Insider Buying: PBF Logistics LP (NYSE:PBFX) Director Purchases 590 Shares of Stock

PBF Logistics LP (NYSE:PBFX) Director Bruce A. Jones acquired 590 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was purchased at an average cost of $20.33 per share, with a total value of $11,994.70. Following the purchase, the director now owns 18,540 shares of the company’s stock, valued at $376,918.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of PBF Logistics stock opened at $20.36 on Friday. The stock’s fifty day moving average is $20.93 and its two-hundred day moving average is $20.82. 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. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 7.48. PBF Logistics LP has a 52 week low of $19.17 and a 52 week high of $23.69.

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

The business also recently declared a dividend, which was paid on Tuesday, November 26th. Stockholders of record on Thursday, November 14th were issued a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. PBF Logistics’s payout ratio is presently 114.29%.

Several brokerages have issued reports on PBFX. Wells Fargo & Co restated a “hold” rating on shares of PBF Logistics in a research report on Friday. Zacks Investment Research upgraded PBF Logistics from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Saturday, October 26th.

Hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its holdings in PBF Logistics by 21.4% during the 2nd quarter. Royal Bank of Canada now owns 3,966 shares of the pipeline company’s stock valued at $84,000 after buying an additional 700 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in PBF Logistics by 76,480.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,658 shares of the pipeline company’s stock valued at $162,000 after buying an additional 7,648 shares during the period. Securian Asset Management Inc purchased a new stake in PBF Logistics in the 2nd quarter valued at about $271,000. Tortoise Index Solutions LLC grew its stake in PBF Logistics by 62.1% in the 2nd quarter. Tortoise Index Solutions LLC now owns 13,156 shares of the pipeline company’s stock worth $278,000 after acquiring an additional 5,040 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in PBF Logistics by 51.9% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 13,900 shares of the pipeline company’s stock worth $294,000 after acquiring an additional 4,750 shares in the last quarter. 31.34% of the stock is currently owned by institutional investors.

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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