PBF Logistics LP (NYSE:PBFX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
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 reissued a “neutral” rating on shares of PBF Logistics in a research report on Monday, August 1st.
Shares of PBF Logistics (NYSE:PBFX) opened at 19.90 on Tuesday. The firm has a market cap of $742.99 million, a PE ratio of 9.74 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 firm has a 50-day moving average of $20.18 and a 200 day moving average of $20.89.
PBF Logistics (NYSE:PBFX) last announced its earnings results on Friday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.10. The business earned $40.66 million during the quarter, compared to the consensus estimate of $38.61 million. PBF Logistics had a net margin of 48.09% and a negative return on equity of 42.52%. The company’s revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 EPS. On average, equities analysts predict that PBF Logistics will post $1.91 earnings per share for the current year.
Large investors have recently bought and sold shares of the company. Advantus Capital Management Inc purchased a new stake in PBF Logistics during the second quarter valued at $1,766,000. JPMorgan Chase & Co. purchased a new stake in PBF Logistics during the second quarter valued at $173,000. Kayne Anderson Capital Advisors LP boosted its stake in PBF Logistics by 48.5% in the second quarter. Kayne Anderson Capital Advisors LP now owns 2,746,950 shares of the company’s stock valued at $63,221,000 after buying an additional 897,157 shares in the last quarter. GSA Capital Partners LLP boosted its stake in PBF Logistics by 294.8% in the second quarter. GSA Capital Partners LLP now owns 47,567 shares of the company’s stock valued at $1,095,000 after buying an additional 35,519 shares in the last quarter. Finally, BB&T Corp purchased a new stake in PBF Logistics during the second quarter valued at $230,000. 60.57% of the stock is owned by institutional investors and hedge funds.
PBF Logistics Company Profile
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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