PBF Logistics LP (PBFX) Lifted to Sell at BidaskClub

BidaskClub upgraded shares of PBF Logistics LP (NYSE:PBFX) from a strong sell rating to a sell rating in a research report released on Friday morning.

Several other research firms have also issued reports on PBFX. Zacks Investment Research lowered PBF Logistics from a hold rating to a sell rating in a research note on Saturday, September 30th. UBS AG decreased their price target on PBF Logistics from $28.00 to $24.00 and set a buy rating for the company in a research note on Tuesday, October 17th. Credit Suisse Group set a $24.00 price target on PBF Logistics and gave the stock a hold rating in a research note on Saturday, August 5th. Finally, ValuEngine raised PBF Logistics from a hold rating to a buy rating in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. PBF Logistics currently has a consensus rating of Hold and an average price target of $24.00.

PBF Logistics (PBFX) traded up $0.10 during trading hours on Friday, hitting $20.60. The stock had a trading volume of 71,084 shares, compared to its average volume of 74,106. The firm has a market capitalization of $858.84, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 2.32 and a beta of 1.26. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.40.

PBF Logistics (NYSE:PBFX) last posted its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. The business had revenue of $65.50 million during the quarter, compared to analyst estimates of $64.60 million. PBF Logistics had a return on equity of 64.05% and a net margin of 38.76%. The company’s revenue for the quarter was up 35.2% on a year-over-year basis. During the same period last year, the company earned $0.50 EPS. research analysts anticipate that PBF Logistics will post 2.2 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Monday, November 13th will be paid a dividend of $0.48 per share. This is a positive change from PBF Logistics’s previous quarterly dividend of $0.47. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.32%. The ex-dividend date is Friday, November 10th. PBF Logistics’s dividend payout ratio (DPR) is currently 83.93%.

Several hedge funds have recently modified their holdings of the stock. First Trust Advisors LP bought a new stake in shares of PBF Logistics during the 2nd quarter worth approximately $7,985,000. NBW Capital LLC lifted its stake in shares of PBF Logistics by 2.8% during the 2nd quarter. NBW Capital LLC now owns 403,291 shares of the pipeline company’s stock worth $7,864,000 after acquiring an additional 11,006 shares during the last quarter. Global X MANAGEMENT CO LLC raised its position in PBF Logistics by 3.4% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 394,687 shares of the pipeline company’s stock valued at $8,288,000 after purchasing an additional 13,150 shares in the last quarter. Global X Management Co. LLC raised its position in PBF Logistics by 3.1% during the 2nd quarter. Global X Management Co. LLC now owns 381,537 shares of the pipeline company’s stock valued at $7,440,000 after purchasing an additional 11,546 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in PBF Logistics by 4.5% during the 1st quarter. Renaissance Technologies LLC now owns 156,117 shares of the pipeline company’s stock valued at $3,364,000 after purchasing an additional 6,785 shares in the last quarter. 42.36% of the stock is owned by hedge funds and other institutional investors.

PBF Logistics Company Profile

PBF Logistics LP owns or leases, operates, develops and acquires crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. The Company operates through two segments: Transportation and Terminaling, and Storage. The Transportation and Terminaling segment consists of various assets, including Delaware City Rail Unloading Terminal (DCR Rail Terminal), Toledo Truck Unloading Terminal (Toledo Truck Terminal), Delaware City West Heavy Unloading Rack (the DCR West Rack), East Coast Terminals and Torrance Valley Pipeline.

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