PBF Energy Inc. $PBF Shares Acquired by First Eagle Investment Management LLC

First Eagle Investment Management LLC increased its position in shares of PBF Energy Inc. (NYSE:PBF) by 7.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 547,546 shares of the oil and gas company’s stock after purchasing an additional 40,129 shares during the period. First Eagle Investment Management LLC’s holdings in PBF Energy were worth $16,519,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PBF. AQR Capital Management LLC boosted its position in shares of PBF Energy by 230.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock worth $45,183,000 after acquiring an additional 1,454,500 shares in the last quarter. Norges Bank purchased a new stake in PBF Energy during the second quarter worth approximately $24,599,000. BNP Paribas Financial Markets boosted its holdings in PBF Energy by 276.2% in the second quarter. BNP Paribas Financial Markets now owns 1,028,799 shares of the oil and gas company’s stock valued at $22,294,000 after purchasing an additional 755,310 shares in the last quarter. Aegis Financial Corp purchased a new position in PBF Energy in the second quarter valued at approximately $13,445,000. Finally, JPMorgan Chase & Co. raised its holdings in PBF Energy by 133.7% during the second quarter. JPMorgan Chase & Co. now owns 1,034,597 shares of the oil and gas company’s stock worth $22,420,000 after purchasing an additional 591,975 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of PBF Energy from $37.00 to $42.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Piper Sandler boosted their price target on shares of PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Zacks Research raised PBF Energy from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Citigroup boosted their target price on PBF Energy from $29.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Tudor Pickering upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, PBF Energy currently has a consensus rating of “Reduce” and an average price target of $30.21.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 480,000 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $35.07, for a total transaction of $16,833,600.00. Following the completion of the transaction, the insider owned 29,583,498 shares in the company, valued at approximately $1,037,493,274.86. This represents a 1.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 2,635,879 shares of company stock valued at $91,446,680. Insiders own 6.70% of the company’s stock.

PBF Energy Stock Performance

NYSE PBF opened at $39.48 on Tuesday. The firm has a market cap of $4.62 billion, a P/E ratio of -26.85, a P/E/G ratio of 4.78 and a beta of 0.41. PBF Energy Inc. has a 52-week low of $13.61 and a 52-week high of $41.47. The business’s 50-day moving average price is $32.11 and its 200 day moving average price is $31.38. The company has a quick ratio of 0.51, a current ratio of 1.21 and a debt-to-equity ratio of 0.40.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, February 12th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.15) by $0.64. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The firm had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the prior year, the business earned ($2.82) EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 25th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Wednesday, February 25th. PBF Energy’s dividend payout ratio (DPR) is -74.83%.

PBF Energy Company Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.