Clearbridge Investments LLC lowered its stake in PBF Logistics LP (NYSE:PBFX) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,828,702 shares of the pipeline company’s stock after selling 73,310 shares during the period. Clearbridge Investments LLC owned about 9.14% of PBF Logistics worth $80,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the business. Harvest Fund Advisors LLC raised its position in PBF Logistics by 1.8% in the 3rd quarter. Harvest Fund Advisors LLC now owns 1,307,569 shares of the pipeline company’s stock valued at $27,459,000 after purchasing an additional 23,406 shares in the last quarter. Global X Management Co. LLC raised its position in PBF Logistics by 1.5% in the 4th quarter. Global X Management Co. LLC now owns 400,732 shares of the pipeline company’s stock valued at $8,395,000 after purchasing an additional 6,045 shares in the last quarter. Global X MANAGEMENT CO LLC raised its position in PBF Logistics by 3.4% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 394,687 shares of the pipeline company’s stock valued at $8,288,000 after purchasing an additional 13,150 shares in the last quarter. Renaissance Technologies LLC raised its position in PBF Logistics by 5.9% in the 4th quarter. Renaissance Technologies LLC now owns 234,915 shares of the pipeline company’s stock valued at $4,921,000 after purchasing an additional 13,127 shares in the last quarter. Finally, BP Capital Fund Advisors LLC raised its position in PBF Logistics by 19.1% in the 4th quarter. BP Capital Fund Advisors LLC now owns 151,501 shares of the pipeline company’s stock valued at $3,174,000 after purchasing an additional 24,272 shares in the last quarter. 35.35% of the stock is currently owned by institutional investors.
Shares of PBF Logistics LP (NYSE:PBFX) opened at $20.20 on Tuesday. The company has a debt-to-equity ratio of 3.49, a quick ratio of 2.15 and a current ratio of 2.15. PBF Logistics LP has a 12-month low of $18.55 and a 12-month high of $22.30. The firm has a market capitalization of $833.82, a PE ratio of 9.31, a PEG ratio of 2.39 and a beta of 1.16.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 9.60%. The ex-dividend date of this dividend is Tuesday, February 27th. This is a positive change from PBF Logistics’s previous quarterly dividend of $0.48. PBF Logistics’s dividend payout ratio (DPR) is 89.40%.
Separately, Zacks Investment Research lowered PBF Logistics from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. PBF Logistics has a consensus rating of “Hold” and an average price target of $24.00.
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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