PBF Logistics LP (NYSE:PBFX) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 225,500 shares, a growth of 6.2% from the August 30th total of 212,300 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average daily volume of 69,900 shares, the days-to-cover ratio is presently 3.2 days.
In other news, Director Karen Berriman Davis bought 1,500 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was acquired at an average price of $19.64 per share, with a total value of $29,460.00. Following the transaction, the director now owns 17,732 shares of the company’s stock, valued at approximately $348,256.48. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders have acquired a total of 6,950 shares of company stock valued at $137,748 in the last three months. Insiders own 0.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of PBF Logistics by 17.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 837,901 shares of the pipeline company’s stock worth $17,638,000 after buying an additional 122,303 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of PBF Logistics by 37.5% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 532,865 shares of the pipeline company’s stock worth $11,265,000 after buying an additional 145,355 shares during the period. Invesco Ltd. acquired a new stake in shares of PBF Logistics during the 2nd quarter worth approximately $54,080,000. Wiley BROS. Aintree Capital LLC acquired a new stake in shares of PBF Logistics during the 3rd quarter worth approximately $374,000. Finally, Tortoise Capital Advisors L.L.C. grew its position in shares of PBF Logistics by 46.6% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 2,676,166 shares of the pipeline company’s stock worth $56,574,000 after buying an additional 850,500 shares during the period. 31.16% of the stock is owned by institutional investors.
PBFX has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of PBF Logistics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Wells Fargo & Co set a $25.00 target price on shares of PBF Logistics and gave the company a “hold” rating in a research report on Monday, August 12th.
Shares of PBFX stock traded up $0.21 during trading hours on Thursday, hitting $20.65. 1,603 shares of the company were exchanged, compared to its average volume of 65,388. The firm has a market cap of $1.26 billion, a P/E ratio of 11.32, a P/E/G ratio of 3.12 and a beta of 0.81. PBF Logistics has a fifty-two week low of $19.17 and a fifty-two week high of $23.69. The company has a debt-to-equity ratio of 7.19, a quick ratio of 1.34 and a current ratio of 1.34. The company has a 50 day simple moving average of $21.01 and a two-hundred day simple moving average of $20.84.
PBF Logistics (NYSE:PBFX) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The company had revenue of $82.75 million during the quarter, compared to the consensus estimate of $82.73 million. PBF Logistics had a net margin of 25.63% and a return on equity of 50.22%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. As a group, sell-side analysts expect that PBF Logistics will post 1.63 EPS for the current fiscal year.
About PBF Logistics
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 two segments, Transportation and Terminaling; and Storage. The company's assets include Delaware City Refining Company LLC (DCR) rail terminal, a double loop track with ancillary pumping and unloading equipment; the Toledo Truck Terminal, a crude truck unloading terminal; the DCR West Rack, a heavy crude oil rail unloading facility at the Delaware city refinery; the Toledo storage facility, which includes a propane storage and loading facility; the DCR products pipeline, an interstate petroleum products pipeline; the DCR Truck Rack, a truck loading rack; the San Joaquin Valley pipeline system and Paulsboro natural gas pipeline; and Knoxville Terminals, which consists of two refined product terminals located in Knoxville, Tennessee.
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