Phocas Financial Corp. Acquires Shares of 9,581 PBF Energy Inc. $PBF

Phocas Financial Corp. acquired a new stake in shares of PBF Energy Inc. (NYSE:PBF) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,581 shares of the oil and gas company’s stock, valued at approximately $208,000.

A number of other hedge funds also recently made changes to their positions in PBF. MassMutual Private Wealth & Trust FSB boosted its stake in PBF Energy by 761.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 1,248 shares during the last quarter. Allworth Financial LP raised its holdings in shares of PBF Energy by 194.3% during the 1st quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 1,090 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of PBF Energy during the 1st quarter worth approximately $35,000. Neo Ivy Capital Management bought a new position in shares of PBF Energy during the 1st quarter valued at approximately $37,000. Finally, Activest Wealth Management boosted its position in shares of PBF Energy by 199,900.0% during the 1st quarter. Activest Wealth Management now owns 2,000 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 1,999 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Citigroup upped their price target on shares of PBF Energy from $16.00 to $29.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Mizuho boosted their target price on shares of PBF Energy from $23.00 to $26.00 and gave the stock an “underperform” rating in a report on Monday, September 15th. Cowen restated a “sell” rating on shares of PBF Energy in a research report on Friday, October 31st. TD Cowen lifted their price target on PBF Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research report on Friday, October 31st. Finally, Bank of America upped their target price on PBF Energy from $16.00 to $21.00 and gave the company an “underperform” rating in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Strong Sell” and an average target price of $27.83.

PBF Energy Stock Up 0.1%

NYSE:PBF opened at $35.35 on Thursday. The company’s fifty day moving average price is $30.43 and its 200-day moving average price is $24.85. The firm has a market capitalization of $4.09 billion, a P/E ratio of -7.60 and a beta of 0.79. PBF Energy Inc. has a 1-year low of $13.61 and a 1-year high of $36.67. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.38 and a quick ratio of 0.59.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, October 30th. The oil and gas company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.17. PBF Energy had a negative net margin of 1.78% and a negative return on equity of 15.88%. The business had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.47 billion. During the same quarter in the prior year, the firm posted ($1.50) earnings per share. The company’s revenue was down 8.7% compared to the same quarter last year. As a group, equities research analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, November 14th. PBF Energy’s dividend payout ratio is -23.66%.

Insider Buying and Selling at PBF Energy

In related news, SVP Connor Thomas L. O sold 30,000 shares of the business’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the transaction, the senior vice president directly owned 207,984 shares in the company, valued at approximately $7,071,456. The trade was a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Trecia M. Canty sold 50,000 shares of the business’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $34.13, for a total value of $1,706,500.00. Following the transaction, the senior vice president directly owned 173,332 shares in the company, valued at $5,915,821.16. This trade represents a 22.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 331,048 shares of company stock valued at $11,390,041. Corporate insiders own 5.30% of the company’s stock.

PBF Energy Company Profile

PBF Energy Inc, through 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 from crude oil.