World Asset Management Inc raised its holdings in PBF Energy Inc (NYSE:PBF) by 5.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,880 shares of the oil and gas company’s stock after purchasing an additional 536 shares during the quarter. World Asset Management Inc’s holdings in PBF Energy were worth $309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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 88.75% of the company’s stock.
A number of research analysts have issued reports on the company. Goldman Sachs Group upgraded PBF Energy from a “sell” rating to a “neutral” rating and set a $27.00 price objective for the company in a research note on Monday. Raymond James reduced their price objective 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. ValuEngine upgraded PBF Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 22nd. Bank of America upgraded PBF Energy from an “underperform” rating to a “neutral” rating in a research note on Monday, April 29th. Finally, 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $44.63.
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 6.37% and a net margin of 0.09%. 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.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 5.24%. PBF Energy’s payout ratio is 36.81%.
In other news, insider Carso S.A. De C.V. Inversora purchased 1,609,796 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was bought at an average price of $28.95 per share, for a total transaction of $46,603,594.20. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas J. Nimbley purchased 40,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were purchased at an average price of $23.76 per share, with a total value of $950,400.00. Following the purchase, the chief executive officer now directly owns 405,990 shares in the company, valued at approximately $9,646,322.40. The disclosure for this purchase can be found here. 3.50% of the stock is currently owned by corporate insiders.
PBF Energy Company Profile
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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