Bruce A. Jones Buys 750 Shares of PBF Logistics LP (PBFX) Stock

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PBF Logistics LP (NYSE:PBFX) Director Bruce A. Jones purchased 750 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The shares were purchased 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 of the company’s stock, valued at $296,695.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of PBFX stock opened at $20.89 on Friday. The stock has a market capitalization of $957.28 million, a price-to-earnings ratio of 9.63 and a beta of 0.96. The company has a debt-to-equity ratio of 2.91, a quick ratio of 1.35 and a current ratio of 1.35. PBF Logistics LP has a 52 week low of $17.75 and a 52 week high of $22.70.

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 consensus estimate of $0.50 by ($0.06). The company had revenue of $70.60 million during the quarter, compared to the consensus estimate of $70.30 million. PBF Logistics had a return on equity of 47.64% and a net margin of 27.78%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. Research analysts predict that PBF Logistics LP will post 1.79 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Thursday, November 15th were given a $0.50 dividend. This is a positive change from PBF Logistics’s previous quarterly dividend of $0.50. The ex-dividend date was Wednesday, November 14th. This represents a $2.00 annualized dividend and a yield of 9.57%. PBF Logistics’s payout ratio is currently 92.17%.

A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of PBF Logistics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Credit Suisse Group assumed coverage on shares of PBF Logistics in a research report on Thursday, October 11th. They set a “neutral” rating and a $24.00 price target on the stock. Finally, Wells Fargo & Co lowered shares of PBF Logistics from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $25.00 to $24.00 in a research report on Tuesday, November 6th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $23.88.

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. bought a new stake in PBF Logistics in the second quarter worth about $203,000. Tortoise Capital Advisors L.L.C. bought a new stake in PBF Logistics in the third quarter worth about $38,278,000. Advisory Services Network LLC bought a new stake in PBF Logistics in the third quarter worth about $345,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in PBF Logistics in the second quarter worth about $3,128,000. Finally, Alps Advisors Inc. bought a new stake in PBF Logistics in the second quarter worth about $467,000. 33.43% of the stock is currently owned by institutional investors and hedge funds.

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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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