Islay Capital Management LLC Makes New Investment in PBF Energy Inc. $PBF

Islay Capital Management LLC purchased a new position in PBF Energy Inc. (NYSE:PBF) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,794 shares of the oil and gas company’s stock, valued at approximately $831,000.

Other large investors have also bought and sold shares of the company. Engineers Gate Manager LP boosted its holdings in PBF Energy by 90.4% in the second quarter. Engineers Gate Manager LP now owns 63,433 shares of the oil and gas company’s stock worth $2,887,000 after purchasing an additional 30,117 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of PBF Energy by 81.7% in the fourth quarter. Hsbc Holdings PLC now owns 67,674 shares of the oil and gas company’s stock worth $1,840,000 after buying an additional 30,430 shares during the last quarter. Fifth Third Bancorp raised its position in PBF Energy by 2,197.1% in the first quarter. Fifth Third Bancorp now owns 32,114 shares of the oil and gas company’s stock worth $1,529,000 after acquiring an additional 30,716 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of PBF Energy by 54.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,222,433 shares of the oil and gas company’s stock worth $153,452,000 after purchasing an additional 1,137,533 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in PBF Energy during the first quarter valued at $2,965,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Trading Up 1.9%

Shares of PBF stock traded up $1.51 during trading hours on Tuesday, reaching $82.77. 979,792 shares of the stock were exchanged, compared to its average volume of 3,345,977. The company has a current ratio of 1.33, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27. PBF Energy Inc. has a 12-month low of $25.62 and a 12-month high of $92.46. The firm has a market capitalization of $9.81 billion, a price-to-earnings ratio of 7.34, a price-to-earnings-growth ratio of 0.06 and a beta of 0.18. The company’s 50-day moving average price is $76.43 and its 200-day moving average price is $57.55.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, July 30th. The oil and gas company reported $6.22 EPS for the quarter, beating analysts’ consensus estimates of $4.15 by $2.07. PBF Energy had a return on equity of 11.27% and a net margin of 3.94%. The firm had revenue of $11.68 billion for the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter in the prior year, the firm posted ($1.03) earnings per share. The company’s quarterly revenue was up 56.2% on a year-over-year basis. As a group, equities analysts anticipate that PBF Energy Inc. will post 24.69 earnings per share for the current year.

PBF Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.2750 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, August 14th. PBF Energy’s payout ratio is presently 9.73%.

Analysts Set New Price Targets

Several research firms have recently commented on PBF. Citigroup raised their price objective on PBF Energy from $74.00 to $91.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 6th. Mizuho upped their price objective on PBF Energy from $65.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, October 8th. Zacks Research raised PBF Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. BMO Capital Markets reaffirmed a “market perform” rating on shares of PBF Energy in a report on Thursday, October 1st. Finally, The Goldman Sachs Group upped their target price on shares of PBF Energy from $81.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, PBF Energy currently has an average rating of “Hold” and an average target price of $65.55.

Insider Activity

In other PBF Energy news, Director Thomas Nimbley sold 116,008 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $73.73, for a total transaction of $8,553,269.84. Following the transaction, the director owned 793,737 shares of the company’s stock, valued at approximately $58,522,229.01. This trade represents a 12.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Control Empresarial De Capital sold 170,000 shares of the stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $88.03, for a total value of $14,965,100.00. Following the sale, the insider directly owned 13,326,127 shares in the company, valued at $1,173,098,959.81. This trade represents a 1.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 4,146,374 shares of company stock valued at $304,686,537 over the last 90 days. 5.50% of the stock is currently owned by corporate insiders.

PBF Energy Profile

PBF Energy Inc (NYSE:PBF) is an independent petroleum refiner and supplier of transportation fuels, heating oil, petrochemical feedstocks, lubricants, asphalt and other refined petroleum products. The company purchases crude oil and other feedstocks, processes them at its refineries, and sells the resulting products to branded and unbranded fuel retailers, distributors, wholesalers and commercial customers.

PBF operates refineries in several major U.S. refining regions, including the East Coast, Midwest, Gulf Coast and West Coast.