Fieldview Capital Management LLC lifted its position in shares of PBF Energy Inc. (NYSE:PBF – Free Report) by 548.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 81,873 shares of the oil and gas company’s stock after acquiring an additional 69,241 shares during the quarter. Fieldview Capital Management LLC owned approximately 0.07% of PBF Energy worth $2,220,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. First Eagle Investment Management LLC grew its stake in shares of PBF Energy by 7.9% during the 3rd quarter. First Eagle Investment Management LLC now owns 547,546 shares of the oil and gas company’s stock worth $16,519,000 after acquiring an additional 40,129 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of PBF Energy during the 3rd quarter worth $823,000. Quantbot Technologies LP bought a new position in shares of PBF Energy during the 3rd quarter worth $1,546,000. Goldman Sachs Group Inc. grew its stake in shares of PBF Energy by 127.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,327,255 shares of the oil and gas company’s stock worth $171,595,000 after acquiring an additional 3,550,820 shares during the period. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of PBF Energy during the 4th quarter worth $1,485,000. Institutional investors own 96.29% of the company’s stock.
Wall Street Analysts Forecast Growth
PBF has been the subject of several research reports. Zacks Research downgraded PBF Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Scotiabank increased their price objective on PBF Energy from $28.00 to $34.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Wall Street Zen cut PBF Energy from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. BMO Capital Markets increased their price objective on PBF Energy from $43.00 to $50.00 and gave the stock a “market perform” rating in a report on Thursday, April 2nd. Finally, Mizuho increased their price objective on PBF Energy from $43.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $36.46.
PBF Energy Stock Performance
Shares of PBF opened at $41.81 on Friday. The stock’s 50-day simple moving average is $41.59 and its 200 day simple moving average is $37.38. PBF Energy Inc. has a 52-week low of $20.61 and a 52-week high of $52.18. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 0.15 and a beta of 0.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.62 and a current ratio of 1.31.
PBF Energy (NYSE:PBF – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($0.09). PBF Energy had a net margin of 1.46% and a negative return on equity of 4.12%. The business had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.32 billion. During the same period in the previous year, the business earned ($3.53) EPS. The business’s revenue was up 11.9% on a year-over-year basis. Research analysts forecast that PBF Energy Inc. will post 6.91 EPS for the current fiscal year.
PBF Energy Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 14th were issued a $0.275 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.10 annualized dividend and a dividend yield of 2.6%. PBF Energy’s dividend payout ratio (DPR) is presently 29.65%.
Insider Activity
In related news, Director Thomas J. Nimbley sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $50.62, for a total transaction of $2,531,000.00. Following the transaction, the director directly owned 790,716 shares of the company’s stock, valued at approximately $40,026,043.92. This trade represents a 5.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Control Empresarial De Capital sold 100,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $43.17, for a total value of $4,317,000.00. Following the transaction, the insider directly owned 18,117,698 shares in the company, valued at approximately $782,141,022.66. This represents a 0.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 6,937,425 shares of company stock worth $330,088,879. Insiders own 5.50% of the company’s stock.
PBF Energy Company Profile
PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.
The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.
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