PBF Logistics (NYSE:PBFX) Receives “Hold” Rating from Wells Fargo & Co
Separately, Zacks Investment Research upgraded shares of PBF Logistics from a hold rating to a buy rating and set a $24.00 price target for the company in a research note on Saturday, October 26th.
Shares of NYSE:PBFX traded up $0.21 during midday trading on Friday, reaching $20.36. The company had a trading volume of 45,826 shares, compared to its average volume of 87,502. The stock has a market cap of $1.26 billion, a P/E ratio of 11.19, a P/E/G ratio of 3.03 and a beta of 0.82. The company’s 50 day moving average price is $20.93 and its 200 day moving average price is $20.82. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 7.48. PBF Logistics has a 52-week low of $19.17 and a 52-week high of $23.69.
The company also recently disclosed a dividend, which was paid on Tuesday, November 26th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Logistics’s dividend payout ratio (DPR) is 114.29%.
Several institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its stake in shares of PBF Logistics by 21.4% during the 2nd quarter. Royal Bank of Canada now owns 3,966 shares of the pipeline company’s stock worth $84,000 after acquiring an additional 700 shares during the period. BNP Paribas Arbitrage SA boosted its position in PBF Logistics by 76,480.0% during the second quarter. BNP Paribas Arbitrage SA now owns 7,658 shares of the pipeline company’s stock worth $162,000 after purchasing an additional 7,648 shares during the period. Securian Asset Management Inc bought a new position in PBF Logistics during the second quarter worth about $271,000. Tortoise Index Solutions LLC increased its stake in shares of PBF Logistics by 62.1% in the second quarter. Tortoise Index Solutions LLC now owns 13,156 shares of the pipeline company’s stock worth $278,000 after purchasing an additional 5,040 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in shares of PBF Logistics by 51.9% in the second quarter. Rockefeller Capital Management L.P. now owns 13,900 shares of the pipeline company’s stock worth $294,000 after purchasing an additional 4,750 shares in the last quarter. Hedge funds and other institutional investors 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.
Further Reading: Percentage Decliners
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