Kendall Capital Management Acquires 835 Shares of PBF Energy Inc. (NYSE:PBF)

Kendall Capital Management grew its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 5.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,405 shares of the oil and gas company’s stock after buying an additional 835 shares during the period. Kendall Capital Management’s holdings in PBF Energy were worth $721,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Moneta Group Investment Advisors LLC acquired a new stake in PBF Energy in the 4th quarter valued at $412,454,000. Norges Bank acquired a new stake in PBF Energy in the 4th quarter valued at $43,996,000. Vanguard Group Inc. grew its position in 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 valued at $298,916,000 after purchasing an additional 1,077,287 shares during the period. Acadian Asset Management LLC grew its position in PBF Energy by 1,112.3% in the 3rd quarter. Acadian Asset Management LLC now owns 966,324 shares of the oil and gas company’s stock valued at $51,718,000 after purchasing an additional 886,617 shares during the period. Finally, AQR Capital Management LLC grew its position in PBF Energy by 253.1% in 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 during the period. 96.29% of the stock is currently owned by institutional investors.

PBF Energy Trading Up 0.4 %

NYSE PBF opened at $59.08 on Thursday. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of 3.59 and a beta of 1.73. PBF Energy Inc. has a one year low of $31.25 and a one year high of $62.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.56 and a quick ratio of 0.81. The business’s fifty day moving average is $52.94 and its 200-day moving average is $48.13.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, February 15th. The oil and gas company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.49). The business had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $8.65 billion. PBF Energy had a return on equity of 23.69% and a net margin of 5.59%. The company’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.41 earnings per share. Equities research analysts predict that PBF Energy Inc. will post 6.35 EPS for the current year.

PBF Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 29th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Wednesday, February 28th. PBF Energy’s dividend payout ratio is currently 6.08%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PBF. Bank of America raised shares of PBF Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $52.00 to $74.00 in a research report on Friday, March 15th. Citigroup began coverage on PBF Energy in a research note on Wednesday, January 24th. They set a “neutral” rating on the stock. StockNews.com cut PBF Energy from a “buy” rating to a “hold” rating in a research note on Monday, December 18th. JPMorgan Chase & Co. raised their price objective on PBF Energy from $54.00 to $59.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Finally, TD Cowen raised their price objective on PBF Energy from $35.00 to $41.00 and gave the company a “market perform” rating in a research note on Friday, February 16th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $57.10.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital acquired 12,200 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were acquired at an average cost of $43.86 per share, for a total transaction of $535,092.00. Following the purchase, the insider now owns 14,345,198 shares of the company’s stock, valued at approximately $629,180,384.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Control Empresarial De Capital acquired 12,200 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were acquired at an average cost of $43.86 per share, for a total transaction of $535,092.00. Following the purchase, the insider now owns 14,345,198 shares of the company’s stock, valued at approximately $629,180,384.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Paul T. Davis sold 100,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $56.37, for a total value of $5,637,000.00. Following the completion of the sale, the senior vice president now owns 110,978 shares in the company, valued at $6,255,829.86. The disclosure for this sale can be found here. In the last three months, insiders have bought 1,268,200 shares of company stock worth $54,251,872 and have sold 180,000 shares worth $10,074,600. 5.30% of the stock is currently owned by company insiders.

About PBF Energy

PBF Energy Inc, through 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.