Mitsubishi UFJ Trust & Banking Corp lessened its stake in PBF Energy Inc. (NYSE:PBF – Free Report) by 39.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,663 shares of the oil and gas company’s stock after selling 12,291 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in PBF Energy were worth $809,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in PBF Energy during the first quarter valued at $48,000. IFP Advisors Inc boosted its holdings in shares of PBF Energy by 250.0% during the first quarter. IFP Advisors Inc now owns 1,057 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 755 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of PBF Energy by 57.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,386 shares of the oil and gas company’s stock valued at $57,000 after acquiring an additional 507 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of PBF Energy during the first quarter valued at $76,000. Finally, Spire Wealth Management boosted its holdings in shares of PBF Energy by 41.0% during the first quarter. Spire Wealth Management now owns 2,207 shares of the oil and gas company’s stock valued at $96,000 after acquiring an additional 642 shares during the period. Institutional investors own 82.02% of the company’s stock.
Wall Street Analysts Forecast Growth
PBF has been the subject of several research analyst reports. StockNews.com initiated coverage on shares of PBF Energy in a report on Sunday. They issued a “hold” rating for the company. TheStreet raised shares of PBF Energy from a “c” rating to a “b-” rating in a report on Tuesday, May 16th. Wells Fargo & Company upped their price objective on shares of PBF Energy from $47.00 to $56.00 in a report on Friday, August 4th. Bank of America downgraded shares of PBF Energy from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $46.00 to $56.00 in a report on Tuesday, August 15th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $50.00 price objective on shares of PBF Energy in a report on Wednesday, July 19th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, PBF Energy currently has an average rating of “Hold” and a consensus target price of $51.50.
PBF Energy Trading Down 1.5 %
PBF Energy stock opened at $45.67 on Thursday. The company has a 50 day moving average price of $43.64 and a 200 day moving average price of $41.19. PBF Energy Inc. has a 52 week low of $27.00 and a 52 week high of $50.43. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.81 and a current ratio of 1.47. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 1.90 and a beta of 1.92.
PBF Energy (NYSE:PBF – Get Free Report) last issued its earnings results on Thursday, August 3rd. The oil and gas company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.07. The company had revenue of $9.16 billion during the quarter, compared to analyst estimates of $8.93 billion. PBF Energy had a net margin of 7.36% and a return on equity of 42.15%. The company’s revenue for the quarter was down 34.9% on a year-over-year basis. During the same quarter last year, the business posted $10.58 EPS. Research analysts forecast that PBF Energy Inc. will post 9.76 EPS for the current year.
PBF Energy Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Wednesday, August 16th. PBF Energy’s dividend payout ratio (DPR) is currently 3.33%.
About PBF Energy
PBF Energy, Inc engages in the operation of a petroleum refinery and supplies unbranded transportation fuels, heating oil, petrochemical feed stocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment involves refining crude oil and other feed stocks into petroleum products.
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