Insider Purchaseing: PBF Logistics LP (PBFX) Director Bought 750 Shares of Shares

Insider Purchaseing: PBF Logistics LP (PBFX) Director Bought 750 Shares of Shares

PBF Logistics LP (NYSE:PBFX) Director Bruce A. Jones bought 750 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was acquired at an average cost of $19.42 per share, for a total transaction of $14,565.00. Following the purchase, the director now owns 9,719 shares of the company’s stock, valued at $188,742.98. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

PBF Logistics LP (PBFX) traded down 1.26% during mid-day trading on Friday, reaching $19.55. 39,592 shares of the company were exchanged. The stock has a market capitalization of $818.25 million, a price-to-earnings ratio of 9.17 and a beta of 1.31. The company’s 50 day moving average price is $20.40 and its 200-day moving average price is $19.99. PBF Logistics LP has a 12-month low of $17.45 and a 12-month high of $23.49.

PBF Logistics (NYSE:PBFX) last released its quarterly earnings results on Thursday, May 4th. The pipeline company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by $0.01. PBF Logistics had a negative return on equity of 82.44% and a net margin of 45.10%. The business had revenue of $60.50 million for the quarter, compared to the consensus estimate of $58.23 million. During the same period in the prior year, the business posted $0.53 earnings per share. PBF Logistics’s revenue was up 65.5% compared to the same quarter last year. On average, equities research analysts forecast that PBF Logistics LP will post $2.11 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Investors of record on Tuesday, May 16th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 9.41%. This is a positive change from PBF Logistics’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, May 12th. PBF Logistics’s dividend payout ratio (DPR) is currently 76.86%.

A number of institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in PBF Logistics by 9.5% in the first quarter. Tower Research Capital LLC TRC now owns 5,851 shares of the pipeline company’s stock worth $126,000 after buying an additional 508 shares in the last quarter. M&T Bank Corp acquired a new position in PBF Logistics during the first quarter worth approximately $505,000. Bank of Montreal Can acquired a new position in PBF Logistics during the first quarter worth approximately $539,000. Hollencrest Securities LLC acquired a new position in PBF Logistics during the first quarter worth approximately $1,075,000. Finally, Wells Fargo & Company MN raised its position in PBF Logistics by 17.5% in the first quarter. Wells Fargo & Company MN now owns 69,358 shares of the pipeline company’s stock worth $1,494,000 after buying an additional 10,330 shares in the last quarter. 75.42% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently weighed in on PBFX. TheStreet raised shares of PBF Logistics from a “d” rating to a “c” rating in a research note on Tuesday. Credit Suisse Group AG set a $24.00 target price on shares of PBF Logistics and gave the company a “hold” rating in a research note on Monday, February 20th. Finally, Zacks Investment Research cut shares of PBF Logistics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “PBFX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Related posts

Leave a Comment