PBF Logistics LP (PBFX) Position Lowered by Royal Bank of Canada
Royal Bank of Canada cut its stake in shares of PBF Logistics LP (NYSE:PBFX) by 9.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,039 shares of the pipeline company’s stock after selling 1,565 shares during the quarter. Royal Bank of Canada’s holdings in PBF Logistics were worth $293,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of PBFX. First Trust Advisors LP acquired a new stake in shares of PBF Logistics during the 2nd quarter valued at $7,985,000. Global X Management Co. LLC lifted its position in shares of PBF Logistics by 3.1% during the 2nd quarter. Global X Management Co. LLC now owns 381,537 shares of the pipeline company’s stock valued at $7,440,000 after acquiring an additional 11,546 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of PBF Logistics by 4.5% during the 1st quarter. Renaissance Technologies LLC now owns 156,117 shares of the pipeline company’s stock valued at $3,364,000 after acquiring an additional 6,785 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of PBF Logistics by 18.5% during the 2nd quarter. Wells Fargo & Company MN now owns 82,210 shares of the pipeline company’s stock valued at $1,603,000 after acquiring an additional 12,852 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of PBF Logistics by 22.3% during the 1st quarter. Bank of America Corp DE now owns 81,906 shares of the pipeline company’s stock valued at $1,765,000 after acquiring an additional 14,931 shares during the last quarter. 37.54% of the stock is owned by institutional investors.
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Shares of PBF Logistics LP (NYSE:PBFX) opened at $19.50 on Monday. The stock has a market capitalization of $816.95, a PE ratio of 8.71, a PEG ratio of 2.14 and a beta of 1.26. PBF Logistics LP has a 1 year low of $17.45 and a 1 year high of $22.70. The company has a debt-to-equity ratio of 3.40, a current ratio of 1.26 and a quick ratio of 1.26.
PBF Logistics (NYSE:PBFX) last released its earnings results on Thursday, November 2nd. The pipeline company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.05. PBF Logistics had a net margin of 38.76% and a return on equity of 64.05%. The business had revenue of $65.50 million during the quarter, compared to analysts’ expectations of $64.60 million. During the same quarter last year, the company earned $0.50 earnings per share. The firm’s revenue was up 35.2% on a year-over-year basis. sell-side analysts predict that PBF Logistics LP will post 2.28 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Monday, November 13th will be paid a dividend of $0.48 per share. This is a boost from PBF Logistics’s previous quarterly dividend of $0.47. The ex-dividend date is Friday, November 10th. This represents a $1.92 dividend on an annualized basis and a yield of 9.85%. PBF Logistics’s dividend payout ratio (DPR) is currently 85.71%.
A number of research firms have recently weighed in on PBFX. Zacks Investment Research downgraded shares of PBF Logistics from a “hold” rating to a “sell” rating in a research note on Saturday, September 30th. UBS AG lowered their target price on shares of PBF Logistics from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, October 17th. BidaskClub raised shares of PBF Logistics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. Finally, Credit Suisse Group set a $24.00 target price on shares of PBF Logistics and gave the stock a “hold” rating in a research report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $24.00.
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.
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