PBF Energy Inc. (NYSE:PBF) Holdings Lifted by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC boosted its position in shares of PBF Energy Inc. (NYSE:PBF) by 10.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,551 shares of the oil and gas company’s stock after buying an additional 3,083 shares during the quarter. Wedge Capital Management L L P NC’s holdings in PBF Energy were worth $1,038,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in PBF Energy by 94.5% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 313,091 shares of the oil and gas company’s stock valued at $14,408,000 after buying an additional 152,091 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of PBF Energy during the second quarter valued at $275,000. Sanctuary Advisors LLC purchased a new stake in shares of PBF Energy during the second quarter valued at $1,176,000. Invst LLC lifted its holdings in shares of PBF Energy by 6.2% during the second quarter. Invst LLC now owns 16,554 shares of the oil and gas company’s stock valued at $770,000 after purchasing an additional 965 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in shares of PBF Energy by 11.9% during the second quarter. Sunbelt Securities Inc. now owns 13,540 shares of the oil and gas company’s stock valued at $623,000 after purchasing an additional 1,436 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Performance

Shares of PBF stock opened at $32.40 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.75. PBF Energy Inc. has a fifty-two week low of $30.17 and a fifty-two week high of $62.88. The stock’s 50-day moving average is $33.27 and its two-hundred day moving average is $42.74. The firm has a market cap of $3.84 billion, a P/E ratio of 2.24 and a beta of 1.55.

PBF Energy (NYSE:PBF) last issued its earnings results on Thursday, August 1st. The oil and gas company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.39). PBF Energy had a return on equity of 12.81% and a net margin of 2.09%. The firm had revenue of $8.74 billion during the quarter, compared to analyst estimates of $8.64 billion. During the same period in the previous year, the company earned $2.29 earnings per share. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. Analysts predict that PBF Energy Inc. will post -0.05 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Thursday, August 15th. PBF Energy’s dividend payout ratio is 6.92%.

Wall Street Analysts Forecast Growth

PBF has been the subject of several analyst reports. BMO Capital Markets downgraded PBF Energy from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $42.00 to $35.00 in a report on Friday, October 4th. Wells Fargo & Company reduced their target price on PBF Energy from $51.00 to $39.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Morgan Stanley reduced their target price on PBF Energy from $48.00 to $38.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Mizuho reduced their target price on PBF Energy from $42.00 to $36.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Wolfe Research initiated coverage on PBF Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $40.55.

Insider Activity

In related news, insider Control Empresarial De Capital acquired 50,000 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $35.60 per share, with a total value of $1,780,000.00. Following the acquisition, the insider now owns 18,179,598 shares in the company, valued at approximately $647,193,688.80. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have purchased 2,952,300 shares of company stock valued at $97,300,026. Insiders own 5.30% of the company’s stock.

About PBF Energy

PBF Energy Inc, through its subsidiaries, engages in refining and supplying petroleum products. The company operates in 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 from crude oil.