Quantitative Investment Management LLC Purchases New Holdings in PBF Energy Inc. $PBF

Quantitative Investment Management LLC purchased a new stake in shares of PBF Energy Inc. (NYSE:PBF) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,778 shares of the oil and gas company’s stock, valued at approximately $399,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Leonteq Securities AG bought a new stake in shares of PBF Energy in the 1st quarter worth approximately $33,000. Los Angeles Capital Management LLC bought a new position in PBF Energy during the 4th quarter valued at approximately $31,000. Smartleaf Asset Management LLC increased its position in PBF Energy by 65.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,466 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 579 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in PBF Energy during the fourth quarter valued at $57,000. Finally, Global Retirement Partners LLC raised its stake in PBF Energy by 3,354.7% during the fourth quarter. Global Retirement Partners LLC now owns 2,211 shares of the oil and gas company’s stock valued at $60,000 after buying an additional 2,147 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

Insider Buying and Selling at PBF Energy

In other news, SVP Trecia M. Canty sold 75,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $74.10, for a total transaction of $5,557,500.00. Following the completion of the transaction, the senior vice president directly owned 191,779 shares in the company, valued at approximately $14,210,823.90. This represents a 28.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Paul T. Davis sold 63,295 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $70.40, for a total transaction of $4,455,968.00. Following the sale, the senior vice president directly owned 183,426 shares in the company, valued at approximately $12,913,190.40. The trade was a 25.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 5,912,674 shares of company stock worth $360,769,134. Company insiders own 5.50% of the company’s stock.

PBF Energy Stock Up 2.9%

Shares of PBF stock opened at $75.14 on Wednesday. PBF Energy Inc. has a 12 month low of $25.62 and a 12 month high of $76.16. The stock has a market cap of $8.91 billion, a P/E ratio of 6.65, a P/E/G ratio of 0.08 and a beta of 0.09. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27. The company has a 50 day simple moving average of $61.99 and a two-hundred day simple moving average of $48.63.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share for the quarter, beating the consensus estimate of $4.15 by $2.07. The business had revenue of $11.68 billion for the quarter, compared to the consensus estimate of $9.61 billion. PBF Energy had a net margin of 3.94% and a return on equity of 11.27%. The company’s revenue for the quarter was up 56.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.03) earnings per share. On average, research analysts expect that PBF Energy Inc. will post 15.74 earnings per share for the current year.

PBF Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, August 14th. PBF Energy’s payout ratio is currently 9.73%.

Wall Street Analysts Forecast Growth

PBF has been the topic of a number of recent research reports. Mizuho increased their target price on PBF Energy from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. The Goldman Sachs Group lifted their target price on shares of PBF Energy from $71.00 to $81.00 and gave the stock a “neutral” rating in a report on Tuesday, August 18th. TD Cowen increased their price target on shares of PBF Energy from $39.00 to $68.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Evercore began coverage on shares of PBF Energy in a research report on Friday, July 17th. They set an “in-line” rating and a $58.00 price target for the company. Finally, Freedom Capital lowered shares of PBF Energy from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, PBF Energy has an average rating of “Reduce” and an average price target of $50.92.

About PBF Energy

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.