NEXT Financial Group Inc Acquires Shares of 12,893 PBF Energy Inc (NYSE:PBF)

NEXT Financial Group Inc acquired a new stake in PBF Energy Inc (NYSE:PBF) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 12,893 shares of the oil and gas company’s stock, valued at approximately $404,000.

A number of other large investors have also made changes to their positions in the business. BlackRock Inc. grew its stake in PBF Energy by 1.0% in the 1st quarter. BlackRock Inc. now owns 10,948,546 shares of the oil and gas company’s stock valued at $340,937,000 after purchasing an additional 104,616 shares during the period. Bank of Montreal Can grew its stake in 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 during the period. Geode Capital Management LLC grew its stake in 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 during the period. Norges Bank bought a new position in PBF Energy in the 4th quarter valued at $57,524,000. Finally, Westfield Capital Management Co. LP grew its stake in PBF Energy by 5.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,584,192 shares of the oil and gas company’s stock valued at $49,332,000 after purchasing an additional 78,162 shares during the period. Hedge funds and other institutional investors own 88.88% of the company’s stock.

A number of research analysts have issued reports on PBF shares. Cowen restated a “market perform” rating and issued a $30.00 price objective (down previously from $33.00) on shares of PBF Energy in a research note on Friday. ValuEngine upgraded PBF Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 22nd. TheStreet downgraded PBF Energy from a “b-” rating to a “c” rating in a research note on Thursday. Bank of America upgraded PBF Energy from an “underperform” rating to a “neutral” rating in a research note on Monday, April 29th. Finally, Raymond James cut 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 investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. PBF Energy has an average rating of “Hold” and an average price target of $45.56.

Shares of PBF stock traded down $0.62 on Friday, hitting $24.50. 2,530,038 shares of the stock were exchanged, compared to its average volume of 1,406,609. The company has a quick ratio of 0.54, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 7.52, a PEG ratio of 2.99 and a beta of 1.62. PBF Energy Inc has a one year low of $23.67 and a one year high of $53.91. The firm has a 50 day moving average price of $28.11.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, August 1st. The oil and gas company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.04). The firm had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.23 billion. PBF Energy had a return on equity of 8.25% and a net margin of 1.23%. The firm’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.38 EPS. Sell-side analysts expect that PBF Energy Inc will post 1.33 earnings per share for the current year.

In related news, CEO Thomas J. Nimbley acquired 40,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average price of $23.76 per share, with a total value of $950,400.00. Following the acquisition, the chief executive officer now owns 405,990 shares of the company’s stock, valued at approximately $9,646,322.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carso S.A. De C.V. Inversora acquired 1,609,796 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average cost of $28.95 per share, for a total transaction of $46,603,594.20. The disclosure for this purchase can be found here. 3.50% of the stock is currently owned by corporate insiders.

About PBF Energy

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

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