AlphaQuest LLC Has $715,000 Position in PBF Energy Inc. $PBF

AlphaQuest LLC boosted its holdings in PBF Energy Inc. (NYSE:PBF) by 193.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 33,017 shares of the oil and gas company’s stock after acquiring an additional 21,759 shares during the quarter. AlphaQuest LLC’s holdings in PBF Energy were worth $715,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its holdings in PBF Energy by 761.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 1,248 shares during the last quarter. Allworth Financial LP boosted its holdings in PBF Energy by 194.3% during the 1st quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 1,090 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in PBF Energy during the 1st quarter worth $35,000. Neo Ivy Capital Management purchased a new position in PBF Energy during the 1st quarter worth $37,000. Finally, Activest Wealth Management boosted its holdings in PBF Energy by 199,900.0% during the 1st quarter. Activest Wealth Management now owns 2,000 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 1,999 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Connor Thomas L. O sold 30,000 shares of the stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $34.00, for a total transaction of $1,020,000.00. Following the sale, the senior vice president owned 207,984 shares of the company’s stock, valued at approximately $7,071,456. This represents a 12.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Trecia M. Canty sold 50,000 shares of PBF Energy stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $34.13, for a total value of $1,706,500.00. Following the transaction, the senior vice president directly owned 173,332 shares of the company’s stock, valued at $5,915,821.16. The trade was a 22.39% decrease in their position. The disclosure for this sale can be found here. 5.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PBF. Morgan Stanley set a $27.00 price objective on shares of PBF Energy and gave the stock an “underweight” rating in a report on Friday, October 3rd. Wells Fargo & Company lifted their price objective on shares of PBF Energy from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Piper Sandler lifted their price objective on shares of PBF Energy from $22.00 to $29.00 and gave the stock an “underweight” rating in a report on Thursday, September 11th. UBS Group lifted their target price on PBF Energy from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Finally, The Goldman Sachs Group lifted their target price on PBF Energy from $25.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Buy rating, five have given a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $26.75.

PBF Energy Price Performance

NYSE PBF opened at $33.43 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 1.31 and a debt-to-equity ratio of 0.46. The company has a market cap of $3.87 billion, a PE ratio of -3.89 and a beta of 0.85. PBF Energy Inc. has a 52 week low of $13.61 and a 52 week high of $35.25. The firm’s 50-day simple moving average is $29.01 and its two-hundred day simple moving average is $23.89.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.19) by $0.16. The company had revenue of $7.48 billion for the quarter, compared to analyst estimates of $6.65 billion. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The company’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.54) earnings per share. Research analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.3%. PBF Energy’s dividend payout ratio is currently -12.81%.

About PBF Energy

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products from crude oil.