PointState Capital LP Buys New Shares in PBF Energy Inc (NYSE:PBF)

PointState Capital LP bought a new stake in PBF Energy Inc (NYSE:PBF) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 667,400 shares of the oil and gas company’s stock, valued at approximately $20,890,000. PointState Capital LP owned 0.56% of PBF Energy as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in PBF Energy during the first quarter worth approximately $119,000. DekaBank Deutsche Girozentrale grew its stake in PBF Energy by 19.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 5,774 shares of the oil and gas company’s stock worth $173,000 after buying an additional 923 shares during the period. Alpha Windward LLC grew its stake in PBF Energy by 3,212.4% during the second quarter. Alpha Windward LLC now owns 15,535 shares of the oil and gas company’s stock worth $436,000 after buying an additional 15,066 shares during the period. First Citizens Bank & Trust Co. grew its stake in PBF Energy by 43.9% during the second quarter. First Citizens Bank & Trust Co. now owns 15,733 shares of the oil and gas company’s stock worth $492,000 after buying an additional 4,796 shares during the period. Finally, Cubic Asset Management LLC purchased a new stake in PBF Energy during the second quarter worth approximately $983,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

PBF traded up $0.05 during trading on Thursday, hitting $24.84. The company had a trading volume of 1,950,869 shares, compared to its average volume of 2,009,985. The company has a market cap of $2.79 billion, a PE ratio of 7.62, a P/E/G ratio of 3.52 and a beta of 1.65. The business has a 50-day moving average of $23.60 and a 200-day moving average of $28.36. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 0.54. PBF Energy Inc has a 1-year low of $21.09 and a 1-year high of $53.91.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.04). The company had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.23 billion. PBF Energy had a net margin of 0.09% and a return on equity of 6.34%. The company’s revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.38 earnings per share. Research analysts forecast that PBF Energy Inc will post 0.98 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were issued a $0.30 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $1.20 annualized dividend and a yield of 4.83%. PBF Energy’s dividend payout ratio is presently 36.81%.

In related news, insider Carso S.A. De C.V. Inversora purchased 538,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average cost of $23.16 per share, with a total value of $12,467,028.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased 2,882,241 shares of company stock worth $67,803,160 over the last ninety days. 3.50% of the stock is currently owned by corporate insiders.

Several research firms have issued reports on PBF. ValuEngine upgraded shares of PBF Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 22nd. TheStreet cut shares of PBF Energy from a “b-” rating to a “c” rating in a research report on Thursday, August 1st. Goldman Sachs Group raised shares of PBF Energy from a “sell” rating to a “neutral” rating and set a $27.00 target price on the stock in a research report on Monday, August 5th. JPMorgan Chase & Co. reduced their target price on shares of PBF Energy from $28.00 to $23.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 10th. Finally, Cowen reissued a “market perform” rating and set a $30.00 target price (down from $33.00) on shares of PBF Energy in a research report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $38.00.

About PBF Energy

PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.

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Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

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