Advantage Investment Management LLC lessened its stake in PBF Energy Inc. (NYSE:PBF) by 60.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,113 shares of the oil and gas company’s stock after selling 99,439 shares during the period. Advantage Investment Management LLC owned approximately 0.06% of PBF Energy worth $1,798,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Creative Planning raised its holdings in PBF Energy by 92.7% during the 2nd quarter. Creative Planning now owns 5,203 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 2,503 shares during the last quarter. Flinton Capital Management LLC bought a new stake in PBF Energy during the 2nd quarter valued at $119,000. Sei Investments Co. raised its holdings in PBF Energy by 391.7% during the 2nd quarter. Sei Investments Co. now owns 6,043 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 4,814 shares during the last quarter. Riverhead Capital Management LLC bought a new stake in PBF Energy during the 2nd quarter valued at $186,000. Finally, LS Investment Advisors LLC bought a new stake in PBF Energy during the 2nd quarter valued at $188,000.
Shares of PBF Energy Inc. (NYSE:PBF) traded up $0.73 during mid-day trading on Tuesday, reaching $32.59. 2,524,900 shares of the company traded hands, compared to its average volume of 2,420,276. PBF Energy Inc. has a one year low of $18.48 and a one year high of $33.75. The stock has a market cap of $3,505.75, a P/E ratio of 67.79, a price-to-earnings-growth ratio of 1.94 and a beta of 1.46. The company has a quick ratio of 0.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.81.
PBF Energy (NYSE:PBF) last announced its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported $1.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.22. PBF Energy had a net margin of 1.14% and a return on equity of 2.35%. The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the prior year, the firm posted ($0.16) EPS. PBF Energy’s revenue for the quarter was up 21.4% on a year-over-year basis. analysts anticipate that PBF Energy Inc. will post 1.64 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 29th. Shareholders of record on Monday, November 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.68%. The ex-dividend date was Friday, November 10th. PBF Energy’s dividend payout ratio is currently 57.42%.
PBF has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of PBF Energy from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Saturday, October 14th. ValuEngine upgraded shares of PBF Energy from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Barclays restated an “underweight” rating and issued a $26.00 price objective (up from $24.00) on shares of PBF Energy in a report on Tuesday, October 10th. Royal Bank Of Canada restated a “hold” rating and issued a $30.00 price objective on shares of PBF Energy in a report on Tuesday, November 7th. Finally, Citigroup decreased their price objective on shares of PBF Energy from $33.50 to $33.00 and set a “buy” rating for the company in a report on Monday, August 7th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. PBF Energy has an average rating of “Hold” and an average price target of $28.00.
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About PBF Energy
PBF Energy Inc (PBF Energy) is a holding company. The Company is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products in the United States. The Company operates through two segments: Refining and Logistics.
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