Comerica Bank lessened its position in PBF Energy Inc (NYSE:PBF) by 2.1% in the 3rd quarter, Holdings Channel reports. The fund owned 511,273 shares of the oil and gas company’s stock after selling 10,716 shares during the period. Comerica Bank’s holdings in PBF Energy were worth $22,046,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in PBF. Bank of New York Mellon Corp lifted its holdings in shares of PBF Energy by 86.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,003,420 shares of the oil and gas company’s stock worth $167,862,000 after acquiring an additional 1,850,884 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of PBF Energy by 408.3% in the 2nd quarter. OppenheimerFunds Inc. now owns 1,026,916 shares of the oil and gas company’s stock worth $43,059,000 after acquiring an additional 824,871 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in PBF Energy by 114.9% during the 1st quarter. Allianz Asset Management GmbH now owns 1,080,440 shares of the oil and gas company’s stock valued at $36,627,000 after buying an additional 577,582 shares in the last quarter. Hennessy Advisors Inc. lifted its holdings in PBF Energy by 579.1% during the 3rd quarter. Hennessy Advisors Inc. now owns 520,900 shares of the oil and gas company’s stock valued at $25,998,000 after buying an additional 444,200 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. bought a new stake in PBF Energy during the 2nd quarter valued at about $18,523,000. Hedge funds and other institutional investors own 94.18% of the company’s stock.
NYSE PBF opened at $43.54 on Friday. The company has a current ratio of 1.79, a quick ratio of 0.63 and a debt-to-equity ratio of 0.60. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 1.00 and a beta of 1.51. PBF Energy Inc has a one year low of $28.25 and a one year high of $53.91.
PBF Energy (NYSE:PBF) last posted its earnings results on Wednesday, October 31st. The oil and gas company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.10. The business had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.21 billion. PBF Energy had a net margin of 2.64% and a return on equity of 8.17%. The company’s revenue for the quarter was up 39.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 EPS. On average, equities research analysts expect that PBF Energy Inc will post 2.86 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Wednesday, November 14th. PBF Energy’s dividend payout ratio (DPR) is 105.26%.
A number of equities research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of PBF Energy from $47.00 to $50.00 and gave the company a “hold” rating in a report on Wednesday, August 15th. Mizuho assumed coverage on shares of PBF Energy in a report on Wednesday, August 1st. They set a “buy” rating and a $55.00 price objective for the company. Morgan Stanley set a $54.00 price objective on shares of PBF Energy and gave the company a “sell” rating in a report on Friday, October 12th. Goldman Sachs Group upgraded shares of PBF Energy from a “sell” rating to a “neutral” rating in a report on Friday, September 7th. Finally, Macquarie upgraded shares of PBF Energy from a “neutral” rating to an “outperform” rating in a report on Monday, July 9th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. PBF Energy currently has a consensus rating of “Hold” and a consensus price target of $45.58.
About PBF Energy
PBF Energy Inc, together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through 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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