Bank of Montreal Can decreased its position in PBF Energy Inc (NYSE:PBF) by 69.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 849,783 shares of the oil and gas company’s stock after selling 1,969,638 shares during the period. Bank of Montreal Can owned approximately 0.71% of PBF Energy worth $26,597,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. World Asset Management Inc lifted its position in shares of PBF Energy by 5.7% in the 2nd quarter. World Asset Management Inc now owns 9,880 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 536 shares in the last quarter. Tealwood Asset Management Inc. lifted its position in shares of PBF Energy by 1.2% in the 2nd quarter. Tealwood Asset Management Inc. now owns 49,977 shares of the oil and gas company’s stock valued at $1,564,000 after acquiring an additional 609 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of PBF Energy by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 48,692 shares of the oil and gas company’s stock valued at $1,524,000 after acquiring an additional 685 shares in the last quarter. FinTrust Capital Advisors LLC purchased a new stake in PBF Energy in the 2nd quarter worth approximately $27,000. Finally, DekaBank Deutsche Girozentrale lifted its position in PBF Energy by 19.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 5,774 shares of the oil and gas company’s stock worth $173,000 after buying an additional 923 shares in the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.
PBF stock traded down $0.19 during trading on Thursday, hitting $25.68. 42,760 shares of the stock traded hands, compared to its average volume of 1,931,868. PBF Energy Inc has a one year low of $21.09 and a one year high of $53.91. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 7.81, a P/E/G ratio of 3.52 and a beta of 1.65. The company has a current ratio of 1.50, a quick ratio of 0.54 and a debt-to-equity ratio of 0.62. The company has a 50 day simple moving average of $24.02 and a 200 day simple moving average of $28.61.
PBF Energy (NYSE:PBF) last announced its 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). PBF Energy had a return on equity of 6.34% and a net margin of 0.09%. The company had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.23 billion. During the same period in the prior year, the firm posted $1.38 earnings per share. The company’s revenue was down 11.9% on a year-over-year basis. As a group, analysts predict that PBF Energy Inc will post 1.02 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.67%. The ex-dividend date of this dividend was Wednesday, August 14th. PBF Energy’s dividend payout ratio is 36.81%.
In related news, CEO Thomas J. Nimbley purchased 40,000 shares of PBF Energy stock in a transaction dated Friday, June 14th. The stock was bought 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 directly owns 405,990 shares of the company’s stock, valued at $9,646,322.40. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Carso S.A. De C.V. Inversora purchased 686,500 shares of PBF Energy stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $24.80 per share, with a total value of $17,025,200.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 2,274,973 shares of company stock valued at $53,119,389. 3.50% of the stock is owned by corporate insiders.
A number of research firms have recently weighed in on PBF. Morgan Stanley set a $42.00 price target on shares of PBF Energy and gave the company a “buy” rating in a report on Friday, May 17th. Cowen restated a “market perform” rating and set a $30.00 price target (down previously from $33.00) on shares of PBF Energy in a report on Friday, August 2nd. Goldman Sachs Group upgraded shares of PBF Energy from a “sell” rating to a “neutral” rating and set a $27.00 target price on the stock in a research note on Monday, August 5th. ValuEngine upgraded shares of PBF Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 22nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of PBF Energy from $28.00 to $23.00 and set an “underweight” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $38.00.
PBF Energy 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.
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