Hollencrest Securities LLC Invests $1.075 Million in PBF Logistics LP (PBFX)

Hollencrest Securities LLC acquired a new position in PBF Logistics LP (NYSE:PBFX) during the first quarter, Holdings Channel reports. The firm acquired 49,900 shares of the pipeline company’s stock, valued at approximately $1,075,000. Hollencrest Securities LLC owned approximately 0.12% of PBF Logistics at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PBFX. Tower Research Capital LLC TRC raised its stake in shares of PBF Logistics by 508.5% in the third quarter. Tower Research Capital LLC TRC now owns 5,909 shares of the pipeline company’s stock worth $117,000 after buying an additional 4,938 shares during the period. Meristem LLP bought a new stake in shares of PBF Logistics during the third quarter worth about $198,000. Bank of Montreal Can bought a new stake in shares of PBF Logistics during the first quarter worth about $539,000. Wells Fargo & Company MN raised its stake in shares of PBF Logistics by 54.3% in the third quarter. Wells Fargo & Company MN now owns 63,545 shares of the pipeline company’s stock worth $1,260,000 after buying an additional 22,375 shares during the period. Finally, ELCO Management Co. LLC bought a new stake in shares of PBF Logistics during the third quarter worth about $1,301,000. Hedge funds and other institutional investors own 75.42% of the company’s stock.

Institutional Ownership by Quarter for PBF Logistics (NYSE:PBFX)

Shares of PBF Logistics LP (NYSE:PBFX) traded down 0.24% during midday trading on Friday, hitting $20.85. 41,332 shares of the stock were exchanged. The firm has a market cap of $870.76 million, a P/E ratio of 9.84 and a beta of 1.31. The stock’s 50 day moving average is $21.20 and its 200 day moving average is $19.80. PBF Logistics LP has a 12-month low of $17.45 and a 12-month high of $23.49.

PBF Logistics (NYSE:PBFX) last posted its quarterly earnings data on Thursday, February 16th. The pipeline company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.05. The firm earned $61.69 million during the quarter, compared to analysts’ expectations of $48.82 million. PBF Logistics had a net margin of 45.10% and a negative return on equity of 82.44%. The company’s quarterly revenue was up 65.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 EPS. On average, equities research analysts forecast that PBF Logistics LP will post $2.09 earnings per share for the current fiscal year.

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PBFX has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of PBF Logistics from a “hold” rating to a “sell” rating in a research note on Tuesday, January 17th. Credit Suisse Group AG set a $24.00 target price on shares of PBF Logistics and gave the company a “hold” rating in a research note on Monday, February 20th.

PBF Logistics Company Profile

PBF Logistics LP owns or leases, operates, develops and acquires crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. The Company operates through two segments: Transportation and Terminaling, and Storage. The Transportation and Terminaling segment consists of various assets, including Delaware City Rail Unloading Terminal (DCR Rail Terminal), Toledo Truck Unloading Terminal (Toledo Truck Terminal), Delaware City West Heavy Unloading Rack (the DCR West Rack), East Coast Terminals and Torrance Valley Pipeline.

5 Day Chart for NYSE:PBFX

Want to see what other hedge funds are holding PBFX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PBF Logistics LP (NYSE:PBFX).

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