PBF Logistics LP (PBFX) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of PBF Logistics LP (NYSE:PBFX) from a strong sell rating to a hold rating in a research report report published on Wednesday, November 8th.

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. “

Several other research firms also recently commented on PBFX. BidaskClub raised PBF Logistics from a buy rating to a strong-buy rating in a report on Wednesday, August 30th. Credit Suisse Group set a $24.00 target price on PBF Logistics and gave the stock a hold rating in a report on Saturday, August 5th. Finally, UBS AG decreased their price target on PBF Logistics from $28.00 to $24.00 and set a buy rating for the company in a research note on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $24.00.

PBF Logistics (NYSE:PBFX) remained flat at $$19.80 during trading on Wednesday. The company’s stock had a trading volume of 59,414 shares, compared to its average volume of 95,297. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.40. PBF Logistics has a 52 week low of $17.55 and a 52 week high of $22.70. The firm has a market capitalization of $829.52, a P/E ratio of 8.84, a P/E/G ratio of 2.17 and a beta of 1.26.

PBF Logistics (NYSE:PBFX) last released its earnings results on Thursday, November 2nd. The pipeline company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.05. The company had revenue of $65.50 million during the quarter, compared to the consensus estimate of $64.60 million. During the same period last year, the firm posted $0.50 earnings per share. The company’s revenue was up 35.2% compared to the same quarter last year. equities analysts expect that PBF Logistics will post 2.28 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Monday, November 13th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, November 10th. This represents a $1.92 annualized dividend and a dividend yield of 9.70%. This is a boost from PBF Logistics’s previous quarterly dividend of $0.47. PBF Logistics’s payout ratio is currently 85.71%.

Several hedge funds have recently bought and sold shares of the company. Harvest Fund Advisors LLC raised its stake in shares of PBF Logistics by 1.8% in the third quarter. Harvest Fund Advisors LLC now owns 1,307,569 shares of the pipeline company’s stock worth $27,459,000 after purchasing an additional 23,406 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of PBF Logistics in the second quarter worth $7,985,000. NBW Capital LLC raised its stake in shares of PBF Logistics by 2.8% in the second quarter. NBW Capital LLC now owns 403,291 shares of the pipeline company’s stock worth $7,864,000 after purchasing an additional 11,006 shares during the last quarter. Global X MANAGEMENT CO LLC raised its stake in shares of PBF Logistics by 3.4% in the third quarter. Global X MANAGEMENT CO LLC now owns 394,687 shares of the pipeline company’s stock worth $8,288,000 after purchasing an additional 13,150 shares during the last quarter. Finally, Global X Management Co. LLC raised its stake in shares of PBF Logistics by 3.1% in the second quarter. Global X Management Co. LLC now owns 381,537 shares of the pipeline company’s stock worth $7,440,000 after purchasing an additional 11,546 shares during the last quarter. Hedge funds and other institutional investors own 37.54% of the company’s stock.

TRADEMARK VIOLATION WARNING: This story was originally reported by BBNS and is the property of of BBNS. If you are viewing this story on another domain, it was illegally copied and republished in violation of United States and international copyright & trademark law. The legal version of this story can be accessed at https://baseballnewssource.com/markets/pbf-logistics-lp-pbfx-rating-increased-to-hold-at-zacks-investment-research/1767306.html.

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.

Get a free copy of the Zacks research report on PBF Logistics (PBFX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for PBF Logistics LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PBF Logistics LP and related companies with our FREE daily email newsletter.

 


Latest News

Manny Machado Could Change Positions or Uniforms
Manny Machado Could Change Positions or Uniforms
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Yankees and Marlins Continue Stanton Trade Talks
Yankees and Marlins Continue Stanton Trade Talks
Marlins Making Moves, Trade Dee Gordon to Seattle
Marlins Making Moves, Trade Dee Gordon to Seattle
Report: Astros Dallas Keuchel Pitched With Injured Foot
Report: Astros Dallas Keuchel Pitched With Injured Foot
Angels Sign Former Prospect with Braves Kevin Maitan
Angels Sign Former Prospect with Braves Kevin Maitan


Leave a Reply

 
© 2006-2017 BBNS.