BNP Paribas Arbitrage SA grew its position in shares of PBF Logistics LP (NYSE:PBFX) by 76,480.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,658 shares of the pipeline company’s stock after buying an additional 7,648 shares during the period. BNP Paribas Arbitrage SA’s holdings in PBF Logistics were worth $162,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Advisory Services Network LLC increased its stake in PBF Logistics by 14.0% in the 1st quarter. Advisory Services Network LLC now owns 21,978 shares of the pipeline company’s stock worth $462,000 after acquiring an additional 2,697 shares during the last quarter. Arrow Investment Advisors LLC increased its position in shares of PBF Logistics by 10.7% during the 1st quarter. Arrow Investment Advisors LLC now owns 24,536 shares of the pipeline company’s stock valued at $516,000 after purchasing an additional 2,370 shares during the last quarter. First Trust Advisors LP increased its position in shares of PBF Logistics by 28.4% during the 2nd quarter. First Trust Advisors LP now owns 285,350 shares of the pipeline company’s stock valued at $6,032,000 after purchasing an additional 63,147 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of PBF Logistics by 3.4% during the 1st quarter. JPMorgan Chase & Co. now owns 715,598 shares of the pipeline company’s stock valued at $15,042,000 after purchasing an additional 23,512 shares during the last quarter. 32.72% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on PBFX. Zacks Investment Research lowered PBF Logistics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, July 20th. Wells Fargo & Co set a $25.00 price target on PBF Logistics and gave the stock a “hold” rating in a research report on Monday, August 12th.
In other news, Director Karen Berriman Davis bought 5,000 shares of the stock in a transaction dated Monday, August 19th. The stock was bought at an average price of $19.79 per share, for a total transaction of $98,950.00. Following the purchase, the director now directly owns 17,732 shares in the company, valued at approximately $350,916.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders bought 6,950 shares of company stock valued at $137,748. 0.90% of the stock is currently owned by company insiders.
NYSE PBFX opened at $21.36 on Friday. PBF Logistics LP 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 stock has a 50 day simple moving average of $20.68 and a two-hundred day simple moving average of $20.90. The stock has a market cap of $1.33 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 3.29 and a beta of 0.80.
PBF Logistics (NYSE:PBFX) last released its earnings results on Thursday, August 1st. The pipeline company reported $0.37 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.37. The company had revenue of $82.75 million during the quarter, compared to analysts’ expectations of $82.73 million. PBF Logistics had a return on equity of 50.22% and a net margin of 25.63%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS. Sell-side analysts predict that PBF Logistics LP will post 1.63 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 9.64%. The ex-dividend date of this dividend was Wednesday, August 14th. This is a boost from PBF Logistics’s previous quarterly dividend of $0.51. PBF Logistics’s dividend payout ratio (DPR) is presently 113.19%.
PBF Logistics 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 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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