PBF Logistics LP (NYSE:PBFX) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 194,900 shares, an increase of 31.0% from the June 30th total of 148,800 shares. Based on an average daily volume of 102,000 shares, the short-interest ratio is presently 1.9 days. Currently, 1.8% of the company’s stock are sold short.
A number of hedge funds have recently modified their holdings of PBFX. Invesco Ltd. purchased a new position in PBF Logistics in the 2nd quarter worth $54,080,000. Cohen & Steers Inc. raised its stake in PBF Logistics by 975.0% in the 2nd quarter. Cohen & Steers Inc. now owns 998,432 shares of the pipeline company’s stock worth $21,107,000 after acquiring an additional 905,557 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in PBF Logistics by 37.5% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 532,865 shares of the pipeline company’s stock worth $11,265,000 after acquiring an additional 145,355 shares during the last quarter. JPMorgan Chase & Co. grew its position in 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 purchasing an additional 122,303 shares during the period. Finally, First Trust Advisors LP grew its position in PBF Logistics by 28.4% during the 2nd quarter. First Trust Advisors LP now owns 285,350 shares of the pipeline company’s stock worth $6,032,000 after purchasing an additional 63,147 shares during the period. Institutional investors own 24.34% of the company’s stock.
PBFX stock traded down $0.09 during midday trading on Wednesday, reaching $20.01. The stock had a trading volume of 114,785 shares, compared to its average volume of 92,499. The firm has a market cap of $1.27 billion, a PE ratio of 10.99, a PEG ratio of 3.32 and a beta of 0.77. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 7.19. The firm has a fifty day simple moving average of $21.18. PBF Logistics has a 52-week low of $19.17 and a 52-week high of $23.69.
PBF Logistics (NYSE:PBFX) last issued its earnings results on Thursday, August 1st. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.37. The company had revenue of $82.75 million during the quarter, compared to analyst estimates of $82.73 million. PBF Logistics had a return on equity of 50.22% and a net margin of 25.63%. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. As a group, research analysts forecast that PBF Logistics will post 1.54 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be paid a $0.515 dividend. This is a positive change from PBF Logistics’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, August 14th. This represents a $2.06 dividend on an annualized basis and a yield of 10.29%. PBF Logistics’s dividend payout ratio (DPR) is 112.09%.
A number of equities analysts recently issued reports on PBFX shares. Wells Fargo & Co set a $25.00 target price on PBF Logistics and gave the stock a “hold” rating in a research note on Monday. Zacks Investment Research lowered PBF Logistics from a “strong-buy” rating to a “hold” rating in a research note on Saturday, July 20th.
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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