BlackRock Inc. boosted its position in PBF Energy Inc. (NYSE:PBF) by 14,494.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,696,870 shares of the oil and gas company’s stock after buying an additional 4,664,688 shares during the period. BlackRock Inc. owned approximately 4.30% of PBF Energy worth $104,130,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of PBF. First Heartland Consultants Inc. increased its stake in PBF Energy by 18.3% in the first quarter. First Heartland Consultants Inc. now owns 53,452 shares of the oil and gas company’s stock worth $1,185,000 after buying an additional 8,250 shares during the last quarter. UBS Group AG increased 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 during the last quarter. Dimensional Fund Advisors LP increased its stake in PBF Energy by 49.6% in the first quarter. Dimensional Fund Advisors LP now owns 8,595,206 shares of the oil and gas company’s stock worth $190,554,000 after buying an additional 2,850,233 shares during the last quarter. Old West Investment Management LLC increased its stake in PBF Energy by 12.3% in the first quarter. Old West Investment Management LLC now owns 492,162 shares of the oil and gas company’s stock worth $10,911,000 after buying an additional 53,800 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in PBF Energy by 8.8% in the first quarter. Geode Capital Management LLC now owns 835,010 shares of the oil and gas company’s stock worth $18,512,000 after buying an additional 67,374 shares during the last quarter.
Shares of PBF Energy Inc. (NYSE PBF) opened at 20.36 on Friday. PBF Energy Inc. has a 12-month low of $18.48 and a 12-month high of $30.98. The company’s market capitalization is $2.23 billion. The stock has a 50 day moving average of $22.07 and a 200-day moving average of $22.05.
PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.09. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.76 billion. PBF Energy had a negative return on equity of 4.98% and a negative net margin of 0.23%. During the same period in the prior year, the firm posted $0.14 earnings per share. Analysts predict that PBF Energy Inc. will post $0.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date of this dividend is Friday, August 11th. PBF Energy’s dividend payout ratio (DPR) is -363.64%.
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A number of equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BidaskClub downgraded shares of PBF Energy from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Credit Suisse Group downgraded shares of PBF Energy from a “neutral” rating to an “underperform” rating and set a $18.00 target price on the stock. in a research note on Tuesday, June 20th. Citigroup Inc. reduced their target price on shares of PBF Energy from $33.50 to $33.00 and set a “buy” rating on the stock in a research note on Monday, August 7th. Finally, US Capital Advisors reissued a “hold” rating on shares of PBF Energy in a research note on Monday, May 22nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. PBF Energy presently has an average rating of “Hold” and a consensus price target of $24.00.
In other PBF Energy news, CEO Thomas J. Nimbley purchased 50,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was purchased at an average cost of $19.69 per share, with a total value of $984,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 290,000 shares of the company’s stock, valued at approximately $5,710,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Connor Thomas L. O acquired 10,000 shares of PBF Energy stock in a transaction on Friday, May 26th. The stock was purchased at an average price of $20.17 per share, with a total value of $201,700.00. Following the purchase, the insider now owns 105,135 shares of the company’s stock, valued at approximately $2,120,572.95. The disclosure for this purchase can be found here. Corporate 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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