Y Intercept Hong Kong Ltd Takes $3.89 Million Position in PBF Energy Inc. $PBF

Y Intercept Hong Kong Ltd acquired a new position in shares of PBF Energy Inc. (NYSE:PBF) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 128,923 shares of the oil and gas company’s stock, valued at approximately $3,890,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Verdence Capital Advisors LLC grew its position in PBF Energy by 2.5% during the third quarter. Verdence Capital Advisors LLC now owns 14,287 shares of the oil and gas company’s stock valued at $478,000 after acquiring an additional 348 shares during the period. Deseret Mutual Benefit Administrators raised its holdings in shares of PBF Energy by 62.3% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,146 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 440 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of PBF Energy by 25.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,609 shares of the oil and gas company’s stock valued at $57,000 after purchasing an additional 522 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of PBF Energy by 11.6% during the 3rd quarter. GAMMA Investing LLC now owns 5,041 shares of the oil and gas company’s stock worth $152,000 after purchasing an additional 525 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings in shares of PBF Energy by 4.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 13,220 shares of the oil and gas company’s stock worth $286,000 after purchasing an additional 527 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on PBF shares. BMO Capital Markets restated a “market perform” rating and issued a $34.00 price target on shares of PBF Energy in a report on Monday, January 5th. Morgan Stanley set a $27.00 target price on shares of PBF Energy and gave the company an “underweight” rating in a research note on Friday, October 3rd. Citigroup lifted their target price on shares of PBF Energy from $29.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Piper Sandler set a $41.00 price target on PBF Energy in a report on Monday, January 12th. Finally, Mizuho raised PBF Energy from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $31.00 to $38.00 in a research report on Friday, December 12th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and eight have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $30.14.

Insider Buying and Selling

In related news, SVP Connor Thomas L. O sold 50,000 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $40.83, for a total value of $2,041,500.00. Following the sale, the senior vice president directly owned 205,340 shares of the company’s stock, valued at $8,384,032.20. This represents a 19.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Trecia M. Canty sold 50,000 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $36.44, for a total transaction of $1,822,000.00. Following the transaction, the senior vice president directly owned 200,744 shares of the company’s stock, valued at approximately $7,315,111.36. This represents a 19.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 894,624 shares of company stock worth $30,997,335 over the last 90 days. 6.70% of the stock is currently owned by corporate insiders.

PBF Energy Stock Performance

Shares of PBF stock opened at $33.39 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.38 and a quick ratio of 0.59. The company’s fifty day moving average price is $31.06 and its two-hundred day moving average price is $29.50. The firm has a market capitalization of $3.87 billion, a P/E ratio of -7.18, a P/E/G ratio of 2.17 and a beta of 0.47. PBF Energy Inc. has a 12 month low of $13.61 and a 12 month high of $41.47.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.17. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.The business had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.47 billion. During the same period in the previous year, the company earned ($1.50) earnings per share. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. On average, research analysts anticipate that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th were issued a dividend of $0.275 per share. The ex-dividend date was Friday, November 14th. This represents a $1.10 annualized dividend and a yield of 3.3%. PBF Energy’s payout ratio is currently -23.66%.

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.