Hsbc Holdings PLC Purchases 30,430 Shares of PBF Energy Inc. $PBF

Hsbc Holdings PLC increased its holdings in PBF Energy Inc. (NYSE:PBF) by 81.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,674 shares of the oil and gas company’s stock after buying an additional 30,430 shares during the period. Hsbc Holdings PLC’s holdings in PBF Energy were worth $1,840,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PBF. Torren Management LLC bought a new position in PBF Energy in the 4th quarter worth about $30,000. Los Angeles Capital Management LLC bought a new stake in shares of PBF Energy during the 4th quarter valued at about $31,000. Smartleaf Asset Management LLC boosted its position in shares of PBF Energy by 65.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 579 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in shares of PBF Energy during the 4th quarter valued at about $57,000. Finally, Global Retirement Partners LLC grew its holdings 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 worth $60,000 after purchasing an additional 2,147 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Performance

NYSE PBF opened at $46.53 on Tuesday. The company has a 50-day simple moving average of $41.07 and a two-hundred day simple moving average of $37.92. 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 Inc. has a 12-month low of $21.24 and a 12-month high of $52.18. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 0.14 and a beta of 0.12.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.09). The company had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.32 billion. PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($3.53) EPS. On average, equities analysts forecast that PBF Energy Inc. will post 7.69 EPS for the current year.

PBF Energy Dividend Announcement

The business 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. This represents a $1.10 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, May 14th. PBF Energy’s dividend payout ratio (DPR) is presently 29.65%.

Insider Transactions at PBF Energy

In other PBF Energy news, insider Control Empresarial De Capital sold 362,000 shares of PBF Energy stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $43.50, for a total value of $15,747,000.00. Following the transaction, the insider directly owned 18,891,698 shares of the company’s stock, valued at $821,788,863. The trade was a 1.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 1,741,570 shares of company stock worth $76,703,786. 5.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PBF. Mizuho upped their price objective on shares of PBF Energy from $43.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Citigroup lifted their target price on shares of PBF Energy from $36.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. The Goldman Sachs Group began coverage on shares of PBF Energy in a research note on Friday, April 10th. They issued a “neutral” rating and a $49.00 price target for the company. Morgan Stanley increased their price target on shares of PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a report on Friday, June 12th. Finally, Scotiabank raised their price objective on shares of PBF Energy from $28.00 to $34.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $36.69.

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.