LS Investment Advisors LLC purchased a new position in PBF Energy Inc. (NYSE:PBF) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,448 shares of the oil and gas company’s stock, valued at approximately $188,000.
Several other hedge funds and other institutional investors have also modified their holdings of PBF. UBS Group AG boosted its stake in PBF Energy by 4.6% in the first quarter. UBS Group AG now owns 84,654 shares of the oil and gas company’s stock worth $1,877,000 after buying an additional 3,706 shares in the last quarter. Sanders Morris Harris Inc. purchased a new stake in PBF Energy during the first quarter worth about $2,001,000. Nomura Asset Management Co. Ltd. boosted its stake in PBF Energy by 50.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 4,740 shares of the oil and gas company’s stock worth $105,000 after buying an additional 1,580 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in PBF Energy during the first quarter worth about $113,000. Finally, Point72 Asset Management L.P. purchased a new stake in PBF Energy during the first quarter worth about $19,439,000.
PBF Energy Inc. (PBF) opened at 20.36 on Friday. PBF Energy Inc. has a 52 week low of $18.48 and a 52 week high of $30.98. The stock’s 50 day moving average price is $22.07 and its 200 day moving average price is $22.05. The firm’s market cap is $2.23 billion.
PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.09. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.76 billion. PBF Energy had a negative net margin of 0.23% and a negative return on equity of 4.98%. During the same period last year, the business earned $0.14 EPS. On average, equities research analysts predict that PBF Energy Inc. will post $0.36 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 5.89%. The ex-dividend date is Friday, August 11th. PBF Energy’s dividend payout ratio (DPR) is currently -363.64%.
A number of research firms have recently issued reports on PBF. Zacks Investment Research upgraded PBF Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Scotiabank set a $24.00 price target on PBF Energy and gave the company a “buy” rating in a research report on Saturday, May 6th. BidaskClub upgraded PBF Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Cowen and Company reiterated a “buy” rating and issued a $30.00 price target on shares of PBF Energy in a research report on Thursday. Finally, Citigroup Inc. lowered their price target on PBF Energy from $37.50 to $33.50 and set a “buy” rating on the stock in a research report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $24.00.
In related news, CEO Thomas J. Nimbley bought 50,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was acquired at an average price of $19.69 per share, with a total value of $984,500.00. Following the transaction, the chief executive officer now owns 290,000 shares in the company, valued at approximately $5,710,100. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Connor Thomas L. O bought 10,000 shares of the business’s stock in a transaction on Friday, May 26th. The stock was bought at an average cost of $20.17 per share, with a total value of $201,700.00. Following the transaction, the insider now owns 105,135 shares in the company, valued at approximately $2,120,572.95. The disclosure for this purchase can be found here. 2.55% of the stock is owned by company insiders.
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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