PBF Logistics LP (NYSE:PBFX) declared a quarterly dividend on Thursday, October 29th, Zacks reports. Stockholders of record on Monday, November 16th will be given a dividend of 0.30 per share by the pipeline company on Monday, November 30th. This represents a $1.20 annualized dividend and a dividend yield of 16.13%. The ex-dividend date of this dividend is Friday, November 13th.
PBF Logistics has increased its dividend payment by 20.6% over the last three years.
Shares of PBFX stock traded up $0.02 during mid-day trading on Friday, hitting $7.44. The company had a trading volume of 4,395 shares, compared to its average volume of 323,798. PBF Logistics has a 52-week low of $3.06 and a 52-week high of $21.96. The stock’s 50 day moving average price is $8.56 and its 200-day moving average price is $9.31. The company has a debt-to-equity ratio of 6.04, a current ratio of 2.40 and a quick ratio of 2.40. The company has a market capitalization of $462.64 million, a P/E ratio of 3.47 and a beta of 1.70.
In other news, insider Control Empresarial De Capital acquired 8,000 shares of the business’s stock in a transaction on Friday, September 18th. The shares were acquired at an average price of $8.85 per share, for a total transaction of $70,800.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.
A number of research firms recently issued reports on PBFX. Credit Suisse Group reaffirmed a “hold” rating on shares of PBF Logistics in a research note on Thursday, August 6th. R. F. Lafferty began coverage on shares of PBF Logistics in a research note on Wednesday, September 16th. They set a “buy” rating and a $15.00 price target on the stock. Wells Fargo & Company reaffirmed a “hold” rating on shares of PBF Logistics in a research note on Tuesday, August 11th. Zacks Investment Research downgraded shares of PBF Logistics from a “buy” rating to a “hold” rating in a research note on Wednesday, September 30th. Finally, ValuEngine downgraded shares of PBF Logistics from a “sell” rating to a “strong sell” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $12.70.
PBF Logistics Company 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 in 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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