Leuthold Group LLC lifted its holdings in shares of PBF Energy Inc. (NYSE:PBF – Free Report) by 10.1% during the third quarter, HoldingsChannel reports. The firm owned 89,369 shares of the oil and gas company’s stock after purchasing an additional 8,181 shares during the quarter. Leuthold Group LLC’s holdings in PBF Energy were worth $6,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership increased its holdings in PBF Energy by 54.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock worth $153,452,000 after buying an additional 1,137,533 shares during the last quarter. Dimensional Fund Advisors LP raised its position in PBF Energy by 11.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,366,331 shares of the oil and gas company’s stock worth $207,953,000 after acquiring an additional 454,731 shares during the period. Empowered Funds LLC boosted its stake in PBF Energy by 198.0% in the first quarter. Empowered Funds LLC now owns 355,820 shares of the oil and gas company’s stock valued at $16,944,000 after acquiring an additional 236,418 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in PBF Energy in the first quarter valued at about $8,527,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in PBF Energy by 361.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 189,148 shares of the oil and gas company’s stock valued at $8,718,000 after acquiring an additional 148,124 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.
PBF Energy Stock Performance
NYSE:PBF opened at $69.57 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.96 and a current ratio of 1.59. PBF Energy Inc. has a 52-week low of $25.62 and a 52-week high of $92.46. The firm has a market cap of $8.25 billion, a price-to-earnings ratio of 3.11, a PEG ratio of 0.07 and a beta of 0.15. The business’s fifty day moving average is $77.59 and its 200 day moving average is $54.71.
PBF Energy (NYSE:PBF – Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $12.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.12 by $1.66. PBF Energy had a return on equity of 34.92% and a net margin of 6.98%. The business had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the prior year, the firm posted ($0.52) EPS. The firm’s quarterly revenue was up 58.6% on a year-over-year basis. Research analysts predict that PBF Energy Inc. will post 26.78 EPS for the current year.
PBF Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Thursday, November 12th will be given a dividend of $0.3250 per share. This is a boost from PBF Energy’s previous quarterly dividend of $0.2750. This represents a $1.30 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Thursday, November 12th. PBF Energy’s dividend payout ratio (DPR) is currently 4.91%.
Insider Transactions at PBF Energy
In other news, insider Control Empresarial De Capital sold 170,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $88.03, for a total value of $14,965,100.00. Following the completion of the transaction, the insider directly owned 13,326,127 shares in the company, valued at approximately $1,173,098,959.81. This trade represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Steven John Andriola sold 2,522 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $76.69, for a total transaction of $193,412.18. Following the transaction, the chief accounting officer directly owned 16,659 shares of the company’s stock, valued at approximately $1,277,578.71. This represents a 13.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 2,380,060 shares of company stock valued at $181,363,248. 5.50% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the stock. Mizuho increased their target price on shares of PBF Energy from $65.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, October 8th. Zacks Research raised shares of PBF Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Freedom Capital cut shares of PBF Energy from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. Wall Street Zen upgraded PBF Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Finally, The Goldman Sachs Group increased their price objective on PBF Energy from $81.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $70.50.
Read Our Latest Research Report on PBF
PBF Energy Profile
PBF Energy is an independent petroleum refiner and supplier headquartered in Parsippany, New Jersey. Founded in 2008, the company operates refineries in several U.S. regions, including the East Coast, Midwest, Gulf Coast and West Coast.
PBF processes crude oil and other feedstocks into transportation fuels and other petroleum products. Its product slate includes gasoline, diesel, jet fuel, heating oil, lubricants and petrochemical feedstocks, which it supplies to wholesale and commercial customers.
The company also has logistics operations that support the movement and storage of crude oil and refined products through pipelines, terminals and related infrastructure.
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