Short Interest in PBF Logistics LP (NYSE:PBFX) Decreases By 42.6%

PBF Logistics LP (NYSE:PBFX) saw a significant decline in short interest during the month of March. As of March 13th, there was short interest totalling 47,900 shares, a decline of 42.6% from the February 27th total of 83,500 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 99,700 shares, the short-interest ratio is presently 0.5 days.

In other news, insider Carso S.A. De C.V. Inversora purchased 185,044 shares of PBF Logistics stock in a transaction dated Tuesday, March 24th. The shares were bought at an average cost of $4.36 per share, for a total transaction of $806,791.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. California Public Employees Retirement System boosted its holdings in PBF Logistics by 49.9% in the third quarter. California Public Employees Retirement System now owns 21,200 shares of the pipeline company’s stock valued at $448,000 after acquiring an additional 7,055 shares during the last quarter. Securian Asset Management Inc boosted its holdings in shares of PBF Logistics by 30.5% during the 4th quarter. Securian Asset Management Inc now owns 56,508 shares of the pipeline company’s stock worth $1,144,000 after buying an additional 13,200 shares in the last quarter. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of PBF Logistics by 32.1% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 14,400 shares of the pipeline company’s stock worth $292,000 after buying an additional 3,500 shares in the last quarter. UBS Group AG boosted its holdings in shares of PBF Logistics by 7.0% during the 4th quarter. UBS Group AG now owns 819,628 shares of the pipeline company’s stock worth $16,598,000 after buying an additional 53,406 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of PBF Logistics by 712.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,436 shares of the pipeline company’s stock worth $49,000 after buying an additional 2,136 shares in the last quarter. Institutional investors and hedge funds own 31.01% of the company’s stock.

Several analysts have recently weighed in on PBFX shares. Wells Fargo & Co restated a “hold” rating on shares of PBF Logistics in a report on Friday, December 6th. UBS Group reduced their target price on PBF Logistics from $18.50 to $13.00 and set a “buy” rating on the stock in a report on Wednesday. ValuEngine cut PBF Logistics from a “hold” rating to a “sell” rating in a report on Friday, March 6th. Zacks Investment Research cut PBF Logistics from a “strong-buy” rating to a “hold” rating in a report on Saturday, January 25th. Finally, Raymond James cut PBF Logistics from an “outperform” rating to a “market perform” rating in a report on Thursday, March 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.67.

PBFX stock traded up $0.29 during trading on Thursday, hitting $5.14. The company had a trading volume of 916,051 shares, compared to its average volume of 250,949. The business has a 50-day moving average of $15.46 and a 200-day moving average of $19.60. PBF Logistics has a one year low of $3.06 and a one year high of $22.00. The stock has a market cap of $321.83 million, a PE ratio of 3.02 and a beta of 0.82. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 7.63.

PBF Logistics (NYSE:PBFX) last announced its earnings results on Thursday, February 13th. The pipeline company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02. PBF Logistics had a return on equity of 83.83% and a net margin of 29.48%. The business had revenue of $92.20 million for the quarter, compared to analysts’ expectations of $88.73 million. During the same period in the prior year, the business posted $0.48 earnings per share. The firm’s revenue was up 15.3% on a year-over-year basis. Research analysts forecast that PBF Logistics will post 2.11 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Tuesday, February 25th were issued a $0.52 dividend. The ex-dividend date was Monday, February 24th. This is a boost from PBF Logistics’s previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a yield of 40.47%. PBF Logistics’s dividend payout ratio is presently 104.52%.

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.

Further Reading: How is a management fee different from a performance fee?

Receive News & Ratings for PBF Logistics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PBF Logistics and related companies with MarketBeat.com's FREE daily email newsletter.