Meeder Asset Management Inc. lessened its position in PBF Energy Inc (NYSE:PBF) by 4.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 15,127 shares of the oil and gas company’s stock after selling 709 shares during the quarter. Meeder Asset Management Inc.’s holdings in PBF Energy were worth $470,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Penserra Capital Management LLC increased its holdings in PBF Energy by 675.4% during the 4th quarter. Penserra Capital Management LLC now owns 3,784 shares of the oil and gas company’s stock worth $123,000 after purchasing an additional 3,296 shares during the period. Great Lakes Advisors LLC purchased a new stake in PBF Energy during the 3rd quarter worth about $221,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in PBF Energy by 53.5% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,790 shares of the oil and gas company’s stock worth $156,000 after purchasing an additional 1,670 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in PBF Energy during the 3rd quarter worth about $326,000. Finally, Magnus Financial Group LLC purchased a new stake in PBF Energy during the 4th quarter worth about $229,000. Institutional investors own 95.23% of the company’s stock.
In related news, CEO Thomas J. Nimbley acquired 25,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was bought 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 of the company’s stock, valued at $10,990,679.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is currently owned by company insiders.
PBF Energy (NYSE:PBF) last announced its earnings results on Thursday, February 14th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. PBF Energy had a return on equity of 11.96% and a net margin of 0.47%. The firm had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the prior year, the firm earned ($0.04) EPS. The business’s revenue was down 3.7% on a year-over-year basis. As a group, research analysts forecast that PBF Energy Inc will post 2.43 earnings per share for the current fiscal year.
Several brokerages have weighed in on PBF. TheStreet downgraded PBF Energy from a “b” rating to a “c+” rating in a report on Friday, February 15th. Tudor Pickering downgraded PBF Energy from a “buy” rating to a “hold” rating in a report on Friday, February 8th. Barclays restated a “buy” rating and set a $62.00 price target on shares of PBF Energy in a report on Friday, January 11th. Goldman Sachs Group downgraded PBF Energy from a “neutral” rating to a “sell” rating and cut their price target for the stock from $35.00 to $34.00 in a report on Friday, January 25th. Finally, ValuEngine upgraded PBF Energy from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. PBF Energy currently has an average rating of “Hold” and a consensus price target of $49.56.
PBF Energy Company Profile
PBF Energy Inc, together with 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.
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