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PBF Logistics LP (PBFX)

NYSE - NYSE Delayed price. Currency in USD
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14.46-0.04 (-0.28%)
At close: 4:00PM EDT
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  • d
    david
    Buying more if this goes sub 13. Gas sales are almost back to normal pre-pandemic volume. Earnings will be very good!
  • E
    Edward
    I had a quick look at their SEC form 10-K (annual report) filed today (18 FEB 2021). There is definitely a significant improvement in their Current Ratio y-on-y. 2019 ended with CR = 1.97, whereas 2020 finished out at about 2.35. Some improvement in their Cash Assets as well.
    These significant improvements should enhance share price in the near future.
  • r
    richard
    This looks to be a solid ,underpriced company paying a tax free return of over 9%.what am I missing?
  • R
    Richard
    This stock was between 4 and 5 about 10 months ago. So 12 really looks good. It was close to 20 for most of the last several years.
  • F
    Fact
    Not sure why anyone would sell this stock today. The dividend will go to those who are shareholders of record COB today.
  • N
    Nicholas
    This is such an under rated gem of a stock. Just look at their balance sheet for crying out loud, or cash flow? I hope this company gets some attention in the near future.
  • G
    Gary
    I like the high percentage of insider ownership. This is an easy double within the next 12 months.
  • A
    Alex
    Easy cruise while collecting diva and getting to 18-20$ range .
  • Y
    Yahoo Finance Insights
    PBF Logistics is up 5.73% to 12.00
  • Y
    Yahoo Finance Insights
    PBF Logistics is up 6.61% to 12.25
  • J
    Justin
    After researching this company, I put together the following memo for my friends that I share stock tips with. Please let me know if there is anything I should add or if you disagree with me thoughts.
    Thanks!

    PBF Logistics LP ($PBFX) is a company I’ve had my eye on for a while now. $PBFX is generally viewed as a company that transfers crude oil and petroleum, but the reality is that it also acquires and develops crude oil and refined petroleum terminals, pipelines and storage facilities. $PBFX traded at over $20/share prior to the pandemic, at which point the share price dropped 85%. This drop seemed like an overreaction for a multi-dimensional company that operates at both ends of the crude oil gamut.
    My initial intrigue was based on the fact that $PBFX was unaffected by the massive drop in demand for oil, and actually continued its steady, post-pandemic growth. I now attribute that growth to the storage facility segment of the company. Likewise, when the demand for oil rebounded, $PBFX again continued its steady, post-pandemic growth – unlike Tanker stocks and storage companies. I attribute this to the pipeline and terminal segments of the company. Basically, I believe that $PBFX has proven its resilience on both ends of the spectrum, making it a safe bet for growth in an industry that is otherwise experiencing massive volatility.
    For a stock that is currently trading at close to one-third value, resilience to swings is an attribute that adds confidence to my projection that $PBFX will continue its growth and return to post-pandemic numbers in the near future.
    Now that you’re past the Reader’s Digest version of why $PBFX is a great company, here is why you need to lock in your Call position ASAP:
    $PBFX Earnings Report is scheduled for Friday morning, and I believe they’re going to exceed the already encouraging projections for revenue, EPS and growth. The pre-ER bump is just getting started, and if continues at this pace we’re in for an even bigger bump Friday afternoon. I jumped on the $10 Call option expiring 6/19 as a cheap, low-risk option that could double or even triple in value over the next week.
    Additional Information:
    MKT CAP: 537.42M
    AVG VOL: 716,565
    EPS: $0.50
    REV: $89.53M
    As a final thought, don’t forget that it’s never a bad idea to lock in a big gain. I wouldn’t mind holding onto my 6/19 option through earnings, but if my call option doubles in value before Friday morning I’m probably doing to lock in massive gains and just ride out my stock position through earnings. Hope you guys find this helpful or at least interesting! Good luck!
    Disclosure: Please be aware that I am not a financial advisor, nor do I have any investment related education. I invest purely as a hobby and enjoy sharing my research and documenting my thought processes.
  • D
    David
    Today's market reaction is absurd. PBFX earnings release: Revenue and EPS up (EPS actually up 40%!), share price down 4%. Ok, I get it that investors are worried about the parent company, PBF, which just announced closing down one of its 6 refineries. But PBF itself is up 6% today, meaning that investors welcome the move, probably thinking that would improve its chance of survival. Perhaps investors are happy about the survival chance of PBF but anticipate the closing of the refinery will bring down future PBFX revenue? But I must say this revenue reduction scenario has been priced in already, and many, many times more. This quarter's EPS is $0.71 and this year's earnings estimate is around $2.3-$2.4. The P/E is now only slightly higher than 3.
  • D
    David
    Great results! EPS beats the highest analyst estimate. Revenue only misses by a tiny bit, due to a substantial revenue miss on the part of PBF Energy, but largely compensated by impressive third-party revenue development. I am not bullish on PBF Energy, but it's worst quarter probably has passed and I'm not worried about is survival. This provides a good basis for PBF Logistics to grow and flourish.
  • Y
    Yahoo Finance Insights
    PBF Logistics is down 5.45% to 14.05
  • R
    RalphD
    Why does $PBFX have to sell a 2025 note at 9.25%? The rate seems rather high given high EPS.
  • A
    Aliandro
    Does anybody know where this recent weakness is coming from?

    I've been adding here at just over 8. I can't see why this isn't at 15+, even considering secular risk factors.
  • R
    RalphD
    It seems the new distribution rate of 1.20/sh or 12% is pretty secure. EPS estimates are 1.91 and 2.06 for 2020, 2021.

    After the shock of distribution shock and strong selling, we sit at 9.50. Doesn't this 12% solid yielder deserve a pps of 14?
  • R
    Richard
    I wish that I knew this back in March. I bought a bunch of stock cheap and a friend said to buy PBFX, but only had cash left for 420 shares @4. I could have used margin and bought several thousand shares but didn't have the confidence. I am an old man and try to only buy stocks cheap. Best wishes to you all.
  • D
    David
    Share price off almost 30% in three days. The market has no appreciation of the fact that PBFX has the same earnings power as pre-covid. It is one of the least-affected companies. Will buy more.
  • m
    martin
    With all of their commercial agreements on term contracts, many extending beyond 2025, barring counterparty failure, PBFx is among the best positioned to weather this storm. Their debt leverage is low, and they have a conservative balance sheet.

    Even if (and they have no need to ... ) they reduced dividend as much as 1/2, savings thereby $60M, they would still be yielding 20%.

    The point being that $4/sh pricing of shares at this time is excessive discounting of risks. That was, for all practical purposes, the claim too of UBS analyst who, while cutting share price from $18, kept a BUY $13 target on 25 March.