US Bancorp DE increased its stake in shares of PBF Energy Inc. (NYSE:PBF) by 35.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,928 shares of the oil and gas company’s stock after buying an additional 2,346 shares during the period. US Bancorp DE’s holdings in PBF Energy were worth $198,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Luminus Management LLC bought a new stake in PBF Energy during the fourth quarter valued at $33,233,000. Advantage Investment Management LLC acquired a new position in shares of PBF Energy during the fourth quarter valued at approximately $4,004,000. Thrivent Financial for Lutherans acquired a new position in shares of PBF Energy during the fourth quarter valued at approximately $2,495,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of PBF Energy by 21.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,273 shares of the oil and gas company’s stock valued at $398,000 after buying an additional 2,681 shares during the last quarter. Finally, Guggenheim Capital LLC increased its position in shares of PBF Energy by 92.9% in the fourth quarter. Guggenheim Capital LLC now owns 73,344 shares of the oil and gas company’s stock valued at $2,045,000 after buying an additional 35,329 shares during the last quarter.
PBF Energy Inc. (NYSE PBF) opened at 22.34 on Tuesday. The firm’s 50-day moving average price is $21.32 and its 200 day moving average price is $23.19. PBF Energy Inc. has a 12-month low of $18.48 and a 12-month high of $30.98. The firm has a market cap of $2.45 billion, a P/E ratio of 13.37 and a beta of 1.42.
PBF Energy (NYSE:PBF) last posted its earnings results on Thursday, May 4th. The oil and gas company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.26. The firm had revenue of $4.75 billion for the quarter, compared to analysts’ expectations of $4.29 billion. PBF Energy had a net margin of 0.95% and a negative return on equity of 4.20%. The company’s revenue was up 69.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.65) earnings per share. Analysts forecast that PBF Energy Inc. will post $1.01 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Shareholders of record on Tuesday, May 16th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, May 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.37%. PBF Energy’s payout ratio is presently 68.97%.
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PBF has been the topic of several recent analyst reports. Morgan Stanley downgraded PBF Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, February 27th. Royal Bank Of Canada reissued a “hold” rating and issued a $24.00 target price on shares of PBF Energy in a report on Monday, March 20th. Zacks Investment Research raised PBF Energy from a “sell” rating to a “hold” rating in a report on Friday, May 5th. Citigroup Inc. reissued a “buy” rating and issued a $37.50 target price (down from $39.00) on shares of PBF Energy in a report on Saturday, April 22nd. Finally, Vetr raised PBF Energy from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 6th. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.95.
In related news, insider Connor Thomas L. O bought 10,000 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were purchased at an average price of $20.17 per share, with a total value of $201,700.00. Following the completion of the purchase, the insider now owns 105,135 shares in the company, valued at approximately $2,120,572.95. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Thomas J. Nimbley bought 50,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were bought at an average cost of $19.69 per share, for a total transaction of $984,500.00. Following the purchase, the chief executive officer now owns 290,000 shares of the company’s stock, valued at approximately $5,710,100. The disclosure for this purchase can be found here. Insiders own 2.55% of the company’s stock.
PBF Energy Company Profile
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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