Swiss National Bank raised its position in PBF Energy Inc (NYSE:PBF) by 2.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 211,900 shares of the oil and gas company’s stock after purchasing an additional 4,300 shares during the period. Swiss National Bank owned about 0.18% of PBF Energy worth $6,632,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of PBF. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in shares of PBF Energy during the 1st quarter valued at approximately $119,000. First Citizens Bank & Trust Co. raised its holdings in shares of PBF Energy by 43.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 15,733 shares of the oil and gas company’s stock worth $492,000 after purchasing an additional 4,796 shares during the period. Cubic Asset Management LLC purchased a new position in shares of PBF Energy in the 2nd quarter worth about $983,000. Alpha Windward LLC raised its holdings in shares of PBF Energy by 3,212.4% in the 2nd quarter. Alpha Windward LLC now owns 15,535 shares of the oil and gas company’s stock worth $436,000 after purchasing an additional 15,066 shares during the period. Finally, Mason Street Advisors LLC raised its holdings in shares of PBF Energy by 1.5% in the 1st quarter. Mason Street Advisors LLC now owns 63,731 shares of the oil and gas company’s stock worth $1,985,000 after purchasing an additional 932 shares during the period. 83.15% of the stock is currently owned by institutional investors.
Several equities analysts have commented on PBF shares. Credit Suisse Group raised PBF Energy from a “neutral” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Wednesday, May 15th. Goldman Sachs Group raised shares of PBF Energy from a “sell” rating to a “neutral” rating and set a $27.00 target price on the stock in a research note on Monday, August 5th. Cowen reaffirmed a “market perform” rating and set a $30.00 target price (down previously from $33.00) on shares of PBF Energy in a research note on Friday, August 2nd. Morgan Stanley set a $42.00 target price on shares of PBF Energy and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, ValuEngine raised shares of PBF Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $42.57.
PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.04). The company had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.23 billion. PBF Energy had a net margin of 0.09% and a return on equity of 6.34%. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.38 earnings per share. As a group, analysts expect that PBF Energy Inc will post 1.01 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.49%. PBF Energy’s dividend payout ratio (DPR) is 36.81%.
In related news, insider Carso S.A. De C.V. Inversora bought 686,500 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $24.80 per share, for a total transaction of $17,025,200.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas J. Nimbley bought 40,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average price of $23.76 per share, for a total transaction of $950,400.00. Following the completion of the acquisition, the chief executive officer now owns 405,990 shares in the company, valued at approximately $9,646,322.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 2,194,973 shares of company stock worth $51,232,189. Company insiders own 3.50% of the company’s stock.
PBF Energy Company Profile
PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.
Featured Article: How to execute a trade ex-dividend strategy?
Want to see what other hedge funds are holding PBF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PBF Energy Inc (NYSE:PBF).
Receive News & Ratings for PBF Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PBF Energy and related companies with MarketBeat.com's FREE daily email newsletter.