NYSE:PBFX

Stock Analysis Report

Executive Summary

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.

Rewards


Snowflake Analysis


Similar Companies

Share Price & News

How has PBF Logistics's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PBFX has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.4%

PBFX

0.8%

US Oil and Gas

-0.3%

US Market


1 Year Return

-2.5%

PBFX

-10.2%

US Oil and Gas

18.6%

US Market

Return vs Industry: PBFX exceeded the US Oil and Gas industry which returned -10.2% over the past year.

Return vs Market: PBFX underperformed the US Market which returned 18.6% over the past year.


Shareholder returns

PBFXIndustryMarket
7 Day-0.4%0.8%-0.3%
30 Day-5.8%-2.1%2.2%
90 Day-1.4%0.4%5.6%
1 Year7.4%-2.5%-7.0%-10.2%21.1%18.6%
3 Year43.5%8.3%-12.4%-20.4%45.6%36.2%
5 Year57.1%1.8%-7.7%-21.4%71.1%52.2%

Price Volatility Vs. Market

How volatile is PBF Logistics's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is PBF Logistics undervalued compared to its fair value and its price relative to the market?

40.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PBFX ($20.36) is trading below our estimate of fair value ($33.95)

Significantly Below Fair Value: PBFX is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: PBFX is poor value based on its PE Ratio (12x) compared to the Oil and Gas industry average (9.9x).

PE vs Market: PBFX is good value based on its PE Ratio (12x) compared to the US market (18.5x).


Price to Earnings Growth Ratio

PEG Ratio: PBFX is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: PBFX is overvalued based on its PB Ratio (11.8x) compared to the US Oil and Gas industry average (0.8x).

Future Growth

How is PBF Logistics forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

14.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PBFX's forecast earnings growth (14% per year) is above the savings rate (1.7%).

Earnings vs Market: PBFX's earnings (14% per year) are forecast to grow slower than the US market (14.2% per year).

High Growth Earnings: PBFX's earnings are forecast to grow, but not significantly.

Revenue vs Market: PBFX's revenue (3.6% per year) is forecast to grow slower than the US market (7.4% per year).

High Growth Revenue: PBFX's revenue (3.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PBFX's Return on Equity is forecast to be very high in 3 years time (136.3%).

Past Performance

How has PBF Logistics performed over the past 5 years?

10.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PBFX has high quality earnings.

Growing Profit Margin: PBFX's current net profit margins (28.1%) are higher than last year (27.6%).


Past Earnings Growth Analysis

Earnings Trend: PBFX has become profitable over the past 5 years, growing earnings by 10.4% per year.

Accelerating Growth: PBFX's earnings growth over the past year (23.7%) exceeds its 5-year average (10.4% per year).

Earnings vs Industry: PBFX earnings growth over the past year (23.7%) exceeded the Oil and Gas industry -15.6%.


Return on Equity

High ROE: Whilst PBFX's Return on Equity (97.89%) is outstanding, this metric is skewed due to their high level of debt.


Return on Assets


Return on Capital Employed

Financial Health

How is PBF Logistics's financial position?


Financial Position Analysis

Short Term Liabilities: PBFX's short term assets ($129.0M) exceed its short term liabilities ($75.6M).

Long Term Liabilities: PBFX's short term assets ($129.0M) do not cover its long term liabilities ($827.6M).


Debt to Equity History and Analysis

Debt Level: PBFX's debt to equity ratio (748.3%) is considered high.

Reducing Debt: PBFX had negative shareholder equity 5 years ago, but is now positive and has therefore improved.

Debt Coverage: PBFX's debt is not well covered by operating cash flow (13.9%).

Interest Coverage: PBFX's interest payments on its debt are well covered by EBIT (3.3x coverage).


Balance Sheet

Inventory Level: PBFX has a high level of physical assets or inventory.

Debt Coverage by Assets: PBFX's debt is not covered by short term assets (assets are 0.2x debt).

Dividend

What is PBF Logistics's current dividend yield, its reliability and sustainability?

10.22%

Current Dividend Yield


Dividend Yield vs Market

company10.2%marketbottom25%1.4%markettop25%3.7%industryaverage4.2%forecastin3Years10.7%

Current dividend yield vs market & industry

Notable Dividend: PBFX's dividend (10.22%) is higher than the bottom 25% of dividend payers in the US market (1.42%).

High Dividend: PBFX's dividend (10.22%) is in the top 25% of dividend payers in the US market (3.7%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, PBFX has been paying a dividend for less than 10 years.

Growing Dividend: PBFX's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (120.9%), PBFX's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PBFX's dividends in 3 years are not forecast to be well covered by earnings (105.4% payout ratio).

Management

What is the CEO of PBF Logistics's salary, the management and board of directors tenure and is there insider trading?

