Recurrent Investment Advisors LLC Sells 248,000 Shares of PBF Energy Inc. $PBF

Recurrent Investment Advisors LLC lowered its position in PBF Energy Inc. (NYSE:PBF) by 19.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,002,915 shares of the oil and gas company’s stock after selling 248,000 shares during the period. PBF Energy accounts for about 2.9% of Recurrent Investment Advisors LLC’s holdings, making the stock its 16th biggest position. Recurrent Investment Advisors LLC’s holdings in PBF Energy were worth $47,759,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PBF. Goldman Sachs Group Inc. lifted its holdings 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 in the last quarter. Hsbc Holdings PLC increased its stake in PBF Energy by 81.7% during the 4th quarter. Hsbc Holdings PLC now owns 67,674 shares of the oil and gas company’s stock valued at $1,840,000 after purchasing an additional 30,430 shares in the last quarter. Brandywine Global Investment Management LLC increased its stake in PBF Energy by 351.3% during the 4th quarter. Brandywine Global Investment Management LLC now owns 265,493 shares of the oil and gas company’s stock valued at $7,200,000 after purchasing an additional 206,666 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in PBF Energy during the fourth quarter worth $1,485,000. Finally, Jefferies Financial Group Inc. lifted its stake in shares of PBF Energy by 7,210.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 628,215 shares of the oil and gas company’s stock valued at $17,037,000 after buying an additional 619,622 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of PBF Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, July 22nd. Morgan Stanley boosted their price objective on PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a report on Friday, June 12th. Evercore started coverage on PBF Energy in a research note on Friday, July 17th. They issued an “in-line” rating and a $58.00 price objective for the company. BMO Capital Markets raised their target price on PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a report on Thursday, April 2nd. Finally, Scotiabank raised their target price on PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $45.62.

PBF Energy Price Performance

PBF Energy stock opened at $61.22 on Wednesday. PBF Energy Inc. has a 52 week low of $21.24 and a 52 week high of $68.33. The company’s 50 day moving average price is $47.45 and its two-hundred day moving average price is $42.20. The stock has a market cap of $7.24 billion, a P/E ratio of 16.50, a P/E/G ratio of 0.10 and a beta of 0.11. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The business had revenue of $7.90 billion during 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 business’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company earned ($3.53) earnings per share. On average, equities analysts predict that PBF Energy Inc. will post 10.94 earnings per share for the current year.

PBF Energy Announces Dividend

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

Insider Transactions at PBF Energy

In other news, insider Control Empresarial De Capital sold 570,000 shares of the firm’s stock in a transaction 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 sale, the insider directly owned 17,142,128 shares of the company’s stock, valued at $794,709,054.08. This trade represents a 3.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 3,399,570 shares of company stock valued at $164,111,586. 5.50% of the stock is owned by corporate insiders.

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.