Zacks Investment Research upgraded shares of PBF Logistics LP (NYSE:PBFX) from a hold rating to a buy rating in a research note published on Thursday morning. They currently have $22.00 price objective on the stock.
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. “
Separately, Credit Suisse Group AG restated a neutral rating on shares of PBF Logistics in a research note on Monday, August 1st.
PBF Logistics (NYSE:PBFX) opened at 20.00 on Thursday. The firm has a market cap of $746.72 million, a price-to-earnings ratio of 9.79 and a beta of 1.39. PBF Logistics has a 52-week low of $15.39 and a 52-week high of $23.49. The company’s 50-day moving average price is $20.24 and its 200-day moving average price is $20.86.
PBF Logistics (NYSE:PBFX) last announced its earnings results on Friday, July 29th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by $0.10. PBF Logistics had a net margin of 48.09% and a negative return on equity of 42.52%. The business had revenue of $40.66 million for the quarter, compared to the consensus estimate of $38.61 million. During the same quarter in the previous year, the company earned $0.58 EPS. PBF Logistics’s revenue for the quarter was up 16.5% compared to the same quarter last year. Analysts predict that PBF Logistics will post $1.91 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the stock. Silvercrest Asset Management Group LLC boosted its position in PBF Logistics by 56.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 239,330 shares of the company’s stock valued at $4,509,000 after buying an additional 86,689 shares during the period. Arrowgrass Capital Partners US LP purchased a new position in PBF Logistics during the first quarter valued at approximately $3,297,000. Magnetar Financial LLC purchased a new position in PBF Logistics during the first quarter valued at approximately $942,000. Harvest Fund Advisors LLC boosted its position in PBF Logistics by 1.2% in the first quarter. Harvest Fund Advisors LLC now owns 1,163,263 shares of the company’s stock valued at $21,916,000 after buying an additional 13,356 shares during the period. Finally, Omega Advisors Inc. purchased a new position in PBF Logistics during the first quarter valued at approximately $1,130,000. 60.52% of the stock is owned by hedge funds and other institutional investors.
About PBF Logistics
PBF Logistics LP is engaged in the receiving, handling and transferring of crude oil and the receipt, storage and delivery of crude oil, refined products and intermediates. The Company operates through two segments: Transportation and Terminaling segment, and storage segment. The Company focuses on owning or leasing, operating, developing and acquiring crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets.
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