AlphaQuest LLC Has $715,000 Position in PBF Energy Inc. $PBF

AlphaQuest LLC grew its stake in PBF Energy Inc. (NYSE:PBF) by 193.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,017 shares of the oil and gas company’s stock after purchasing an additional 21,759 shares during the period. AlphaQuest LLC’s holdings in PBF Energy were worth $715,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PBF. Golden State Wealth Management LLC boosted its stake in shares of PBF Energy by 188.0% in the 1st quarter. Golden State Wealth Management LLC now owns 6,624 shares of the oil and gas company’s stock valued at $126,000 after purchasing an additional 4,324 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of PBF Energy in the 1st quarter valued at approximately $242,000. Mutual Advisors LLC boosted its stake in shares of PBF Energy by 31.9% in the 1st quarter. Mutual Advisors LLC now owns 31,293 shares of the oil and gas company’s stock valued at $597,000 after purchasing an additional 7,564 shares in the last quarter. Principal Financial Group Inc. raised its holdings in PBF Energy by 1.1% in the 1st quarter. Principal Financial Group Inc. now owns 227,352 shares of the oil and gas company’s stock valued at $4,340,000 after buying an additional 2,514 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in PBF Energy by 14.0% in the 1st quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company’s stock valued at $40,504,000 after buying an additional 260,464 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PBF Energy

In other news, SVP Connor Thomas L. O sold 30,000 shares of PBF Energy stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $34.00, for a total value of $1,020,000.00. Following the completion of the sale, the senior vice president owned 207,984 shares in the company, valued at $7,071,456. The trade was a 12.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Trecia M. Canty sold 50,000 shares of PBF Energy stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $34.13, for a total transaction of $1,706,500.00. Following the completion of the sale, the senior vice president directly owned 173,332 shares of the company’s stock, valued at approximately $5,915,821.16. The trade was a 22.39% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.30% of the company’s stock.

PBF Energy Stock Performance

NYSE:PBF opened at $33.43 on Tuesday. The company has a fifty day moving average of $29.01 and a 200-day moving average of $23.89. The firm has a market capitalization of $3.87 billion, a P/E ratio of -3.89 and a beta of 0.85. The company has a quick ratio of 0.55, a current ratio of 1.31 and a debt-to-equity ratio of 0.46. PBF Energy Inc. has a twelve month low of $13.61 and a twelve month high of $35.25.

PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share for the quarter, beating the consensus estimate of ($1.19) by $0.16. The company had revenue of $7.48 billion during the quarter, compared to analyst estimates of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. PBF Energy’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.54) EPS. As a group, sell-side analysts anticipate that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were paid a $0.275 dividend. The ex-dividend date was Thursday, August 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.3%. PBF Energy’s payout ratio is currently -12.81%.

Wall Street Analyst Weigh In

PBF has been the subject of a number of research reports. Scotiabank raised their price objective on shares of PBF Energy from $25.00 to $28.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. The Goldman Sachs Group raised their price objective on shares of PBF Energy from $25.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Piper Sandler raised their price objective on shares of PBF Energy from $22.00 to $29.00 and gave the company an “underweight” rating in a report on Thursday, September 11th. Bank of America raised their price objective on shares of PBF Energy from $16.00 to $21.00 and gave the company an “underperform” rating in a report on Wednesday, September 3rd. Finally, Morgan Stanley set a $27.00 price target on shares of PBF Energy and gave the stock an “underweight” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $26.75.

About PBF Energy

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.