UBS Asset Management Americas Inc. Acquires 1,197,940 Shares of PBF Energy Inc. (NYSE:PBF)

Posted by on Mar 13th, 2023

UBS Asset Management Americas Inc. increased its holdings in shares of PBF Energy Inc. (NYSE:PBF – Get Rating) by 684.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,372,847 shares of the oil and gas company’s stock after acquiring an additional 1,197,940 shares during the period. UBS Asset Management Americas Inc. owned about 1.12% of PBF Energy worth $48,269,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Crossmark Global Holdings Inc. grew its position in PBF Energy by 2.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,310 shares of the oil and gas company’s stock worth $327,000 after acquiring an additional 260 shares during the last quarter. Kestra Advisory Services LLC grew its position in PBF Energy by 1.5% during the 3rd quarter. Kestra Advisory Services LLC now owns 23,427 shares of the oil and gas company’s stock worth $824,000 after acquiring an additional 341 shares during the last quarter. Quadrant Capital Group LLC boosted its position in PBF Energy by 17.6% in the 2nd quarter. Quadrant Capital Group LLC now owns 2,900 shares of the oil and gas company’s stock valued at $84,000 after buying an additional 433 shares during the last quarter. Captrust Financial Advisors boosted its position in PBF Energy by 9.8% in the 2nd quarter. Captrust Financial Advisors now owns 7,460 shares of the oil and gas company’s stock valued at $216,000 after buying an additional 668 shares during the last quarter. Finally, KBC Group NV boosted its position in PBF Energy by 8.3% in the 3rd quarter. KBC Group NV now owns 9,200 shares of the oil and gas company’s stock valued at $323,000 after buying an additional 708 shares during the last quarter. 90.69% of the stock is currently owned by institutional investors.

PBF Energy Stock Performance

Shares of PBF Energy stock opened at $44.28 on Monday. The stock’s fifty day simple moving average is $42.07 and its 200 day simple moving average is $40.08. PBF Energy Inc. has a 12 month low of $19.23 and a 12 month high of $49.00. The company has a market capitalization of $5.71 billion, a PE ratio of 1.95 and a beta of 1.92. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 0.30.

PBF Energy (NYSE:PBF – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The oil and gas company reported $4.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.95 by ($0.54). PBF Energy had a net margin of 6.14% and a return on equity of 72.79%. The firm had revenue of $10.85 billion during the quarter, compared to analyst estimates of $9.71 billion. During the same period in the prior year, the business earned $1.28 EPS. The business’s revenue for the quarter was up 31.6% compared to the same quarter last year. On average, research analysts predict that PBF Energy Inc. will post 10.44 EPS for the current year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 16th. Investors of record on Wednesday, March 1st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, February 28th. PBF Energy’s dividend payout ratio is currently 3.52%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PBF. UBS Group began coverage on PBF Energy in a research report on Wednesday, March 8th. They issued a “neutral” rating and a $53.00 price objective on the stock. StockNews.com lowered PBF Energy from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 15th. Morgan Stanley raised their price target on PBF Energy from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, January 20th. JPMorgan Chase & Co. raised their price target on PBF Energy from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, January 9th. Finally, Wells Fargo & Company reduced their price target on PBF Energy from $59.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, January 5th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, PBF Energy currently has a consensus rating of “Hold” and a consensus price target of $44.31.

About PBF Energy

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PBF Energy, Inc engages in the operation of a petroleum refiner and supplies unbranded transportation fuels, heating oil, petrochemical feed stocks, lubricants, and other petroleum products in the United States. It operates through the following segments: Refining and Logistics. The Refining segment refines crude oil and other feed stocks into petroleum products.

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Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

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