Havemeyer Place LP Makes New Investment in PBF Energy Inc. $PBF

Havemeyer Place LP bought a new position in PBF Energy Inc. (NYSE:PBF) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 20,307 shares of the oil and gas company’s stock, valued at approximately $551,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PBF. Smartleaf Asset Management LLC increased its stake in shares of PBF Energy by 197.7% during the third quarter. Smartleaf Asset Management LLC now owns 887 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 589 shares during the period. Torren Management LLC purchased a new position in shares of PBF Energy during the fourth quarter valued at $30,000. Hantz Financial Services Inc. increased its stake in shares of PBF Energy by 235.7% during the third quarter. Hantz Financial Services Inc. now owns 1,299 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 912 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in shares of PBF Energy during the fourth quarter valued at $57,000. Finally, Global Retirement Partners LLC increased its stake in shares of PBF Energy by 3,354.7% during the fourth quarter. Global Retirement Partners LLC now owns 2,211 shares of the oil and gas company’s stock valued at $60,000 after buying an additional 2,147 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Price Performance

PBF opened at $40.31 on Wednesday. The business’s 50-day moving average is $41.96 and its two-hundred day moving average is $37.25. PBF Energy Inc. has a 1 year low of $19.47 and a 1 year high of $52.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 0.62. The firm has a market capitalization of $4.77 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 0.16 and a beta of 0.12.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share 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 analyst estimates of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.PBF Energy’s revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($3.53) EPS. Research analysts anticipate that PBF Energy Inc. will post 6.7 earnings per share for the current fiscal year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, May 14th. PBF Energy’s dividend payout ratio (DPR) is currently 29.65%.

Insider Activity

In other PBF Energy news, Director Thomas J. Nimbley sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $50.62, for a total value of $2,531,000.00. Following the completion of the sale, the director owned 790,716 shares of the company’s stock, valued at approximately $40,026,043.92. This trade represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Control Empresarial De Capital sold 100,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $43.17, for a total value of $4,317,000.00. Following the completion of the sale, the insider directly owned 18,117,698 shares of the company’s stock, valued at approximately $782,141,022.66. This represents a 0.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 7,582,425 shares of company stock valued at $358,083,629. Corporate insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Scotiabank raised their price target on PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Mizuho raised their price target on PBF Energy from $43.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Tudor Pickering upgraded PBF Energy from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. BMO Capital Markets raised their price target on PBF Energy from $43.00 to $50.00 and gave the company a “market perform” rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PBF Energy in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, PBF Energy currently has an average rating of “Reduce” and an average price target of $36.15.

PBF Energy 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.