PBF Logistics LP (NYSE:PBFX) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 265,300 shares, an increase of 24.6% from the September 30th total of 213,000 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average daily trading volume, of 79,700 shares, the days-to-cover ratio is presently 3.3 days.
PBFX has been the subject of several recent analyst reports. Wells Fargo & Co set a $25.00 price objective on shares of PBF Logistics and gave the stock a “hold” rating in a research report on Monday, August 12th. Zacks Investment Research raised shares of PBF Logistics from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Saturday, October 26th.
In other news, Director Karen Berriman Davis acquired 5,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was bought at an average cost of $19.79 per share, for a total transaction of $98,950.00. Following the completion of the transaction, the director now directly owns 17,732 shares in the company, valued at approximately $350,916.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have bought 6,950 shares of company stock valued at $137,748. 0.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of PBFX. First Trust Advisors LP lifted its stake in shares of PBF Logistics by 28.4% in the second quarter. First Trust Advisors LP now owns 285,350 shares of the pipeline company’s stock valued at $6,032,000 after buying an additional 63,147 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of PBF Logistics by 76,480.0% in the second quarter. BNP Paribas Arbitrage SA now owns 7,658 shares of the pipeline company’s stock valued at $162,000 after buying an additional 7,648 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of PBF Logistics by 37.5% in the second quarter. CIBC Private Wealth Group LLC now owns 532,865 shares of the pipeline company’s stock valued at $11,265,000 after buying an additional 145,355 shares in the last quarter. Securian Asset Management Inc bought a new position in shares of PBF Logistics in the second quarter valued at $271,000. Finally, Cedar Brook Financial Partners LLC lifted its stake in shares of PBF Logistics by 17.7% in the second quarter. Cedar Brook Financial Partners LLC now owns 15,758 shares of the pipeline company’s stock valued at $333,000 after buying an additional 2,375 shares in the last quarter. 31.18% of the stock is currently owned by institutional investors and hedge funds.
NYSE PBFX traded up $0.11 on Thursday, hitting $20.99. 65,785 shares of the company were exchanged, compared to its average volume of 94,984. The company has a market cap of $1.35 billion, a PE ratio of 11.53, a PEG ratio of 3.21 and a beta of 0.82. PBF Logistics has a 12 month low of $19.17 and a 12 month high of $23.69. The stock has a fifty day moving average of $21.15 and a 200-day moving average of $20.85. 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 (NYSE:PBFX) last issued its earnings results on Thursday, October 31st. The pipeline company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.04. The business had revenue of $86.40 million for the quarter, compared to analyst estimates of $85.61 million. PBF Logistics had a net margin of 28.14% and a return on equity of 65.51%. PBF Logistics’s revenue was up 22.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 earnings per share. On average, analysts expect that PBF Logistics will post 1.69 earnings per share for the current year.
The business also recently announced a dividend, which will be paid on Tuesday, November 26th. Investors of record on Thursday, November 14th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, November 13th. PBF Logistics’s dividend payout ratio is presently 113.19%.
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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