Insider Buying: Malley Thomas D. O Purchases 10,000 Shares of PBF Logistics Stock (PBFX)
PBF Logistics (NASDAQ:PBFX) Director Malley Thomas D. O purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average cost of $24.20 per share, with a total value of $242,000.00. Following the transaction, the director now directly owns 270,870 shares of the company’s stock, valued at approximately $6,555,054. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
PBF Logistics (NASDAQ:PBFX) traded up 1.17% during mid-day trading on Friday, hitting $24.2499. The stock had a trading volume of 113,087 shares. PBF Logistics has a 52 week low of $21.12 and a 52 week high of $29.70. The stock has a 50-day moving average of $26.67 and a 200-day moving average of $27.09. The company has a market cap of $770.5 million and a P/E ratio of 15.93.
PBF Logistics (NASDAQ:PBFX) last announced its earnings results on Friday, August 1st. The company reported $0.17 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.34 by $0.17. The company had revenue of $7.70 million for the quarter, compared to the consensus estimate of $14.30 million. PBF Logistics’s revenue was up 76900.0% compared to the same quarter last year. On average, analysts predict that PBF Logistics will post $1.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Wednesday, August 13th.
A number of analysts have recently weighed in on PBFX shares. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of PBF Logistics in a research note on Tuesday. They now have a $29.50 price target on the stock, down previously from $31.00. Separately, analysts at Wells Fargo & Co. initiated coverage on shares of PBF Logistics in a research note on Wednesday, June 4th. They set a “market perform” rating and a $29.00 price target on the stock.
PBF Logistics LP owns or leases, operates, develops and acquires crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets.
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