Envestnet Asset Management Inc. decreased its position in shares of PBF Energy Inc (NYSE:PBF) by 11.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,014 shares of the oil and gas company’s stock after selling 10,627 shares during the period. Envestnet Asset Management Inc. owned approximately 0.07% of PBF Energy worth $2,567,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. World Asset Management Inc increased its position in shares of PBF Energy by 5.7% in the second quarter. World Asset Management Inc now owns 9,880 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 536 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of PBF Energy by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 48,692 shares of the oil and gas company’s stock worth $1,524,000 after purchasing an additional 685 shares during the period. FinTrust Capital Advisors LLC bought a new position in shares of PBF Energy in the second quarter worth $27,000. DekaBank Deutsche Girozentrale increased its position in shares of PBF Energy by 19.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 5,774 shares of the oil and gas company’s stock worth $173,000 after purchasing an additional 923 shares during the period. Finally, Arizona State Retirement System increased its position in shares of PBF Energy by 1.1% in the second quarter. Arizona State Retirement System now owns 86,984 shares of the oil and gas company’s stock worth $2,723,000 after purchasing an additional 927 shares during the period. Hedge funds and other institutional investors own 83.15% of the company’s stock.
In other news, insider Carso S.A. De C.V. Inversora purchased 686,500 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $24.80 per share, with a total value of $17,025,200.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas J. Nimbley purchased 40,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were purchased at an average cost of $23.76 per share, for a total transaction of $950,400.00. Following the completion of the purchase, the chief executive officer now directly 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. Insiders purchased 2,194,973 shares of company stock worth $51,232,189 over the last ninety days. 3.50% of the stock is currently owned by insiders.
A number of research analysts recently commented on the company. Credit Suisse Group upgraded PBF Energy from a “neutral” rating to an “outperform” rating and set a $42.00 price target on the stock in a research report on Wednesday, May 15th. Cowen restated a “market perform” rating and issued a $30.00 price target (down previously from $33.00) on shares of PBF Energy in a research report on Friday, August 2nd. Morgan Stanley set a $42.00 price target on PBF Energy and gave the stock a “buy” rating in a research report on Friday, May 17th. Goldman Sachs Group upgraded PBF Energy from a “sell” rating to a “neutral” rating and set a $27.00 price target on the stock in a research report on Monday, August 5th. Finally, TheStreet cut PBF Energy from a “b-” rating to a “c” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $42.57.
NYSE:PBF opened at $23.70 on Friday. The stock’s 50-day simple moving average is $24.99 and its 200 day simple moving average is $29.25. The firm has a market capitalization of $2.84 billion, a PE ratio of 7.27, a price-to-earnings-growth ratio of 3.30 and a beta of 1.62. The company has a quick ratio of 0.54, a current ratio of 1.50 and a debt-to-equity ratio of 0.62. PBF Energy Inc has a twelve month low of $21.09 and a twelve month high of $53.91.
PBF Energy (NYSE:PBF) last released its quarterly earnings data on Thursday, August 1st. The oil and gas company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.04). The business had revenue of $6.56 billion during the quarter, compared to analyst estimates 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 last year, the business earned $1.38 earnings per share. On average, analysts anticipate that PBF Energy Inc will post 1.01 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend was Wednesday, August 14th. PBF Energy’s dividend payout ratio (DPR) is presently 36.81%.
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.
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