PBF Logistics (PBFX) Receives a Hold from Wells Fargo

PBF Logistics (PBFX) Receives a Hold from Wells Fargo

In a report released yesterday, Praneeth Satish from Wells Fargo maintained a Hold rating on PBF Logistics (PBFX). The company’s shares closed last Monday at $10.88.

According to TipRanks.com, Satish is a 3-star analyst with an average return of 3.9% and a 51.1% success rate. Satish covers the Services sector, focusing on stocks such as Noble Midstream Partners, Oasis Midstream Partners, and Rattler Midstream.

Currently, the analyst consensus on PBF Logistics is a Hold with an average price target of $13.50, a 24.4% upside from current levels. In a report issued on August 5, Credit Suisse also reiterated a Hold rating on the stock with a $13.50 price target.

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PBF Logistics’ market cap is currently $675.9M and has a P/E ratio of 5.10. The company has a Price to Book ratio of 6.37.

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PBFX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

PBF Logistics LP owns, leases, operates, develops and acquires crude oil and refined petroleum products terminals, pipelines, storage facilities, and similar logistics assets. It operates through two operating segments: Transportation and Terminaling Segment, and Storage Segment. The Storage segment consists of 30 tanks for storing crude oil, refined products and intermediates. The company’s initial assets consist of a light crude oil rail unloading terminal at the Delaware city refinery that also services the Paulsboro refinery and a crude oil truck unloading terminal at the Toledo refinery that are integral components of the crude oil delivery operations at all three of PBF Energy, Inc.’s refineries. PBF Logistics was founded on February 25, 2013 and is headquartered in Parsippany, NJ.

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