PBF Logistics (PBFX) Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of PBF Logistics (NYSE:PBFX) from a hold rating to a sell rating in a research report report published on Wednesday morning, Zacks.com reports.

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, Wells Fargo & Co reissued a hold rating on shares of PBF Logistics in a research note on Monday, February 18th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock has an average rating of Hold and a consensus target price of $24.33.

PBFX traded down $0.07 during trading on Wednesday, reaching $21.14. The company’s stock had a trading volume of 1,938 shares, compared to its average volume of 85,936. The company has a debt-to-equity ratio of 3.49, a current ratio of 1.05 and a quick ratio of 1.05. PBF Logistics has a 1 year low of $18.95 and a 1 year high of $23.69. The firm has a market capitalization of $961.85 million, a price-to-earnings ratio of 11.62 and a beta of 0.82.

PBF Logistics (NYSE:PBFX) last released its earnings results on Thursday, February 14th. The pipeline company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. PBF Logistics had a net margin of 26.75% and a return on equity of 46.69%. The business had revenue of $80.00 million for the quarter, compared to analyst estimates of $72.79 million. During the same period last year, the company posted $0.50 EPS. The business’s revenue was up 20.3% on a year-over-year basis. On average, equities analysts anticipate that PBF Logistics will post 1.76 earnings per share for the current fiscal year.

In other news, Director David Roush sold 6,500 shares of PBF Logistics stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $21.67, for a total transaction of $140,855.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Hedge funds have recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. acquired a new position in PBF Logistics during the 3rd quarter valued at about $38,278,000. MetLife Investment Advisors LLC bought a new stake in PBF Logistics during the 3rd quarter worth approximately $2,473,000. JPMorgan Chase & Co. increased its stake in PBF Logistics by 62.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 76,662 shares of the pipeline company’s stock worth $1,652,000 after purchasing an additional 29,399 shares in the last quarter. Green Square Capital LLC increased its stake in PBF Logistics by 1.5% during the 4th quarter. Green Square Capital LLC now owns 149,502 shares of the pipeline company’s stock worth $3,005,000 after purchasing an additional 2,176 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in PBF Logistics by 99.9% during the 3rd quarter. Renaissance Technologies LLC now owns 101,500 shares of the pipeline company’s stock worth $2,187,000 after purchasing an additional 50,728 shares in the last quarter. 34.06% of the stock is currently owned by hedge funds and other institutional investors.

PBF Logistics Company Profile

PBF Logistics LP owns, leases, operates, develops and acquires crude oil and refined petroleum products terminals, pipelines, storage facilities, and similar logistics assets. It operates through two operating segments: Transportation and Terminaling Segment, and Storage Segment. The Storage segment consists of 30 tanks for storing crude oil, refined products and intermediates.

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