Range Financial Group LLC bought a new position in shares of PBF Energy Inc. (NYSE:PBF – Free Report) during the 3rd quarter, Holdings Channel.com reports. The firm bought 22,764 shares of the oil and gas company’s stock, valued at approximately $1,752,000.
Other institutional investors have also recently made changes to their positions in the company. Leonteq Securities AG acquired a new stake in shares of PBF Energy in the first quarter valued at about $33,000. Mather Group LLC. acquired a new position in shares of PBF Energy in the third quarter worth approximately $37,000. IFP Advisors Inc lifted its stake in shares of PBF Energy by 68.7% in the second quarter. IFP Advisors Inc now owns 1,451 shares of the oil and gas company’s stock worth $66,000 after acquiring an additional 591 shares during the period. Strs Ohio acquired a new position in shares of PBF Energy in the first quarter worth approximately $143,000. Finally, Nykredit A S bought a new stake in PBF Energy in the second quarter valued at approximately $149,000. Institutional investors own 96.29% of the company’s stock.
Analyst Ratings Changes
PBF has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of PBF Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Mizuho raised their price target on shares of PBF Energy from $65.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, October 8th. UBS Group restated a “buy” rating and issued a $99.00 price target on shares of PBF Energy in a research report on Monday, October 5th. Citigroup upped their price objective on shares of PBF Energy from $74.00 to $91.00 and gave the company a “neutral” rating in a research note on Tuesday, October 6th. Finally, TD Cowen reiterated a “hold” rating on shares of PBF Energy in a research report on Thursday, October 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $65.55.
View Our Latest Analysis on PBF Energy
PBF Energy Trading Up 2.2%
NYSE PBF opened at $83.03 on Wednesday. The stock has a market capitalization of $9.84 billion, a P/E ratio of 7.35, a P/E/G ratio of 0.06 and a beta of 0.18. The business has a 50 day simple moving average of $76.71 and a 200 day simple moving average of $57.81. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.33 and a quick ratio of 0.67. PBF Energy Inc. has a one year low of $25.62 and a one year high of $92.46.
PBF Energy (NYSE:PBF – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $6.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.15 by $2.07. The firm had revenue of $11.68 billion for the quarter, compared to analyst estimates of $9.61 billion. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%. The company’s revenue was up 56.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.03) earnings per share. Research analysts expect that PBF Energy Inc. will post 24.69 earnings per share for the current year.
PBF Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.2750 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. PBF Energy’s payout ratio is currently 9.73%.
Insider Activity at PBF Energy
In other PBF Energy news, insider Control Empresarial De Capital sold 490,000 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $71.26, for a total value of $34,917,400.00. Following the completion of the sale, the insider directly owned 14,992,128 shares in the company, valued at approximately $1,068,339,041.28. This trade represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas J. Nimbley sold 468,139 shares of PBF Energy stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $69.54, for a total transaction of $32,554,386.06. Following the completion of the sale, the director directly owned 793,737 shares of the company’s stock, valued at approximately $55,196,470.98. This trade represents a 37.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,146,374 shares of company stock worth $304,686,537 in the last quarter. Company insiders own 5.50% of the company’s stock.
PBF Energy Profile
PBF Energy Inc (NYSE:PBF) is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.
PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.
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