Swift Run Capital Management LLC continued to hold its stake in shares of PBF Logistics LP (NYSE:PBFX) during the third quarter, Holdings Channel reports. The firm owned 24,300 shares of the company’s stock at the end of the third quarter. Swift Run Capital Management LLC owned 0.06% of PBF Logistics worth $482,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. BB&T Corp purchased a new position in PBF Logistics during the second quarter worth approximately $230,000. GSA Capital Partners LLP increased its position in PBF Logistics by 294.8% in the second quarter. GSA Capital Partners LLP now owns 47,567 shares of the company’s stock worth $1,095,000 after buying an additional 35,519 shares during the period. Kayne Anderson Capital Advisors LP increased its position in PBF Logistics by 48.5% in the second quarter. Kayne Anderson Capital Advisors LP now owns 2,746,950 shares of the company’s stock worth $63,221,000 after buying an additional 897,157 shares during the period. JPMorgan Chase & Co. purchased a new position in PBF Logistics during the second quarter worth approximately $173,000. Finally, Advantus Capital Management Inc purchased a new position in PBF Logistics during the second quarter worth approximately $1,766,000. 75.05% of the stock is currently owned by institutional investors and hedge funds.
PBF Logistics LP (NYSE:PBFX) opened at 17.55 on Monday. The firm has a market capitalization of $732.34 million, a P/E ratio of 8.64 and a beta of 1.37. The firm has a 50-day moving average price of $19.00 and a 200-day moving average price of $20.72. PBF Logistics LP has a 52 week low of $15.39 and a 52 week high of $23.49.
PBF Logistics (NYSE:PBFX) last released its earnings results on Friday, October 28th. The company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.02. The firm had revenue of $48.43 million for the quarter, compared to analyst estimates of $41.98 million. PBF Logistics had a negative return on equity of 82.44% and a net margin of 45.10%. The firm’s revenue was up 30.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 EPS. Equities analysts forecast that PBF Logistics LP will post $1.98 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th were given a dividend of $0.44 per share. This is a positive change from PBF Logistics’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, November 4th. This represents a $1.76 dividend on an annualized basis and a yield of 10.03%. PBF Logistics’s payout ratio is currently 76.86%.
A number of brokerages have commented on PBFX. Zacks Investment Research upgraded PBF Logistics from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, October 25th. Credit Suisse Group AG restated a “neutral” rating on shares of PBF Logistics in a research note on Monday, August 1st. Finally, TheStreet upgraded PBF Logistics from a “sell” rating to a “hold” rating in a research note on Friday, October 28th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $21.67.
PBF Logistics Company Profile
PBF Logistics LP is engaged in the receiving, handling and transferring of crude oil and the receipt, storage and delivery of crude oil, refined products and intermediates. The Company operates through two segments: Transportation and Terminaling segment, and storage segment. The Company focuses on owning or leasing, operating, developing and acquiring crude oil and refined petroleum products terminals, pipelines, storage facilities and similar logistics assets.