5.2yrs

Average management tenure


CEO

Tom Nimbley (68yo)

6.9yrs

Tenure

US$398,000

Compensation

Mr. Thomas J. Nimbley, also known as Tom, serves as the Chief Executive Officer at Paulsboro Refining Company LLC. Mr. Nimbley has been the Chief Executive Officer of PBF Logistics GP LLC and Director of G ...


CEO Compensation Analysis

Compensation vs Market: Tom's total compensation ($USD398.00K) is below average for companies of similar size in the US market ($USD3.87M).

Compensation vs Earnings: Tom's compensation has been consistent with company performance over the past year.


Management Age and Tenure

5.2yrs

Average Tenure

57yo

Average Age

Experienced Management: PBFX's management team is seasoned and experienced (5.2 years average tenure).


Board Age and Tenure

5.6yrs

Average Tenure

64yo

Average Age

Experienced Board: PBFX's board of directors are considered experienced (5.6 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$9,33805 Sep 19
Bruce Jones
EntityIndividual
Role
Member of the Board of Directors
Director of PBF Logistics GP
Shares450
Max PriceUS$20.75
BuyUS$98,94220 Aug 19
Karen Davis
EntityIndividual
Role
Member of the Board of Directors
Independent Director of PBF Logistics GP LLC
Shares5,000
Max PriceUS$19.85
BuyUS$28,45627 Mar 19
David Roush
EntityIndividual
Role
Member of the Board of Directors
Director of PBF Logistics GP
Shares1,351.59
Max PriceUS$21.40
SellUS$140,83204 Mar 19
David Roush
EntityIndividual
Role
Member of the Board of Directors
Director of PBF Logistics GP
Shares6,500
Max PriceUS$21.67

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 10.3%.


Management Team

  • C. Young (42yo)

    Senior VP

    • Tenure: 3.2yrs
    • Compensation: US$248.75k
  • Herman Seedorf (67yo)

    Senior Vice President

    • Tenure: 0yrs
  • Jeffrey Dill (58yo)

    Assistant Secretary of PBF Logistics GP LLC & President of Western Region - PBF Logistics GP LLC

    • Tenure: 4.3yrs
    • Compensation: US$247.50k
  • Matt Lucey (46yo)

    Executive VP & Director of PBF Logistics GP

    • Tenure: 6.9yrs
    • Compensation: US$298.50k
  • Colin Murray

    Head of Investor Relations

    • Tenure: 0yrs
  • Tom Nimbley (68yo)

    Chairman & CEO of PBF Logistics GP

    • Tenure: 6.9yrs
    • Compensation: US$398.00k
  • Timothy Davis (57yo)

    Assistant Secretary of PBF Logistics GP

    • Tenure: 0yrs
    • Compensation: US$248.75k
  • Tom O'Connor (46yo)

    Senior Vice President - Commercial of PBF Logistics GP

    • Tenure: 0yrs
  • John Barone (61yo)

    Chief Accounting Officer of PBF Logistics GP LLC

    • Tenure: 0yrs
  • Trecia Canty (49yo)

    Senior VP

    • Tenure: 5.2yrs
    • Compensation: US$248.75k

Board Members

  • C. Young (42yo)

    Senior VP

    • Tenure: 3.2yrs
    • Compensation: US$248.75k
  • Mike Gayda (64yo)

    Director of PBF Logistics GP

    • Tenure: 6.9yrs
    • Compensation: US$110.50k
  • Bruce Jones (65yo)

    Director of PBF Logistics GP

    • Tenure: 5.6yrs
    • Compensation: US$148.00k
  • Dave Roush (65yo)

    Director of PBF Logistics GP

    • Tenure: 5.6yrs
    • Compensation: US$158.00k
  • Matt Lucey (46yo)

    Executive VP & Director of PBF Logistics GP

    • Tenure: 6.9yrs
    • Compensation: US$298.50k
  • Tom Nimbley (68yo)

    Chairman & CEO of PBF Logistics GP

    • Tenure: 6.9yrs
    • Compensation: US$398.00k
  • Karen Davis (62yo)

    Independent Director of PBF Logistics GP LLC

    • Tenure: 2yrs
    • Compensation: US$148.00k

Company Information

PBF Logistics LP's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: PBF Logistics LP
  • Ticker: PBFX
  • Exchange: NYSE
  • Founded: 2013
  • Industry: Oil and Gas Storage and Transportation
  • Sector: Energy
  • Market Cap: US$1.271b
  • Shares outstanding: 62.11m
  • Website: https://www.pbflogistics.com

Number of Employees


Location

  • PBF Logistics LP
  • One Sylvan Way
  • Second Floor
  • Parsippany
  • New Jersey
  • 7054
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PBFXNYSE (New York Stock Exchange)YesCommon UnitsUSUSDMay 2014
11PDB (Deutsche Boerse AG)YesCommon UnitsDEEURMay 2014

Biography

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 operat ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/07 00:31
End of Day Share Price2019/12/06 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.