Spark Investment Management LLC Has $19.05 Million Position in PBF Energy Inc (PBF)

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Spark Investment Management LLC cut its stake in shares of PBF Energy Inc (NYSE:PBF) by 7.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 611,600 shares of the oil and gas company’s stock after selling 51,100 shares during the period. PBF Energy makes up approximately 0.9% of Spark Investment Management LLC’s investment portfolio, making the stock its 24th largest holding. Spark Investment Management LLC’s holdings in PBF Energy were worth $19,045,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PBF. Nordea Investment Management AB raised its holdings in PBF Energy by 41.9% during the third quarter. Nordea Investment Management AB now owns 176,036 shares of the oil and gas company’s stock worth $8,786,000 after acquiring an additional 51,936 shares in the last quarter. Vanguard Group Inc raised its holdings in PBF Energy by 10.0% during the third quarter. Vanguard Group Inc now owns 12,336,119 shares of the oil and gas company’s stock worth $615,695,000 after acquiring an additional 1,121,082 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in PBF Energy by 33.0% during the fourth quarter. Meeder Asset Management Inc. now owns 15,836 shares of the oil and gas company’s stock worth $518,000 after acquiring an additional 3,927 shares in the last quarter. Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in PBF Energy during the fourth quarter worth about $359,000. Finally, Bank of Montreal Can raised its holdings in PBF Energy by 693.9% during the fourth quarter. Bank of Montreal Can now owns 1,500,199 shares of the oil and gas company’s stock worth $49,012,000 after acquiring an additional 1,311,225 shares in the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

In other PBF Energy news, CEO Thomas J. Nimbley bought 25,000 shares of PBF Energy stock in a transaction on Monday, March 11th. The shares were purchased at an average price of $30.03 per share, with a total value of $750,750.00. Following the acquisition, the chief executive officer now owns 365,990 shares in the company, valued at approximately $10,990,679.70. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.50% of the company’s stock.

PBF has been the topic of several analyst reports. TheStreet upgraded PBF Energy from a “c+” rating to a “b” rating in a report on Friday, May 3rd. ValuEngine raised PBF Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. Tudor Pickering downgraded PBF Energy from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. Bank of America raised PBF Energy from an “underperform” rating to a “neutral” rating in a research report on Monday, April 29th. Finally, Raymond James reduced their price target on PBF Energy from $41.00 to $40.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $49.00.

NYSE:PBF traded down $0.26 during trading hours on Friday, reaching $31.10. 6,698 shares of the company were exchanged, compared to its average volume of 1,858,293. The company has a market capitalization of $3.76 billion, a P/E ratio of 9.54, a P/E/G ratio of 1.63 and a beta of 1.39. PBF Energy Inc has a 1-year low of $28.01 and a 1-year high of $53.91. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.54.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported ($1.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.95) by ($0.23). The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.29 billion. PBF Energy had a return on equity of 8.25% and a net margin of 1.23%. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.29) EPS. On average, sell-side analysts anticipate that PBF Energy Inc will post 1.96 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Wednesday, May 15th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date is Tuesday, May 14th. PBF Energy’s dividend payout ratio is presently 36.81%.

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About PBF Energy

PBF Energy Inc, together with its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products.

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Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

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