PBF Logistics’ (PBFX) Hold Rating Reiterated at Wells Fargo & Co

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Wells Fargo & Co reiterated their hold rating on shares of PBF Logistics (NYSE:PBFX) in a report released on Friday, AnalystRatings.com reports.

Separately, Zacks Investment Research upgraded shares of PBF Logistics from a hold rating to a buy rating and set a $24.00 price target on the stock in a research note on Saturday, October 26th.

PBF Logistics stock traded up $0.21 during mid-day trading on Friday, hitting $20.36. The company had a trading volume of 45,826 shares, compared to its average volume of 87,502. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 7.48. The stock’s 50 day moving average price is $20.93 and its two-hundred day moving average price is $20.82. PBF Logistics has a 12 month low of $19.17 and a 12 month high of $23.69. The company has a market capitalization of $1.26 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 3.03 and a beta of 0.82.

PBF Logistics (NYSE:PBFX) last issued its quarterly earnings results on Thursday, October 31st. The pipeline company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.04. PBF Logistics had a return on equity of 65.51% and a net margin of 28.14%. The firm had revenue of $86.40 million during the quarter, compared to the consensus estimate of $85.61 million. During the same period last year, the company earned $0.44 earnings per share. The company’s revenue was up 22.4% on a year-over-year basis. Equities research analysts anticipate that PBF Logistics will post 1.69 EPS for the current year.

The company also recently announced a dividend, which was paid on Tuesday, November 26th. Shareholders of record on Thursday, November 14th were issued a $0.52 dividend. The ex-dividend date was Wednesday, November 13th. PBF Logistics’s dividend payout ratio (DPR) is presently 114.29%.

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of PBF Logistics by 17.1% during the second quarter. JPMorgan Chase & Co. now owns 837,901 shares of the pipeline company’s stock valued at $17,638,000 after buying an additional 122,303 shares during the last quarter. Arrow Investment Advisors LLC boosted its stake in PBF Logistics by 7.7% during the 3rd quarter. Arrow Investment Advisors LLC now owns 20,532 shares of the pipeline company’s stock valued at $434,000 after purchasing an additional 1,468 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in PBF Logistics by 37.5% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 532,865 shares of the pipeline company’s stock valued at $11,265,000 after purchasing an additional 145,355 shares during the last quarter. Spirit of America Management Corp NY boosted its stake in PBF Logistics by 71.0% during the 3rd quarter. Spirit of America Management Corp NY now owns 120,800 shares of the pipeline company’s stock valued at $2,555,000 after purchasing an additional 50,175 shares during the last quarter. Finally, Invesco Ltd. bought a new stake in shares of PBF Logistics in the 2nd quarter worth $54,080,000. Hedge funds and other institutional investors own 31.34% of the company’s stock.

PBF Logistics Company Profile

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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