PBF Logistics (NYSE:PBFX) Sees Unusually-High Trading Volume

PBF Logistics LP (NYSE:PBFXGet Rating) shares saw unusually-high trading volume on Friday . Approximately 15,054 shares changed hands during mid-day trading, a decline of 94% from the previous session’s volume of 236,827 shares.The stock last traded at $21.59 and had previously closed at $21.77.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut PBF Logistics from a “buy” rating to a “hold” rating in a research note on Friday, October 28th.

PBF Logistics Price Performance

The stock has a 50-day moving average price of $20.11 and a 200 day moving average price of $17.88. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 8.89 and a beta of 1.29.

PBF Logistics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 5.58%. The ex-dividend date of this dividend was Friday, November 4th. PBF Logistics’s dividend payout ratio is presently 49.59%.

Insider Transactions at PBF Logistics

In other PBF Logistics news, insider Control Empresarial De Capital sold 70,000 shares of the business’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $18.92, for a total value of $1,324,400.00. Following the completion of the transaction, the insider now directly owns 7,132,592 shares in the company, valued at approximately $134,948,640.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 210,000 shares of company stock valued at $4,047,000 in the last quarter. 0.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PBF Logistics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PBFX. Credit Suisse AG acquired a new stake in PBF Logistics during the second quarter worth about $40,000. Longfellow Investment Management Co. LLC bought a new position in shares of PBF Logistics in the third quarter valued at approximately $76,000. Pacer Advisors Inc. boosted its holdings in shares of PBF Logistics by 11.6% in the third quarter. Pacer Advisors Inc. now owns 8,152 shares of the pipeline company’s stock valued at $154,000 after acquiring an additional 850 shares in the last quarter. Alphastar Capital Management LLC bought a new position in shares of PBF Logistics in the second quarter valued at approximately $163,000. Finally, Vident Investment Advisory LLC boosted its holdings in PBF Logistics by 7.6% during the first quarter. Vident Investment Advisory LLC now owns 20,927 shares of the pipeline company’s stock worth $293,000 after buying an additional 1,472 shares in the last quarter. 33.56% of the stock is owned by hedge funds and other institutional investors.

PBF Logistics Company Profile

(Get Rating)

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 the 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; and the Toledo storage facility, which includes a propane storage and loading facility.

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