PBF Logistics LP (PBFX) Director Purchases $15,637.50 in Stock

PBF Logistics LP (NYSE:PBFX) Director Bruce A. Jones acquired 750 shares of the stock in a transaction on Tuesday, December 4th. The shares were acquired at an average cost of $20.85 per share, for a total transaction of $15,637.50. Following the completion of the transaction, the director now directly owns 14,230 shares in the company, valued at approximately $296,695.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of NYSE PBFX traded down $0.20 during midday trading on Thursday, hitting $20.72. The company had a trading volume of 799 shares, compared to its average volume of 49,542. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 2.91. PBF Logistics LP has a twelve month low of $17.75 and a twelve month high of $22.70. The stock has a market capitalization of $948.66 million, a price-to-earnings ratio of 9.41 and a beta of 0.96.

PBF Logistics (NYSE:PBFX) last announced its quarterly earnings data on Wednesday, October 31st. The pipeline company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.06). PBF Logistics had a net margin of 27.78% and a return on equity of 47.64%. The company had revenue of $70.60 million during the quarter, compared to analyst estimates of $70.30 million. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the business earned $0.63 EPS. Equities research analysts expect that PBF Logistics LP will post 1.79 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Thursday, November 15th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, November 14th. This represents a $2.00 dividend on an annualized basis and a yield of 9.65%. This is a boost from PBF Logistics’s previous quarterly dividend of $0.50. PBF Logistics’s payout ratio is presently 92.17%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tortoise Capital Advisors L.L.C. purchased a new stake in shares of PBF Logistics during the third quarter worth about $38,278,000. CIBC Private Wealth Group LLC grew its stake in PBF Logistics by 32.8% during the second quarter. CIBC Private Wealth Group LLC now owns 887,629 shares of the pipeline company’s stock worth $18,640,000 after buying an additional 219,479 shares during the period. Advisory Research Inc. grew its stake in PBF Logistics by 5.2% during the third quarter. Advisory Research Inc. now owns 625,625 shares of the pipeline company’s stock worth $13,482,000 after buying an additional 30,815 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in PBF Logistics during the third quarter worth approximately $8,774,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in PBF Logistics by 6.6% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 158,746 shares of the pipeline company’s stock worth $3,421,000 after buying an additional 9,809 shares during the period. Institutional investors own 33.43% of the company’s stock.

Several brokerages have issued reports on PBFX. Wells Fargo & Co downgraded shares of PBF Logistics from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $25.00 to $24.00 in a research report on Tuesday, November 6th. Zacks Investment Research downgraded shares of PBF Logistics from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. Finally, Credit Suisse Group initiated coverage on shares of PBF Logistics in a research report on Thursday, October 11th. They set a “neutral” rating and a $24.00 price objective on the stock. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. PBF Logistics has a consensus rating of “Hold” and an average price target of $23.88.

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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 Transportation and Terminaling, and Storage segments. The company's assets include Delaware City rail unloading terminal, a light crude oil rail unloading terminal, which serves Delaware City and Paulsboro refineries; Toledo truck unloading Terminal, that serves Toledo refinery; Delaware City west heavy unloading rack, a heavy crude oil unloading facility, which serves Delaware City refinery; and a terminaling facility that consists of 27 propane storage bullets and a truck loading facility.

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