Entropy Technologies LP Makes New Investment in PBF Energy Inc. $PBF

Entropy Technologies LP purchased a new stake in shares of PBF Energy Inc. (NYSE:PBF) in the first quarter, HoldingsChannel reports. The institutional investor purchased 62,255 shares of the oil and gas company’s stock, valued at approximately $2,965,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake in shares of PBF Energy by 127.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after purchasing an additional 3,550,820 shares during the period. Invesco Ltd. boosted its holdings in shares of PBF Energy by 147.4% in the third quarter. Invesco Ltd. now owns 2,772,258 shares of the oil and gas company’s stock worth $83,639,000 after buying an additional 1,651,516 shares during the last quarter. AQR Capital Management LLC grew its position in PBF Energy by 230.7% during the second quarter. AQR Capital Management LLC now owns 2,085,060 shares of the oil and gas company’s stock valued at $45,183,000 after buying an additional 1,454,500 shares during the period. Norges Bank bought a new stake in PBF Energy during the fourth quarter valued at approximately $34,243,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in PBF Energy by 2,198.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,212,368 shares of the oil and gas company’s stock valued at $36,577,000 after buying an additional 1,159,628 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Performance

PBF opened at $61.74 on Friday. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 0.10 and a beta of 0.11. The company has a fifty day moving average of $46.67 and a 200 day moving average of $41.64. PBF Energy Inc. has a fifty-two week low of $21.24 and a fifty-two week high of $68.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.32 billion. PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the company earned ($3.53) EPS. As a group, sell-side analysts forecast that PBF Energy Inc. will post 10.94 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Thursday, May 14th. PBF Energy’s payout ratio is currently 29.65%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PBF shares. Wall Street Zen upgraded shares of PBF Energy from a “hold” rating to a “buy” rating in a research report on Wednesday. BMO Capital Markets upped their price objective on PBF Energy from $43.00 to $50.00 and gave the stock a “market perform” rating in a research note on Thursday, April 2nd. Zacks Research raised PBF Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday. Mizuho raised their target price on PBF Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Finally, Citigroup lifted their target price on PBF Energy from $43.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $45.62.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital sold 570,000 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $46.36, for a total transaction of $26,425,200.00. Following the completion of the transaction, the insider directly owned 17,142,128 shares of the company’s stock, valued at approximately $794,709,054.08. This represents a 3.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 3,541,570 shares of company stock worth $165,787,386 over the last three months. 5.50% of the stock is currently owned by corporate insiders.

Trending Headlines about PBF Energy

Here are the key news stories impacting PBF Energy this week:

• Positive Sentiment: PBF was added to multiple Zacks Rank #1 (Strong Buy) lists on July 24, including momentum, value, income, and general strong-buy screens, which can boost trader interest and signal improving analyst sentiment. Article Title
• Positive Sentiment: Several Zacks pieces highlighted PBF as a top-ranked growth, value, income, and momentum stock, reinforcing the idea that the name is screening well across multiple investment styles. Article Title
• Positive Sentiment: PBF was featured in a “Best Momentum Stocks” article and noted as being up strongly over the past week, suggesting short-term buying momentum remains intact. Article Title
• Neutral Sentiment: One article compared PBF’s year-to-date performance with peers like Phillips 66, which is mainly a relative-performance check and not a direct catalyst. Article Title
• Neutral Sentiment: Another note said PBF does not have the ideal setup for a likely earnings beat ahead of next week’s report, so investors may remain cautious until the company releases results. Article Title
• Negative Sentiment: Seeking Alpha published an earnings preview titled “Don’t Get Trapped At The Top”, which suggests some skepticism about upside after the recent run-up. Article Title

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.