PBF Energy Inc (NYSE:PBF) Shares Bought by World Asset Management Inc

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World Asset Management Inc lifted its holdings in PBF Energy Inc (NYSE:PBF) by 24.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,671 shares of the oil and gas company’s stock after acquiring an additional 2,924 shares during the period. World Asset Management Inc’s holdings in PBF Energy were worth $150,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Jane Street Group LLC increased its position in shares of PBF Energy by 240.3% in the first quarter. Jane Street Group LLC now owns 67,030 shares of the oil and gas company’s stock worth $474,000 after acquiring an additional 47,330 shares in the last quarter. State Street Corp boosted its stake in shares of PBF Energy by 18.1% in the first quarter. State Street Corp now owns 5,723,274 shares of the oil and gas company’s stock valued at $40,521,000 after purchasing an additional 876,104 shares during the period. Morgan Stanley boosted its stake in shares of PBF Energy by 256.7% in the first quarter. Morgan Stanley now owns 1,390,868 shares of the oil and gas company’s stock valued at $9,848,000 after purchasing an additional 1,000,923 shares during the period. Acadian Asset Management LLC boosted its stake in shares of PBF Energy by 53.7% in the first quarter. Acadian Asset Management LLC now owns 10,806 shares of the oil and gas company’s stock valued at $77,000 after purchasing an additional 3,774 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of PBF Energy by 82.7% in the first quarter. Alliancebernstein L.P. now owns 328,973 shares of the oil and gas company’s stock valued at $2,329,000 after purchasing an additional 148,890 shares during the period. 77.86% of the stock is owned by institutional investors.

PBF Energy stock opened at $8.68 on Friday. The firm’s 50-day moving average is $9.85 and its 200-day moving average is $14.63. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.65 and a current ratio of 1.13. PBF Energy Inc has a 1 year low of $5.19 and a 1 year high of $34.91. The company has a market cap of $1.04 billion, a P/E ratio of -1.06 and a beta of 2.71.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported ($3.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.00) by ($1.19). PBF Energy had a positive return on equity of 3.40% and a negative net margin of 3.97%. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the business posted $0.83 earnings per share. The company’s quarterly revenue was down 61.6% compared to the same quarter last year. As a group, sell-side analysts predict that PBF Energy Inc will post -7.12 earnings per share for the current year.

Several brokerages have recently weighed in on PBF. Scotiabank downgraded shares of PBF Energy from an “outperform” rating to a “sector underperform” rating and set a $7.00 target price for the company. in a research note on Tuesday, April 14th. ValuEngine upgraded shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 2nd. Barclays downgraded shares of PBF Energy from an “overweight” rating to an “underweight” rating and decreased their target price for the company from $11.00 to $7.00 in a research note on Tuesday, May 19th. Goldman Sachs Group downgraded shares of PBF Energy from a “neutral” rating to a “sell” rating and decreased their target price for the company from $12.00 to $10.00 in a research note on Tuesday, June 23rd. Finally, Bank of America reiterated a “neutral” rating and set a $10.00 price objective on shares of PBF Energy in a research note on Monday, April 20th. Seven research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $16.27.

PBF Energy 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.

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

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