PBF Logistics LP

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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.

  • PBFX Symbol
  • NYSE Exchange
  • 82 Employees
3 rated
  • $11.23, +$0.70 (+6.65%) Previous Close
  • 290,469 Previous Volume
  • $3.06 / $22.00 52 week low / high
  • -48.95% Percent off 52 week high
  • 2020-06-02 Updated
  • 16.52% Dividend yield (trailing)
  • 2.67% Dividend yield (forward)
  • 23,371,472 Public float
  • 62,348,200 Outstanding shares
  • 5.91 P/E
  • 656.53 M Market Cap
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Financial data

The information is not 100% up-to-date. There may be errors or something missing. Often something is missing, there are almost no errors, but I can't rule them out. Now I'm looking for a supplier of high-quality information, but so far what I find is expensive (about $ 2000 a year).
19 ← 15 2019-12 2018-12 2017-12 2016-12 2015-12
Total Revenue
340M 280M 250M 190M 140M
Cost Of Revenue
160M 120M 90M 58M 32M
Gross Profit
180M 170M 160M 130M 110M
Research and Development
Selling General and Admin
Operating Expense
180M 140M 110M 72M 45M
Operating Income
160M 150M 150M 120M 97M
Other Income Expense Net
-50M -46M -34M -34M -22M
EBIT
160M 150M 150M 120M 97M
Interest Income
51M 43M 33M 30M 21M
Pretax Income
110M 100M 110M 82M 75M
Income Tax
Minority Interest
7.9M 28M 15M 5.7M 0
Net Income
100M 75M 91M 81M 74M
Net Income Basic
100M 75M 91M 81M 74M
19 ← 15 2019-12 2018-12 2017-12 2016-12 2015-12
Current cash
35M 20M 20M 64M 19M
Short term investments
40M
Receivables
55M 45M 42M 42M 24M
Inventory
Other current assets
3.8M 4.6M 1.8M 1.7M 470K
Current assets
94M 69M 64M 150M 43M
Long term investments
230M
Property plant equipment
850M 860M 670M 600M 150M
Goodwill
6.3M 6.3M
Intangible assets
17M
Other assets
360K 19M 30K
Total assets
970M 960M 740M 750M 420M
Accounts payable
17M 63M 28M 26M 8.9M
Current long term debt
40M
Other current liabilities
31M 3M 1.9M 950K
Total current liabilities
48M 66M 30M 67M 8.9M
Long term debt
800M 670M 550M 530M 600M
Other liabilities
18M 24M 2.1M 3.2M
Minority Interest
7.9M 28M 15M 5.7M 0
Total Liabilities
870M 760M 580M 600M 610M
Common stock
62M 45M 42M 42M 34M
Retained earning
Treasury stock
37M 23M 7.5M 4M 3.7M
Capital surplus
Shareholder equity
110M 24M -15M -34M -190M
Net tangible assets
73M 17M -15M -34M -190M
19 ← 15 2019-12 2018-12 2017-12 2016-12 2015-12
Net Income
100M 75M 91M 81M 74M
Depreciation
39M 30M 24M 14M 6.6M
Changes in receivables
-11M -2.3M -83K -18M
Changes in inventories
Cash change
15M 240K -45M 46M 4.5M
Cash flow
150M 130M 140M 100M 79M
Capital expenditures
-32M -180M -79M -16M -2M
Investments
40M 190M 700K
Investing activity other
Total investing cash flows
-230M -180M -50M 80M -1.3M
Dividends paid
-120M -120M -110M -240M -160M
Net borrowings
130M 130M -36M -30M 90M
Other financing cash flows
-38M 4.2M 5.5M 350K
Cash flow financing
98M 46M -140M -130M -73M
Exchange rate effect

Dividends

Dividends represent one part of the company’s profits from the previous period. The company distributes them between its owner-shareholders. Businesses may pay out dividends, but they are not obliged to. The method that is used to calculate the dividend is described in the company's dividend policy or articles of association. The clearer and more transparent the calculation principle, the more investors love the company. Many factors affect whether dividends are paid out. The main ones are the need for financing by major shareholders and tax optimization. So, if the state in the person of a fund or state-supported organization is one of the shareholders, the payment of regular dividends is practically guaranteed. The same is true, but to a lesser extent, in the case of a serious debt burden that is incurred by one of the business owners.

