PBF Logistics (NYSE:PBFX) Rating Increased to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of PBF Logistics (NYSE:PBFX) from a hold rating to a strong-buy rating in a research report sent to investors on Friday morning, Zacks.com reports. Zacks Investment Research currently has $25.00 target price on the pipeline company’s stock.
According to Zacks, “PBF Logistics LP engages in owning, leasing, operating, developing and acquiring crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets. PBF Logistics LP is headquartered in Parsippany, New Jersey. “
Shares of PBFX opened at $21.79 on Friday. The company has a market cap of $1.34 billion, a P/E ratio of 11.97, a PEG ratio of 3.38 and a beta of 0.79. PBF Logistics has a one year low of $19.17 and a one year high of $23.69. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 3.73. The stock has a fifty day moving average price of $20.78.
A number of institutional investors and hedge funds have recently made changes to their positions in PBFX. PNC Financial Services Group Inc. raised its holdings in PBF Logistics by 227.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,666 shares of the pipeline company’s stock worth $94,000 after acquiring an additional 3,240 shares during the period. Citigroup Inc. increased its holdings in shares of PBF Logistics by 207.0% during the 4th quarter. Citigroup Inc. now owns 12,188 shares of the pipeline company’s stock worth $245,000 after purchasing an additional 8,218 shares during the period. Advisory Services Network LLC increased its holdings in shares of PBF Logistics by 20.5% during the 4th quarter. Advisory Services Network LLC now owns 19,281 shares of the pipeline company’s stock worth $388,000 after purchasing an additional 3,285 shares during the period. Arrow Investment Advisors LLC increased its holdings 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 worth $516,000 after purchasing an additional 2,370 shares during the period. Finally, Avalon Advisors LLC increased its holdings in shares of PBF Logistics by 3.3% during the 1st quarter. Avalon Advisors LLC now owns 52,378 shares of the pipeline company’s stock worth $1,101,000 after purchasing an additional 1,680 shares during the period. Hedge funds and other institutional investors own 23.95% of the company’s stock.
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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