director Bruce A. Jones acquired 590 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was purchased at an average price of $20.33 per share, with a total value of $11,994.70. Following the completion of the acquisition, the director now owns 18,540 shares in the company, valued at $376,918.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

PBFX traded down $0.10 during mid-day trading on Wednesday, reaching $20.37. 59,515 shares of the company traded hands, compared to its average volume of 87,647. The stock has a market capitalization of $1.27 billion, a P/E ratio of 11.19, a P/E/G ratio of 3.03 and a beta of 0.82. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 7.48. The company’s fifty day moving average price is $20.94 and its 200-day moving average price is $20.81. PBF Logistics LP has a 52-week low of $19.17 and a 52-week high of $23.69.

PBF Logistics (NYSE:PBFX) last announced its earnings results on Thursday, October 31st. The pipeline company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The business had revenue of $86.40 million during the quarter, compared to analyst estimates of $85.61 million. PBF Logistics had a net margin of 28.14% and a return on equity of 65.51%. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 EPS. As a group, sell-side analysts forecast that PBF Logistics LP will post 1.69 earnings per share for the current fiscal year.

The business also recently announced a dividend, which was paid on Tuesday, November 26th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Logistics’s dividend payout ratio is presently 114.29%.

A number of brokerages have weighed in on PBFX. Wells Fargo & Co set a $25.00 target price on shares of PBF Logistics and gave the company a “hold” rating in a research note on Monday, August 12th. Zacks Investment Research upgraded shares of PBF Logistics from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Saturday, October 26th.

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada raised its stake in PBF Logistics by 21.4% during the 2nd quarter. Royal Bank of Canada now owns 3,966 shares of the pipeline company’s stock valued at $84,000 after buying an additional 700 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in PBF Logistics by 76,480.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,658 shares of the pipeline company’s stock valued at $162,000 after buying an additional 7,648 shares during the last quarter. Securian Asset Management Inc purchased a new stake in PBF Logistics during the 2nd quarter valued at $271,000. Tortoise Index Solutions LLC raised its stake in PBF Logistics by 62.1% during the 2nd quarter. Tortoise Index Solutions LLC now owns 13,156 shares of the pipeline company’s stock valued at $278,000 after buying an additional 5,040 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in PBF Logistics by 51.9% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 13,900 shares of the pipeline company’s stock valued at $294,000 after buying an additional 4,750 shares during the last quarter. Institutional investors and hedge funds own 31.34% of the company’s stock.

PBF Logistics Company Profile

PBF Logistics LP owns, leases, acquires, develops, and operates crude oil and refined petroleum products terminals, pipelines, storage facilities, and other logistics assets in the United States. It operates through two segments, Transportation and Terminaling; and Storage. The company's assets include Delaware City Refining Company LLC (DCR) rail terminal, a double loop track with ancillary pumping and unloading equipment; the Toledo Truck Terminal, a crude truck unloading terminal; the DCR West Rack, a heavy crude oil rail unloading facility at the Delaware city refinery; the Toledo storage facility, which includes a propane storage and loading facility; the DCR products pipeline, an interstate petroleum products pipeline; the DCR Truck Rack, a truck loading rack; the San Joaquin Valley pipeline system and Paulsboro natural gas pipeline; and Knoxville Terminals, which consists of two refined product terminals located in Knoxville, Tennessee.

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