It makes no sense to discuss the abstract amount of dividends for the period in isolation of the company's financial indicators, business development prospects, payment history, and current share price. It is important to analyze and understand the reasons for dividend payments and to be skeptical about an unusually high dividend yield. This may be a one-off exceptional case. You will find information about dividends, historical dividend yield, and recovery of the stock price after PBF Logistics LP made payouts below.

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Dividend History

The dividend payment history is important to analyze when compiling an investment portfolio from which an investor seeks to receive regular income. If the company can make stable payments, this is an indicator that the company is in a good state of affairs. It may happen that the management and the main business owners refuse to pay dividends and instead opt to distribute profits in order to reduce credit commitments or invest in new projects. But the existence of a stable payout history of increasing dividends is a feather in the company's cap. Some issuers pay dividends 2 times a year or even quarterly, which creates a constant cash flow for shareholders. This additionally bolsters the stock price. The dividend payment statistics and the amount of these payments by PBF Logistics LP are presented in the table and graph below.

Statistics for 5 years: 2015-2020

Frequency of payments, how many times a year 4
Duration of growth, the number of years 4
Stability of the payments 1.0
Stability of dividend growth 0.8
Dividend growth, simple 84.68 %
Dividend growth, CAGR 13.05 %
Average dividend $0.46
Average dividends per year $1.74
Average dividend yield 2.26 %
Average dividend yield per year 8.40 %
Minimum $0.35 (2015-05-29)
Maximum $0.52 (2019-11-26)
Dividend History, PBF Logistics LP (PBFX)
Declared Date Ex-Dividend Date Record date Pay Date Frequency Payout Amount Yield
2020-05-15 2020-05-26 2020-05-27 2020-06-17 quarterly $0.30 -
2020-02-13 2020-02-24 2020-02-25 2020-03-17 quarterly $0.52 8.25%
2019-10-31 2019-11-13 2019-11-14 2019-11-26 quarterly $0.52 2.56%
2019-08-01 2019-08-14 2019-08-15 2019-08-30 Quarterly $0.52 2.48%
2019-05-01 2019-05-14 2019-05-15 2019-05-30 Quarterly $0.51 2.55%
2019-02-14 2019-02-28 2019-03-01 2019-03-14 Quarterly $0.50 2.41%
2018-10-31 2018-11-14 2018-11-15 2018-11-30 Quarterly $0.50 2.49%
2018-08-02 2018-08-14 2018-08-15 2018-08-30 Quarterly $0.50 2.31%
2018-05-03 2018-05-14 2018-05-15 2018-05-30 Quarterly $0.49 2.47%
2018-02-15 2018-02-27 2018-02-28 2018-03-14 Quarterly $0.48 2.44%
2017-11-02 2017-11-10 2017-11-13 2017-11-29 Quarterly $0.48 2.46%
2017-08-03 2017-08-11 2017-08-15 2017-08-31 Quarterly $0.47 2.15%
2017-05-04 2017-05-12 2017-05-16 2017-05-31 Quarterly $0.46 2.35%
2017-02-16 2017-02-23 2017-02-27 2017-03-13 Quarterly $0.45 2.15%
2016-10-28 2016-11-04 2016-11-08 2016-11-22 Quarterly $0.44 2.49%
2016-07-29 2016-08-05 2016-08-09 2016-08-23 Quarterly $0.43 2.14%
2016-04-28 2016-05-11 2016-05-13 2016-05-31 Quarterly $0.42 1.93%
2016-02-11 2016-02-18 2016-02-22 2016-03-08 Quarterly $0.41 2.26%
2015-10-29 2015-11-11 2015-11-13 2015-11-30 Quarterly $0.39 1.98%
2015-07-20 2015-08-12 2015-08-14 2015-08-31 Quarterly $0.37 1.78%
2015-04-30 2015-05-13 2015-05-15 2015-05-29 Quarterly $0.35 1.51%
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Stock Price Recovery History

