UBS Group AG increased its stake in PBF Energy Inc. (NYSE:PBF) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,654 shares of the oil and gas company’s stock after buying an additional 3,706 shares during the period. UBS Group AG owned 0.08% of PBF Energy worth $1,877,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position 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 valued at $190,554,000 after buying an additional 2,850,233 shares during the period. Old West Investment Management LLC increased its position 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 valued at $10,911,000 after buying an additional 53,800 shares during the period. Geode Capital Management LLC increased its position 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 valued at $18,512,000 after buying an additional 67,374 shares during the period. Snow Capital Management LP increased its position in PBF Energy by 0.8% in the first quarter. Snow Capital Management LP now owns 3,158,868 shares of the oil and gas company’s stock valued at $70,032,000 after buying an additional 24,722 shares during the period. Finally, Vanguard Group Inc. increased its position in PBF Energy by 1.4% in the first quarter. Vanguard Group Inc. now owns 10,203,227 shares of the oil and gas company’s stock valued at $226,206,000 after buying an additional 141,619 shares during the period.
PBF Energy Inc. (NYSE PBF) traded up 1.56% during mid-day trading on Friday, hitting $23.40. 3,342,546 shares of the stock were exchanged. The company has a 50-day moving average of $22.07 and a 200-day moving average of $22.22. PBF Energy Inc. has a 52 week low of $18.48 and a 52 week high of $30.98. The stock has a market capitalization of $2.57 billion, a PE ratio of 14.00 and a beta of 1.40.
PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.09. PBF Energy had a negative return on equity of 4.93% and a negative net margin of 0.23%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the prior year, the company posted $0.14 EPS. On average, equities analysts predict that PBF Energy Inc. will post $0.38 EPS for the current fiscal year.
The business also recently announced 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. The ex-dividend date is Friday, August 11th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.13%. PBF Energy’s dividend payout ratio is -363.64%.
Several research analysts recently commented on the stock. BidaskClub raised shares of PBF Energy from a “sell” rating to a “hold” rating in a report on Friday. Scotiabank set a $24.00 price objective on shares of PBF Energy and gave the stock a “buy” rating in a report on Thursday. Zacks Investment Research raised shares of PBF Energy from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Wolfe Research downgraded shares of PBF Energy from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 25th. Finally, Citigroup Inc. cut their price target on shares of PBF Energy from $37.50 to $33.50 and set a “buy” rating for the company in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $23.39.
In related news, CEO Thomas J. Nimbley bought 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was purchased at an average price of $19.69 per share, for a total transaction of $984,500.00. Following the completion of the transaction, the chief executive officer now owns 290,000 shares in the company, valued at $5,710,100. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Connor Thomas L. O bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The shares were bought at an average price of $20.17 per share, with a total value of $201,700.00. Following the transaction, 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. 2.55% of the stock is currently owned by corporate insiders.
About PBF Energy
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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