Millennium Management LLC Raises Stake in PBF Energy Inc (PBF)

Millennium Management LLC boosted its holdings in shares of PBF Energy Inc (NYSE:PBF) by 57.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 608,346 shares of the oil and gas company’s stock after buying an additional 220,976 shares during the period. Millennium Management LLC owned approximately 0.51% of PBF Energy worth $19,875,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PBF. Penserra Capital Management LLC grew its stake in shares of PBF Energy by 675.4% in the fourth 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 last quarter. First Foundation Advisors bought a new stake in shares of PBF Energy in the third quarter worth about $207,000. Great Lakes Advisors LLC bought a new stake in PBF Energy during the 3rd quarter valued at approximately $221,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position 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 valued at $156,000 after acquiring an additional 1,670 shares in the last quarter. Finally, Hilltop Holdings Inc. bought a new stake in PBF Energy during the 3rd quarter valued at approximately $309,000. 95.23% of the stock is owned by institutional investors.

Several analysts have weighed in on PBF shares. Morgan Stanley raised PBF Energy from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $50.00 to $48.00 in a research report on Wednesday, January 9th. Goldman Sachs Group cut PBF Energy from a “neutral” rating to a “sell” rating and cut their price objective for the company from $35.00 to $34.00 in a research report on Friday, January 25th. Barclays reissued a “buy” rating and issued a $62.00 price target on shares of PBF Energy in a research report on Friday, January 11th. Piper Jaffray Companies reissued an “overweight” rating on shares of PBF Energy in a research report on Thursday, January 10th. Finally, Credit Suisse Group dropped their price target on PBF Energy from $51.00 to $47.00 and set a “neutral” rating on the stock in a research report on Monday, January 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. PBF Energy has a consensus rating of “Hold” and a consensus target price of $49.56.

NYSE PBF traded down $0.85 during mid-day trading on Wednesday, reaching $33.05. The stock had a trading volume of 1,356,885 shares, compared to its average volume of 1,713,945. PBF Energy Inc has a 1 year low of $28.66 and a 1 year high of $53.91. The firm has a market cap of $3.94 billion, a P/E ratio of 10.14, a PEG ratio of 1.57 and a beta of 1.37. The company has a quick ratio of 0.64, a current ratio of 1.52 and a debt-to-equity ratio of 0.59.

PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, February 14th. The oil and gas company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. The company had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.62 billion. PBF Energy had a net margin of 0.47% and a return on equity of 11.96%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.04) EPS. As a group, equities analysts expect that PBF Energy Inc will post 2.43 earnings per share for the current fiscal year.

In related news, CEO Thomas J. Nimbley bought 25,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was acquired at an average cost of $30.03 per share, for a total transaction of $750,750.00. Following the purchase, the chief executive officer now owns 365,990 shares in the company, valued at $10,990,679.70. The acquisition was disclosed in a filing with the SEC, which is available through this link. 3.20% of the stock is currently owned by insiders.

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About PBF Energy

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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Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

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