Zacks Investment Research lowered shares of PBF Logistics (NYSE:PBFX) from a strong-buy rating to a hold rating in a research report released on Saturday morning, Zacks.com reports.

According to Zacks, “PBF Logistics LP engages in owning, leasing, operating, developing and acquiring crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. PBF Logistics LP is headquartered in Parsippany, New Jersey. “

NYSE PBFX opened at $21.84 on Friday. The company has a market cap of $1.35 billion, a P/E ratio of 12.00, a P/E/G ratio of 3.38 and a beta of 0.79. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 3.73. The firm’s 50 day moving average is $20.81. PBF Logistics has a fifty-two week low of $19.17 and a fifty-two week high of $23.69.

PBF Logistics (NYSE:PBFX) last released its earnings results on Wednesday, May 1st. The pipeline company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.04). The company had revenue of $78.85 million for the quarter, compared to the consensus estimate of $79.08 million. PBF Logistics had a net margin of 25.11% and a return on equity of 45.77%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 EPS. On average, research analysts expect that PBF Logistics will post 1.6 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBFX. JPMorgan Chase & Co. increased its position in shares of PBF Logistics by 3.4% during the 1st quarter. JPMorgan Chase & Co. now owns 715,598 shares of the pipeline company’s stock valued at $15,042,000 after purchasing an additional 23,512 shares during the last quarter. Citigroup Inc. grew its position in PBF Logistics by 207.0% in the 4th quarter. Citigroup Inc. now owns 12,188 shares of the pipeline company’s stock valued at $245,000 after acquiring an additional 8,218 shares during the last quarter. Advisory Services Network LLC grew its position in PBF Logistics by 20.5% in the 4th quarter. Advisory Services Network LLC now owns 19,281 shares of the pipeline company’s stock valued at $388,000 after acquiring an additional 3,285 shares during the last quarter. PNC Financial Services Group Inc. grew its position in PBF Logistics by 227.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,666 shares of the pipeline company’s stock valued at $94,000 after acquiring an additional 3,240 shares during the last quarter. Finally, Arrow Investment Advisors LLC grew its position in PBF Logistics by 10.7% in the 1st quarter. Arrow Investment Advisors LLC now owns 24,536 shares of the pipeline company’s stock valued at $516,000 after acquiring an additional 2,370 shares during the last quarter. 23.95% of the stock is currently owned by hedge funds and other institutional investors.

About PBF Logistics

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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