Arrow Investment Advisors LLC lifted its position in shares of PBF Logistics LP (NYSE:PBFX) by 7.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,532 shares of the pipeline company’s stock after buying an additional 1,468 shares during the period. Arrow Investment Advisors LLC’s holdings in PBF Logistics were worth $434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Royal Bank of Canada increased its holdings in PBF Logistics by 21.4% in the 2nd quarter. Royal Bank of Canada now owns 3,966 shares of the pipeline company’s stock valued at $84,000 after purchasing an additional 700 shares during the last quarter. Cedar Brook Financial Partners LLC increased its holdings in PBF Logistics by 17.7% in the 2nd quarter. Cedar Brook Financial Partners LLC now owns 15,758 shares of the pipeline company’s stock valued at $333,000 after purchasing an additional 2,375 shares during the last quarter. Wells Fargo & Company MN increased its holdings in PBF Logistics by 2.3% in the 2nd quarter. Wells Fargo & Company MN now owns 122,939 shares of the pipeline company’s stock valued at $2,599,000 after purchasing an additional 2,726 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in PBF Logistics by 51.9% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 13,900 shares of the pipeline company’s stock valued at $294,000 after purchasing an additional 4,750 shares during the last quarter. Finally, Tortoise Index Solutions LLC increased its holdings in PBF Logistics by 62.1% in the 2nd quarter. Tortoise Index Solutions LLC now owns 13,156 shares of the pipeline company’s stock valued at $278,000 after purchasing an additional 5,040 shares during the last quarter. Hedge funds and other institutional investors own 31.18% of the company’s stock.

PBF Logistics stock opened at $21.52 on Friday. PBF Logistics LP has a fifty-two week low of $19.17 and a fifty-two week high of $23.69. The company has a debt-to-equity ratio of 7.48, a quick ratio of 1.34 and a current ratio of 1.71. The firm has a 50 day moving average price of $21.15 and a 200 day moving average price of $20.85. The company has a market capitalization of $1.33 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 3.17 and a beta of 0.82.

PBF Logistics (NYSE:PBFX) last posted its earnings results on Thursday, October 31st. The pipeline company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.04. PBF Logistics had a net margin of 28.14% and a return on equity of 65.51%. The firm had revenue of $86.40 million during the quarter, compared to the consensus estimate of $85.61 million. During the same quarter last year, the firm earned $0.44 EPS. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. As a group, equities research analysts forecast that PBF Logistics LP will post 1.69 earnings per share for the current year.

The firm also recently declared a dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Thursday, November 14th will be given a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. PBF Logistics’s dividend payout ratio is presently 113.19%.

In other PBF Logistics news, Director Karen Berriman Davis purchased 1,500 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was bought at an average price of $19.64 per share, with a total value of $29,460.00. Following the transaction, the director now directly owns 17,732 shares of the company’s stock, valued at approximately $348,256.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired a total of 6,950 shares of company stock valued at $137,748 in the last three months. 0.90% of the stock is currently owned by corporate insiders.

PBFX has been the subject of several research reports. Wells Fargo & Co set a $25.00 target price on shares of PBF Logistics and gave the company a “hold” rating in a report 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 report on Saturday, October 26th.

PBF Logistics 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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Institutional Ownership by Quarter for PBF Logistics (NYSE:PBFX)

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