MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in PBF Energy Inc (NYSE:PBF) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,850 shares of the oil and gas company’s stock, valued at approximately $119,000.
A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc raised its stake in shares of PBF Energy by 10.0% in the 3rd quarter. Vanguard Group Inc now owns 12,336,119 shares of the oil and gas company’s stock valued at $615,695,000 after acquiring an additional 1,121,082 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of PBF Energy by 4.4% in the 4th quarter. BlackRock Inc. now owns 10,843,930 shares of the oil and gas company’s stock valued at $354,272,000 after purchasing an additional 458,745 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of PBF Energy by 87.9% in the 1st quarter. Bank of Montreal Can now owns 2,819,421 shares of the oil and gas company’s stock valued at $87,796,000 after purchasing an additional 1,319,222 shares in the last quarter. APG Asset Management N.V. boosted its holdings in shares of PBF Energy by 18.8% in the 4th quarter. APG Asset Management N.V. now owns 1,796,200 shares of the oil and gas company’s stock valued at $51,333,000 after purchasing an additional 284,800 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of PBF Energy by 15.8% in the 4th quarter. Geode Capital Management LLC now owns 1,786,685 shares of the oil and gas company’s stock valued at $58,370,000 after purchasing an additional 243,762 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.
In other PBF Energy news, CEO Thomas J. Nimbley acquired 25,000 shares of the stock in a transaction dated Monday, March 11th. The stock was purchased at an average cost of $30.03 per share, with a total value of $750,750.00. Following the transaction, the chief executive officer now owns 365,990 shares in the company, valued at approximately $10,990,679.70. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.50% of the company’s stock.
PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported ($1.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.95) by ($0.23). PBF Energy had a return on equity of 8.25% and a net margin of 1.23%. The business had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same period last year, the business posted ($0.29) earnings per share. The business’s revenue was down 10.1% on a year-over-year basis. Analysts expect that PBF Energy Inc will post 1.91 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Wednesday, May 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.85%. The ex-dividend date is Tuesday, May 14th. PBF Energy’s dividend payout ratio (DPR) is presently 36.81%.
PBF has been the subject of a number of research reports. Goldman Sachs Group cut PBF Energy from a “neutral” rating to a “sell” rating and dropped their price target for the company from $35.00 to $34.00 in a research note on Friday, January 25th. ValuEngine upgraded PBF Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Tudor Pickering cut PBF Energy from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. TheStreet cut PBF Energy from a “b” rating to a “c+” rating in a research note on Friday, February 15th. Finally, Raymond James dropped their price target on PBF Energy from $41.00 to $40.00 and set an “outperform” rating for the company in a research note on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. PBF Energy has a consensus rating of “Hold” and a consensus target price of $48.33.
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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