Industry News

Acadian Asset Management LLC Sells 43,798 Shares of PBF Energy Inc (NYSE:PBF)

By September 12, 2019 No Comments

Acadian Asset Management LLC lessened its stake in PBF Energy Inc (NYSE:PBF) by 83.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,963 shares of the oil and gas company’s stock after selling 43,798 shares during the quarter. Acadian Asset Management LLC’s holdings in PBF Energy were worth $281,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of PBF. Carillon Tower Advisers Inc. lifted its position in PBF Energy by 67.4% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 486,875 shares of the oil and gas company’s stock valued at $15,239,000 after purchasing an additional 196,000 shares during the period. Alps Advisors Inc. grew its stake in shares of PBF Energy by 20.1% during the second quarter. Alps Advisors Inc. now owns 17,321 shares of the oil and gas company’s stock worth $542,000 after purchasing an additional 2,893 shares during the period. Van ECK Associates Corp increased its holdings in PBF Energy by 97.1% in the second quarter. Van ECK Associates Corp now owns 1,217,755 shares of the oil and gas company’s stock valued at $38,116,000 after purchasing an additional 599,870 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in PBF Energy by 27.9% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 62,870 shares of the oil and gas company’s stock valued at $1,968,000 after purchasing an additional 13,729 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its stake in PBF Energy by 93.3% in the second quarter. GSA Capital Partners LLP now owns 27,131 shares of the oil and gas company’s stock valued at $849,000 after buying an additional 13,096 shares during the period. Hedge funds and other institutional investors own 84.02% of the company’s stock.

NYSE PBF opened at $25.44 on Wednesday. The business has a 50 day simple moving average of $24.05 and a 200 day simple moving average of $28.65. PBF Energy Inc has a 52-week low of $21.09 and a 52-week high of $53.91. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.54 and a current ratio of 1.50. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 7.80, a PEG ratio of 3.56 and a beta of 1.66.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $0.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.04). The company had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.23 billion. PBF Energy had a net margin of 0.09% and a return on equity of 6.34%. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.38 EPS. On average, analysts predict that PBF Energy Inc will post 1.01 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.72%. PBF Energy’s payout ratio is 36.81%.

Several research firms recently weighed in on PBF. Goldman Sachs Group raised shares of PBF Energy from a “sell” rating to a “neutral” rating and set a $27.00 price objective on the stock in a research note on Monday, August 5th. JPMorgan Chase & Co. lowered their target price on shares of PBF Energy from $28.00 to $23.00 and set an “underweight” rating for the company in a research note on Tuesday. Morgan Stanley set a $42.00 target price on shares of PBF Energy and gave the stock a “buy” rating in a report on Friday, May 17th. ValuEngine raised shares of PBF Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, June 22nd. Finally, TheStreet cut shares of PBF Energy from a “b-” rating to a “c” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $38.00.

In other news, insider Carso S.A. De C.V. Inversora bought 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average cost of $23.59 per share, with a total value of $1,887,200.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas J. Nimbley bought 40,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average price of $23.76 per share, for a total transaction of $950,400.00. Following the completion of the acquisition, the chief executive officer now owns 405,990 shares of the company’s stock, valued at approximately $9,646,322.40. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 2,274,973 shares of company stock worth $53,119,389. 3.50% of the stock is currently owned by company insiders.

PBF Energy Company Profile

PBF Energy, Inc engages in the operation of a petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States. It operates through the Refining and Logistics segments. The Refining segment refines crude oil and other feedstocks into petroleum products.

Further Reading: How does a 12b-1 fee affect fund performance?

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Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

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