First Trust Advisors LP lessened its holdings in PBF Energy Inc (NYSE:PBF) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 471,544 shares of the oil and gas company’s stock after selling 11,936 shares during the period. First Trust Advisors LP owned approximately 0.41% of PBF Energy worth $23,535,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in PBF. Smithfield Trust Co. purchased a new position in shares of PBF Energy in the 2nd quarter worth approximately $121,000. Itau Unibanco Holding S.A. purchased a new position in shares of PBF Energy in the 2nd quarter worth approximately $132,000. Point72 Hong Kong Ltd purchased a new position in shares of PBF Energy in the 2nd quarter worth approximately $145,000. Sun Life Financial INC purchased a new position in shares of PBF Energy in the 2nd quarter worth approximately $200,000. Finally, Meristem LLP purchased a new position in shares of PBF Energy in the 2nd quarter worth approximately $210,000. Hedge funds and other institutional investors own 93.96% of the company’s stock.
NYSE:PBF opened at $41.93 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $4.96 billion, a P/E ratio of 36.78, a P/E/G ratio of 0.98 and a beta of 1.51. PBF Energy Inc has a 12 month low of $28.25 and a 12 month high of $53.91.
PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Wednesday, October 31st. The oil and gas company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.10. The company had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.21 billion. PBF Energy had a net margin of 2.64% and a return on equity of 8.17%. PBF Energy’s revenue was up 39.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 EPS. As a group, 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 $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.86%. PBF Energy’s dividend payout ratio (DPR) is presently 105.26%.
A number of brokerages have recently weighed in on PBF. Mizuho began coverage on PBF Energy in a research note on Wednesday, August 1st. They issued a “buy” rating and a $55.00 target price on the stock. Royal Bank of Canada restated a “hold” rating and issued a $46.00 target price on shares of PBF Energy in a research note on Friday, August 3rd. Citigroup boosted their target price on PBF Energy from $47.00 to $50.00 and gave the stock a “hold” rating in a research note on Wednesday, August 15th. Credit Suisse Group boosted their target price on PBF Energy from $46.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, October 5th. Finally, Morgan Stanley set a $54.00 target price on PBF Energy and gave the stock a “sell” rating in a research note on Friday, October 12th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $45.58.
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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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