UBS Group AG Trims Stock Holdings in PBF Logistics LP (NYSE:PBFX)
UBS Group AG decreased its position in PBF Logistics LP (NYSE:PBFX) by 13.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 707,561 shares of the pipeline company’s stock after selling 112,067 shares during the period. UBS Group AG owned approximately 1.14% of PBF Logistics worth $4,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in PBF Logistics by 712.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,436 shares of the pipeline company’s stock worth $49,000 after acquiring an additional 2,136 shares during the last quarter. Arlington Partners LLC raised its stake in PBF Logistics by 73.1% in the 1st quarter. Arlington Partners LLC now owns 8,471 shares of the pipeline company’s stock worth $57,000 after acquiring an additional 3,578 shares during the last quarter. Advisor Group Inc. raised its stake in PBF Logistics by 206.8% in the 4th quarter. Advisor Group Inc. now owns 5,283 shares of the pipeline company’s stock worth $107,000 after acquiring an additional 3,561 shares during the last quarter. Marshall Wace LLP purchased a new position in PBF Logistics in the 4th quarter worth $188,000. Finally, Credit Suisse AG purchased a new position in PBF Logistics in the 4th quarter worth $220,000. Institutional investors own 30.62% of the company’s stock.
NYSE:PBFX opened at $10.78 on Friday. PBF Logistics LP has a 52 week low of $3.06 and a 52 week high of $22.00. The company has a quick ratio of 1.97, a current ratio of 3.64 and a debt-to-equity ratio of 8.32. The stock has a market capitalization of $634.70 million, a PE ratio of 5.64 and a beta of 1.67. The stock’s 50-day moving average price is $7.60 and its 200-day moving average price is $15.82.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, May 27th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 11.13%. The ex-dividend date of this dividend is Tuesday, May 26th. PBF Logistics’s dividend payout ratio (DPR) is presently 104.52%.
In other PBF Logistics news, insider Carso S.A. De C.V. Inversora bought 38,000 shares of the company’s stock in a transaction dated Tuesday, April 7th. The shares were purchased at an average cost of $5.92 per share, for a total transaction of $224,960.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have bought a total of 318,344 shares of company stock worth $1,553,425 over the last 90 days. Insiders own 0.90% of the company’s stock.
A number of equities analysts recently issued reports on PBFX shares. UBS Group cut their price target on PBF Logistics from $18.50 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Credit Suisse Group increased their price target on PBF Logistics from $11.00 to $13.50 and gave the stock a “neutral” rating in a research report on Friday. Wells Fargo & Co cut their price target on PBF Logistics from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 14th. Zacks Investment Research downgraded PBF Logistics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, January 25th. Finally, ValuEngine downgraded PBF Logistics from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $15.13.
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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