Brandywine Global Investment Management LLC Raises Position in PBF Energy Inc. $PBF

Brandywine Global Investment Management LLC boosted its stake in PBF Energy Inc. (NYSE:PBF) by 351.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 265,493 shares of the oil and gas company’s stock after buying an additional 206,666 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in PBF Energy were worth $7,200,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Merit Financial Group LLC lifted its holdings in PBF Energy by 3.0% in the third quarter. Merit Financial Group LLC now owns 9,575 shares of the oil and gas company’s stock worth $289,000 after buying an additional 276 shares during the period. Arizona State Retirement System lifted its holdings in PBF Energy by 1.4% in the third quarter. Arizona State Retirement System now owns 25,666 shares of the oil and gas company’s stock worth $774,000 after buying an additional 353 shares during the period. Next Level Private LLC lifted its holdings in PBF Energy by 0.6% in the fourth quarter. Next Level Private LLC now owns 66,660 shares of the oil and gas company’s stock worth $1,808,000 after buying an additional 378 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PBF Energy by 1.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,617 shares of the oil and gas company’s stock valued at $863,000 after purchasing an additional 432 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of PBF Energy by 1.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 40,306 shares of the oil and gas company’s stock valued at $1,098,000 after purchasing an additional 511 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PBF shares. Wall Street Zen lowered shares of PBF Energy from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Scotiabank lifted their target price on shares of PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Morgan Stanley lifted their target price on shares of PBF Energy from $27.00 to $34.00 and gave the company an “underweight” rating in a report on Friday, April 24th. The Goldman Sachs Group started coverage on shares of PBF Energy in a report on Friday, April 10th. They set a “neutral” rating and a $49.00 target price for the company. Finally, Mizuho lifted their target price on shares of PBF Energy from $43.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, PBF Energy currently has a consensus rating of “Reduce” and an average price target of $36.15.

PBF Energy Price Performance

Shares of PBF opened at $40.31 on Wednesday. The company has a market capitalization of $4.77 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 0.16 and a beta of 0.12. The company has a quick ratio of 0.62, a current ratio of 1.31 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average of $41.96 and a 200 day moving average of $37.25. PBF Energy Inc. has a twelve month low of $19.47 and a twelve month high of $52.18.

PBF Energy (NYSE:PBF) last announced 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 firm had revenue of $7.90 billion for 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%. PBF Energy’s revenue was up 11.9% on a year-over-year basis. During the same period last year, the business earned ($3.53) EPS. As a group, equities research analysts anticipate that PBF Energy Inc. will post 6.7 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

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

Insider Activity at PBF Energy

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

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.