To receive dividends, you must be a company shareholder as of a certain date as determined by the company's Board of Directors. This date is the closing of the shareholder register book or the “dividend cut-off”. On the day following the cut-off, the stock price falls by about the amount of the declared dividend. This is the "dividend gap". Investors are always interested in the following question: how quickly will the company's shares recover from this drop? The more frequently the company pays dividends, the faster the stock price recovers. Many factors influence how quickly the dividend gap is bridged: the news that is released by the company, its expected reporting figures, the purchase/sale of shares by the company's management and large owners, industry events, etc. Historical data about how quickly the PBF Logistics LP share price has recovered in the past are presented in the table below:

Stock Price Recovery History, PBF Logistics LP (PBFX)
Ex-Dividend Date Payout Amount Stock Price Days Taken For Stock Price to Recover
2020-05-26 $0.30 $10.51 6
2020-02-24 $0.52 - -
2019-11-13 $0.52 $21.47 63
2019-08-14 $0.52 $20.04 6
2019-05-14 $0.51 $20.03 6
2019-02-28 $0.50 $21.84 145
2018-11-14 $0.50 $21.10 5
2018-08-14 $0.50 $21.80 9
2018-05-14 $0.49 $19.90 17
2018-02-27 $0.48 $19.70 2
2017-11-10 $0.48 $19.50 6
2017-08-11 $0.47 $21.50 14
2017-05-12 $0.46 $20.00 3
2017-02-23 $0.45 $22.25 526
2016-11-04 $0.44 $17.70 3
2016-08-05 $0.43 $22.07 200
2016-05-11 $0.42 $20.28 1
2016-02-18 $0.41 $15.77 1
2015-11-11 $0.39 $20.88 48
2015-08-12 $0.37 $22.17 295
2015-05-13 $0.35 $24.38 1
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Historical Annual Dividend Data & Growth

When selecting shares for purchase, investors are interested in how do company managers and major shareholders view the payment of dividends. Were dividends paid in previous years, and, if so, then to what extent? What was the dividend yield, i.e., the ratio of the amount of the dividend and stock price at the time of payment? Is there a tendency to increase the amount of the dividend both in absolute terms and as a % from year to year? For the investor, this is a guarantee of the company's reliability and a demonstration of its stability. If the company has paid dividends over the course of many years, the amounts of payments will increase. This establishes trust with shareholders, and it has a positive effect on the overall image of the company. The table below shows the payment history and dividend yield for PBF Logistics LP:

Historical Annual Dividend Data & Growth, PBF Logistics LP (PBFX)
Year Last Stock Price Avg stock price Dividend Sum Dividend Yield (at avg price) Dividend Yield (at last price)
2020 $11.23 $12.74 $0.82 6.44% 7.30%
2019 $20.46 $21.06 $2.05 9.73% 10.02%
2018 $20.10 $20.80 $1.97 9.47% 9.80%
2017 $20.95 $20.36 $1.86 9.14% 8.88%
2016 $18.20 $19.85 $1.70 8.56% 9.34%
2015 $21.36 $21.81 $1.11 5.09% 5.20%

SWOT

A SWOT analysis is a technique that allows you to conduct a comprehensive express overview of a company. Look at the strengths and weaknesses of the business, and evaluate external opportunities and threats. The result of the analysis is clear, and it will help you to make the right decision. Registered users can compile a SWOT analysis for any issuer. But it should be understood that how facts are distributed on graphs can be subjective. For example, a decision to make large capital expenditures may be a weakness for the company today, but they may offer growth opportunities and competitive advantages in the future. Or if the state participates as a shareholder, then this is a guarantee of stability and reliability. However, this factor may limit the development of the company and expose it to geopolitical risks.

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News PBF Logistics LP

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