Zacks Investment Research lowered shares of PBF Logistics LP (NYSE:PBFX) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “PBF Logistics LP engages in owning, leasing, operating, developing and acquiring crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. PBF Logistics LP is headquartered in Parsippany, New Jersey. “

Separately, Credit Suisse Group AG reiterated a neutral rating on shares of PBF Logistics in a research report on Monday, August 1st.

Shares of PBF Logistics (NYSE:PBFX) opened at 20.35 on Tuesday. The firm has a 50-day moving average of $20.18 and a 200 day moving average of $20.90. PBF Logistics has a 12-month low of $15.39 and a 12-month high of $23.49. The firm has a market capitalization of $759.79 million, a price-to-earnings ratio of 9.96 and a beta of 1.39.

PBF Logistics (NYSE:PBFX) last released its quarterly earnings data on Friday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.10. The company had revenue of $40.66 million for the quarter, compared to analyst estimates of $38.61 million. PBF Logistics had a negative return on equity of 42.52% and a net margin of 48.09%. PBF Logistics’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 earnings per share. On average, equities research analysts expect that PBF Logistics will post $1.91 earnings per share for the current year.

Several large investors have recently bought and sold shares of PBFX. State Street Corp raised its stake in PBF Logistics by 3.9% in the first quarter. State Street Corp now owns 15,519 shares of the company’s stock worth $292,000 after buying an additional 581 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in PBF Logistics by 12.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,212,929 shares of the company’s stock worth $22,852,000 after buying an additional 132,598 shares in the last quarter. TPH Asset Management LLC purchased a new stake in PBF Logistics during the first quarter worth approximately $1,386,000. Silvercrest Asset Management Group LLC raised its stake in PBF Logistics by 56.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 239,330 shares of the company’s stock worth $4,509,000 after buying an additional 86,689 shares in the last quarter. Finally, Omega Advisors Inc. purchased a new stake in PBF Logistics during the first quarter worth approximately $1,130,000. 60.57% of the stock is currently owned by institutional investors.

About PBF Logistics

PBF Logistics LP is engaged in the receiving, handling and transferring of crude oil and the receipt, storage and delivery of crude oil, refined products and intermediates. The Company operates through two segments: Transportation and Terminaling segment, and storage segment. The Company focuses on owning or leasing, operating, developing and acquiring crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets.

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