PBF Logistics LP (NYSE:PBFX) Rating Increased to Buy at ValuEngine
PBF Logistics LP (NYSE:PBFX) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.
PBFX has been the subject of several other research reports. TheStreet raised PBF Logistics from a “d” rating to a “c” rating in a research note on Tuesday, May 30th. Zacks Investment Research downgraded PBF Logistics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th.
Shares of PBF Logistics (PBFX) traded down 0.78% during midday trading on Thursday, hitting $19.20. 49,471 shares of the company were exchanged. The company has a 50-day moving average of $19.61 and a 200 day moving average of $20.10. The company has a market capitalization of $803.60 million, a P/E ratio of 9.01 and a beta of 1.33. PBF Logistics has a one year low of $17.45 and a one year high of $23.26.
PBF Logistics (NYSE:PBFX) last issued its earnings results on Thursday, May 4th. The pipeline company reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The business had revenue of $60.50 million for the quarter, compared to analyst estimates of $58.23 million. PBF Logistics had a return on equity of 112.48% and a net margin of 40.93%. The firm’s revenue was up 65.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 EPS. On average, equities research analysts expect that PBF Logistics will post $2.11 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in PBFX. UBS Group AG increased its position in PBF Logistics by 44.9% in the first quarter. UBS Group AG now owns 646,881 shares of the pipeline company’s stock valued at $13,941,000 after buying an additional 200,484 shares in the last quarter. Renaissance Technologies LLC increased its position in PBF Logistics by 18.5% in the fourth quarter. Renaissance Technologies LLC now owns 149,332 shares of the pipeline company’s stock valued at $2,718,000 after buying an additional 23,332 shares in the last quarter. Hollencrest Securities LLC purchased a new position in PBF Logistics during the first quarter valued at about $1,075,000. BP Capital Fund Advisors LLC increased its position in PBF Logistics by 6.5% in the first quarter. BP Capital Fund Advisors LLC now owns 127,229 shares of the pipeline company’s stock valued at $2,742,000 after buying an additional 7,730 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in PBF Logistics during the first quarter valued at about $539,000. 72.18% of the stock is owned by institutional investors.
About PBF Logistics
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.
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