PBF Logistics LP (NYSE:PBFX) has received a consensus recommendation of “Hold” from the six analysts that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $23.50.
PBFX has been the topic of a number of recent research reports. Wells Fargo & Co lowered PBF Logistics from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $25.00 to $24.00 in a report on Tuesday, November 6th. Zacks Investment Research lowered PBF Logistics from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 25th.
Hedge funds have recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. purchased a new stake in shares of PBF Logistics during the third quarter valued at approximately $38,278,000. Advisory Research Inc. increased its position in shares of PBF Logistics by 5.2% during the third quarter. Advisory Research Inc. now owns 625,625 shares of the pipeline company’s stock valued at $13,482,000 after acquiring an additional 30,815 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of PBF Logistics by 3.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 420,563 shares of the pipeline company’s stock valued at $8,453,000 after acquiring an additional 13,413 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in PBF Logistics by 6.6% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 158,746 shares of the pipeline company’s stock worth $3,421,000 after buying an additional 9,809 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in PBF Logistics by 5.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 114,800 shares of the pipeline company’s stock worth $2,307,000 after buying an additional 6,100 shares during the last quarter. Institutional investors own 33.23% of the company’s stock.
Shares of PBFX stock traded down $0.01 during trading hours on Monday, reaching $21.85. The company had a trading volume of 75,300 shares, compared to its average volume of 87,461. PBF Logistics has a 12 month low of $17.75 and a 12 month high of $22.70. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 2.91. The firm has a market capitalization of $991.35 million, a PE ratio of 10.07 and a beta of 0.83.
PBF Logistics Company Profile
PBF Logistics LP owns, leases, acquires, develops, and operates crude oil and refined petroleum products terminals, pipelines, storage facilities, and other logistics assets in the United States. It operates through Transportation and Terminaling, and Storage segments. The company's assets include Delaware City rail unloading terminal, a light crude oil rail unloading terminal, which serves Delaware City and Paulsboro refineries; Toledo truck unloading Terminal, that serves Toledo refinery; Delaware City west heavy unloading rack, a heavy crude oil unloading facility, which serves Delaware City refinery; and a terminaling facility that consists of 27 propane storage bullets and a truck loading facility.
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