Barings LLC trimmed its holdings in PBF Energy Inc (NYSE:PBF) by 59.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,200 shares of the oil and gas company’s stock after selling 7,500 shares during the quarter. Barings LLC’s holdings in PBF Energy were worth $260,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. boosted its stake in PBF Energy by 0.5% in the 2nd quarter. BlackRock Inc. now owns 9,630,097 shares of the oil and gas company’s stock worth $403,791,000 after purchasing an additional 46,451 shares during the period. LSV Asset Management boosted its stake in PBF Energy by 5.9% in the 2nd quarter. LSV Asset Management now owns 4,319,730 shares of the oil and gas company’s stock worth $181,126,000 after purchasing an additional 242,331 shares during the period. Bank of New York Mellon Corp boosted its stake in 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 purchasing an additional 1,850,884 shares during the period. Northern Trust Corp boosted its stake in PBF Energy by 18.5% in the 2nd quarter. Northern Trust Corp now owns 1,300,388 shares of the oil and gas company’s stock worth $54,525,000 after purchasing an additional 203,296 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in PBF Energy by 114.9% in the 1st quarter. Allianz Asset Management GmbH now owns 1,080,440 shares of the oil and gas company’s stock worth $36,627,000 after purchasing an additional 577,582 shares during the period. Institutional investors and hedge funds own 94.18% of the company’s stock.
Several research analysts have weighed in on PBF shares. Mizuho started coverage on PBF Energy in a research note on Wednesday, August 1st. They issued a “buy” rating and a $55.00 price target for the company. Citigroup upped their price target on PBF Energy from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, September 7th. Royal Bank of Canada reiterated a “hold” rating and set a $46.00 target price on shares of PBF Energy in a research report on Friday, August 3rd. Credit Suisse Group increased their target price on PBF Energy from $46.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, October 5th. Finally, Goldman Sachs Group upgraded PBF Energy from a “sell” rating to a “neutral” rating in a research report on Friday, September 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $45.58.
NYSE PBF opened at $43.54 on Monday. The company has a quick ratio of 0.63, a current ratio of 1.79 and a debt-to-equity ratio of 0.60. The company has a market cap of $4.96 billion, a PE ratio of 19.97, a PEG 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. PBF Energy had a return on equity of 8.17% and a net margin of 2.64%. The firm had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the prior year, the company earned $1.44 EPS. The company’s quarterly revenue was up 39.6% compared to the same quarter last year. On average, sell-side analysts expect that PBF Energy Inc will post 2.86 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 14th. This represents a $1.20 annualized dividend and a yield of 2.76%. PBF Energy’s payout ratio is presently 105.26%.
PBF Energy Company Profile
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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