PBF Logistics LP (PBFX) Director Bruce A. Jones Acquires 820 Shares
PBF Logistics LP (NYSE:PBFX) Director Bruce A. Jones purchased 820 shares of the company’s stock in a transaction dated Tuesday, December 5th. The stock was bought at an average price of $19.65 per share, with a total value of $16,113.00. Following the completion of the transaction, the director now directly owns 10,539 shares of the company’s stock, valued at $207,091.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
PBF Logistics LP (PBFX) traded up $0.15 during mid-day trading on Wednesday, hitting $19.80. The stock had a trading volume of 82,320 shares, compared to its average volume of 94,635. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.40. The stock has a market capitalization of $823.23, a price-to-earnings ratio of 8.77, a PEG ratio of 2.15 and a beta of 1.26. PBF Logistics LP has a 1-year low of $17.60 and a 1-year high of $22.70.
PBF Logistics (NYSE:PBFX) last posted its quarterly earnings results on Thursday, November 2nd. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 35.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 earnings per share. equities research analysts forecast that PBF Logistics LP will post 2.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Monday, November 13th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 9.70%. This is a positive change from PBF Logistics’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, November 10th. PBF Logistics’s dividend payout ratio is presently 85.71%.
A number of equities research analysts have recently issued reports on the company. BidaskClub lowered PBF Logistics from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. Zacks Investment Research upgraded PBF Logistics from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Finally, UBS dropped their price target on PBF Logistics from $28.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $24.00.
A number of institutional investors have recently modified their holdings of PBFX. First Republic Investment Management Inc. purchased a new position in PBF Logistics in the third quarter worth approximately $206,000. GSA Capital Partners LLP grew its position in PBF Logistics by 9.1% in the second quarter. GSA Capital Partners LLP now owns 13,314 shares of the pipeline company’s stock worth $260,000 after acquiring an additional 1,114 shares during the period. Institutional & Family Asset Management LLC purchased a new position in PBF Logistics in the third quarter worth approximately $299,000. Alps Advisors Inc. purchased a new position in PBF Logistics in the third quarter worth approximately $468,000. Finally, Fort Washington Investment Advisors Inc. OH grew its position in PBF Logistics by 11.7% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 24,900 shares of the pipeline company’s stock worth $486,000 after acquiring an additional 2,600 shares during the period. Institutional investors own 37.36% of the company’s stock.
About PBF Logistics
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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