Dockside LLC acquired a new position in PBF Energy Inc. (NYSE:PBF – Free Report) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 18,556 shares of the oil and gas company’s stock, valued at approximately $503,000.
A number of other large investors have also added to or reduced their stakes in PBF. Royal Bank of Canada increased its stake in PBF Energy by 63.6% in the 1st quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock worth $590,000 after acquiring an additional 12,025 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in PBF Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock worth $1,140,000 after acquiring an additional 2,609 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in PBF Energy by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company’s stock worth $4,996,000 after acquiring an additional 12,289 shares during the last quarter. Acadian Asset Management LLC increased its stake in PBF Energy by 261.0% in the 1st quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock worth $62,000 after acquiring an additional 2,354 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of PBF Energy in the 2nd quarter worth approximately $1,143,000. Institutional investors own 96.29% of the company’s stock.
Insider Transactions at PBF Energy
In related news, insider Control Empresarial De Capital sold 1,100,000 shares of the business’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $46.21, for a total transaction of $50,831,000.00. Following the completion of the transaction, the insider owned 22,996,898 shares in the company, valued at $1,062,686,656.58. The trade was a 4.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 6,888,225 shares of company stock worth $327,909,811. 5.50% of the stock is owned by insiders.
PBF Energy Price Performance
PBF Energy (NYSE:PBF – Get Free Report) last announced its earnings results on Thursday, April 30th. The oil and gas company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). PBF Energy had a negative return on equity of 4.12% and a net margin of 1.46%.The company had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.32 billion. During the same quarter last year, the firm posted ($3.53) EPS. PBF Energy’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities analysts expect that PBF Energy Inc. will post 6.91 EPS for the current year.
PBF Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were issued a dividend of $0.275 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.10 dividend on an annualized basis and a yield of 2.6%. PBF Energy’s payout ratio is presently 29.65%.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of PBF Energy in a report on Monday, May 11th. Morgan Stanley lifted their target price on PBF Energy from $34.00 to $38.00 and gave the stock an “underweight” rating in a report on Friday. Mizuho lifted their target price on PBF Energy from $43.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. The Goldman Sachs Group assumed coverage on PBF Energy in a report on Friday, April 10th. They issued a “neutral” rating and a $49.00 target price for the company. Finally, TD Cowen dropped their target price on PBF Energy from $41.00 to $36.00 and set a “sell” rating for the company in a report on Monday, April 27th. Two investment 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, PBF Energy presently has a consensus rating of “Reduce” and a consensus price target of $36.46.
Check Out Our Latest Report on PBF
About PBF Energy
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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