What Will Happen to PBF Logistics LP (PBFX) Next? The Stock Formed a Several Months Bullish Multiple Top Pattern

July 27, 2018 - By Mark Babin

PBF Logistics LP (NYSE:PBFX) Logo

Investors sentiment decreased to 0.41 in 2018 Q1. Its down 1.03, from 1.44 in 2017Q4. It is negative, as 7 investors sold PBF Logistics LP shares while 20 reduced holdings. 4 funds opened positions while 7 raised stakes. 13.45 million shares or 4.20% less from 14.04 million shares in 2017Q4 were reported.
Bnp Paribas Arbitrage Sa reported 0% of its portfolio in PBF Logistics LP (NYSE:PBFX). M&T Bancshares Corp invested in 0% or 23,400 shares. Metropolitan Life Ins Ny accumulated 114,774 shares or 0% of the stock. First Lp invested in 0.01% or 306,472 shares. Gsa Capital Ltd Liability Partnership, United Kingdom-based fund reported 16,125 shares. Wells Fargo & Mn invested 0% in PBF Logistics LP (NYSE:PBFX). Harvest Fund Advsrs Limited Liability Corporation owns 1.31 million shares for 0.28% of their portfolio. Avalon Ltd Limited Liability Company holds 0.02% in PBF Logistics LP (NYSE:PBFX) or 42,478 shares. 23,690 are held by Citigroup. State Of New Jersey Common Pension Fund D reported 108,700 shares. Deutsche Financial Bank Ag holds 0% or 101,793 shares in its portfolio. Hotchkis & Wiley Capital Management Ltd accumulated 60,722 shares. Morgan Stanley holds 0% of its portfolio in PBF Logistics LP (NYSE:PBFX) for 390,527 shares. 138,981 are owned by Green Square Ltd Liability. Bancshares Of America Corporation De stated it has 67,479 shares or 0% of all its holdings.

Since June 5, 2018, it had 1 buying transaction, and 0 selling transactions for $13,358 activity.

The stock of PBF Logistics LP (PBFX) shows a multiple tops pattern with $23.16 target or 9.00 % above today’s $21.25 share price. The 7 months chart pattern indicates low risk for the $894.09 million company. It was reported on Jul, 27 by Finviz.com. If the $23.16 price target is reached, the company will be worth $80.47M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.71% or $0.15 during the last trading session, reaching $21.25. About 69,873 shares traded. PBF Logistics LP (NYSE:PBFX) has declined 1.50% since July 27, 2017 and is downtrending. It has underperformed by 14.07% the S&P500.

Analysts await PBF Logistics LP (NYSE:PBFX) to report earnings on August, 2 before the open. They expect $0.44 EPS, down 10.20 % or $0.05 from last year’s $0.49 per share. PBFX’s profit will be $18.51 million for 12.07 P/E if the $0.44 EPS becomes a reality. After $0.43 actual EPS reported by PBF Logistics LP for the previous quarter, Wall Street now forecasts 2.33 % EPS growth.

Another recent and important PBF Logistics LP (NYSE:PBFX) news was published by Seekingalpha.com which published an article titled: “PBF Logistics buys East Coast storage assets for $107M” on July 17, 2018.

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. The company has market cap of $894.09 million. It operates through Transportation and Terminaling, and Storage divisions. It has a 10.34 P/E ratio. The company's assets include Delaware City rail unloading terminal, a light crude oil rail unloading terminal, which serves Delaware City and Paulsboro refineries; Toledo truck unloading Terminal, that serves Toledo refinery; Delaware City west heavy unloading rack, a heavy crude oil unloading facility, which serves Delaware City refinery; and a terminaling facility that consists of 27 propane storage bullets and a truck loading facility.

PBF Logistics LP (NYSE:PBFX) Institutional Positions Chart

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