Versor Investments LP Takes Position in PBF Energy Inc. $PBF

Versor Investments LP acquired a new position in PBF Energy Inc. (NYSE:PBF) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,200 shares of the oil and gas company’s stock, valued at approximately $243,000.

A number of other large investors also recently added to or reduced their stakes in PBF. MassMutual Private Wealth & Trust FSB boosted its stake in PBF Energy by 761.0% in 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 acquiring an additional 1,248 shares during the last quarter. Allworth Financial LP lifted its stake in shares of PBF Energy by 194.3% in the 1st quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,090 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of PBF Energy in the 1st quarter valued at $35,000. Neo Ivy Capital Management bought a new position in shares of PBF Energy in the 1st quarter worth $37,000. Finally, Activest Wealth Management grew its stake in shares of PBF Energy by 199,900.0% during the first quarter. Activest Wealth Management now owns 2,000 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 1,999 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Stock Performance

PBF opened at $36.85 on Friday. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of -7.92 and a beta of 0.79. The business’s 50-day moving average price is $30.63 and its two-hundred day moving average price is $24.93. PBF Energy Inc. has a 1 year low of $13.61 and a 1 year high of $38.49. 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 released its quarterly earnings results 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. The firm had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.47 billion. PBF Energy had a negative return on equity of 15.88% and a negative net margin of 1.78%.The business’s revenue was down 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.50) EPS. Equities analysts expect that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, November 14th. PBF Energy’s dividend payout ratio (DPR) is currently -23.66%.

Insider Buying and Selling

In other news, SVP Connor Thomas L. O sold 30,000 shares of PBF Energy stock in a transaction dated 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 transaction, the senior vice president owned 207,984 shares of the company’s stock, valued at $7,071,456. This trade represents a 12.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas J. Nimbley sold 250,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $34.51, for a total transaction of $8,627,500.00. Following the completion of the sale, the director directly owned 790,716 shares in the company, valued at approximately $27,287,609.16. The trade was a 24.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 331,048 shares of company stock worth $11,390,041 over the last 90 days. Company insiders own 5.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup raised their target price on PBF Energy from $16.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Tudor Pickering downgraded shares of PBF Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, September 15th. Scotiabank boosted 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. Bank of America upped their target price on shares of PBF Energy from $16.00 to $21.00 and gave the company an “underperform” rating in a research note on Wednesday, September 3rd. Finally, Mizuho increased 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. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Sell” and a consensus price target of $27.83.

PBF Energy 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.