SG Americas Securities LLC increased its holdings in PBF Energy Inc. (NYSE:PBF – Free Report) by 687.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,800 shares of the oil and gas company’s stock after acquiring an additional 50,463 shares during the quarter. SG Americas Securities LLC’s holdings in PBF Energy were worth $2,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of PBF. Moneta Group Investment Advisors LLC bought a new position in shares of PBF Energy in the 4th quarter worth about $412,454,000. Norges Bank bought a new position in shares of PBF Energy in the 4th quarter worth about $43,996,000. Vanguard Group Inc. increased its stake in shares of PBF Energy by 9.6% in the 1st quarter. Vanguard Group Inc. now owns 12,265,760 shares of the oil and gas company’s stock worth $298,916,000 after acquiring an additional 1,077,287 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in PBF Energy by 44.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,004,478 shares of the oil and gas company’s stock valued at $122,523,000 after purchasing an additional 931,301 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in PBF Energy by 253.1% during the 1st quarter. AQR Capital Management LLC now owns 1,156,262 shares of the oil and gas company’s stock valued at $49,569,000 after purchasing an additional 828,787 shares in the last quarter. 89.56% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms have weighed in on PBF. Mizuho raised their price objective on shares of PBF Energy from $54.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday. Wells Fargo & Company raised their price objective on shares of PBF Energy from $56.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, September 8th. The Goldman Sachs Group raised their price objective on shares of PBF Energy from $48.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, September 1st. Morgan Stanley restated an “equal weight” rating and set a $50.00 price objective on shares of PBF Energy in a research note on Wednesday, July 19th. Finally, StockNews.com upgraded shares of PBF Energy from a “hold” rating to a “buy” rating in a research note on Monday, September 11th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, PBF Energy presently has a consensus rating of “Hold” and a consensus price target of $55.67.
Insider Buying and Selling at PBF Energy
In other news, SVP Connor Thomas L. O sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $54.84, for a total transaction of $2,742,000.00. Following the transaction, the senior vice president now owns 117,503 shares of the company’s stock, valued at $6,443,864.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 5.30% of the company’s stock.
PBF Energy Stock Performance
NYSE PBF opened at $52.90 on Thursday. PBF Energy Inc. has a twelve month low of $28.55 and a twelve month high of $55.85. The company has a quick ratio of 0.81, a current ratio of 1.47 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of $47.74 and a 200-day moving average price of $42.28. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 2.20 and a beta of 1.92.
PBF Energy (NYSE:PBF – Get Free Report) last issued its quarterly earnings data 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. PBF Energy had a return on equity of 42.15% and a net margin of 7.36%. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $8.93 billion. During the same period in the prior year, the business posted $10.58 earnings per share. The company’s quarterly revenue was down 34.9% compared to the same quarter last year. As a group, equities research analysts predict that PBF Energy Inc. will post 10.27 EPS for the current fiscal year.
PBF Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, August 16th. This represents a $0.80 dividend on an annualized basis and a yield of 1.51%. PBF Energy’s dividend payout ratio (DPR) is presently 3.33%.
About PBF Energy
PBF Energy Inc, together with its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.
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