Readystate Asset Management LP Has $374,000 Stake in PBF Energy Inc. (NYSE:PBF)

Readystate Asset Management LP grew its position in shares of PBF Energy Inc. (NYSE:PBF) by 34.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,580 shares of the oil and gas company’s stock after acquiring an additional 5,017 shares during the quarter. Readystate Asset Management LP’s holdings in PBF Energy were worth $374,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PBF. Bank of New York Mellon Corp lifted its holdings in PBF Energy by 14.0% during 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 purchasing an additional 260,464 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in PBF Energy by 150.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company’s stock valued at $56,191,000 after purchasing an additional 1,272,254 shares in the last quarter. American Century Companies Inc. raised its stake in PBF Energy by 11.2% in the fourth quarter. American Century Companies Inc. now owns 1,865,625 shares of the oil and gas company’s stock valued at $49,532,000 after purchasing an additional 187,351 shares in the last quarter. Two Sigma Investments LP raised its stake in PBF Energy by 12.6% in the fourth quarter. Two Sigma Investments LP now owns 1,645,584 shares of the oil and gas company’s stock valued at $43,690,000 after purchasing an additional 184,194 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in PBF Energy by 60.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,492,573 shares of the oil and gas company’s stock valued at $39,628,000 after acquiring an additional 562,287 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Analyst Ratings Changes

PBF has been the topic of a number of analyst reports. Morgan Stanley upped their price objective on shares of PBF Energy from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. The Goldman Sachs Group cut their price target on PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, March 27th. Piper Sandler increased their price target on PBF Energy from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Tuesday. Mizuho upped their target price on PBF Energy from $22.00 to $23.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 13th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $25.00 target price (up from $16.00) on shares of PBF Energy in a research report on Friday, July 11th. Seven investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, PBF Energy presently has an average rating of “Hold” and a consensus target price of $25.08.

PBF Energy Trading Up 1.2%

PBF stock opened at $24.31 on Thursday. PBF Energy Inc. has a 52 week low of $13.62 and a 52 week high of $42.64. The company has a market cap of $2.81 billion, a price-to-earnings ratio of -2.67 and a beta of 0.84. The company has a quick ratio of 0.52, a current ratio of 1.29 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $22.34 and a 200-day simple moving average of $22.18.

PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share for the quarter, beating the consensus estimate of ($3.50) by $0.41. The company had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.27 billion. PBF Energy had a negative return on equity of 15.67% and a negative net margin of 3.30%. The company’s revenue was down 18.3% on a year-over-year basis. During the same period last year, the firm earned $0.85 earnings per share. On average, equities research analysts expect that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.53%. PBF Energy’s dividend payout ratio (DPR) is presently -12.09%.

Insider Buying and Selling at PBF Energy

In other news, insider Control Empresarial De Capital bought 48,500 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were purchased at an average price of $17.99 per share, with a total value of $872,515.00. Following the completion of the acquisition, the insider directly owned 30,823,498 shares in the company, valued at approximately $554,514,729.02. This trade represents a 0.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.30% of the company’s stock.

PBF Energy Company 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.