Empowered Funds LLC Purchases 236,418 Shares of PBF Energy Inc. $PBF

Empowered Funds LLC lifted its position in PBF Energy Inc. (NYSE:PBF) by 198.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 355,820 shares of the oil and gas company’s stock after acquiring an additional 236,418 shares during the period. Empowered Funds LLC’s holdings in PBF Energy were worth $16,944,000 as of its most recent SEC filing.

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

PBF Energy Price Performance

NYSE PBF opened at $61.22 on Wednesday. The business’s fifty day moving average price is $47.45 and its 200-day moving average price is $42.20. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 0.10 and a beta of 0.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62. PBF Energy Inc. has a 1-year low of $21.24 and a 1-year high of $68.33.

PBF Energy (NYSE:PBF) last issued 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 firm had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($3.53) EPS. On average, equities analysts predict that PBF Energy Inc. will post 10.94 earnings per share for the current year.

PBF Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PBF. Freedom Capital upgraded PBF Energy to a “hold” rating in a research note on Tuesday, July 7th. Mizuho lifted their price objective on PBF Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Zacks Research raised PBF Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Morgan Stanley upped their target price on shares of PBF Energy from $34.00 to $38.00 and gave the company an “underweight” rating in a research note on Friday, June 12th. Finally, BMO Capital Markets raised their price target on shares of PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, PBF Energy presently has a consensus rating of “Hold” and a consensus price target of $45.62.

Insider Activity

In other news, insider Control Empresarial De Capital sold 220,000 shares of the company’s stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $63.96, for a total transaction of $14,071,200.00. Following the completion of the sale, the insider owned 15,492,128 shares of the company’s stock, valued at $990,876,506.88. This represents a 1.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 3,399,570 shares of company stock worth $164,111,586. Insiders own 5.50% of the company’s stock.

About PBF Energy

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.