Wedge Capital Management L L P NC Takes Position in PBF Energy Inc. (NYSE:PBF)

Wedge Capital Management L L P NC purchased a new stake in shares of PBF Energy Inc. (NYSE:PBFGet Rating) in the second quarter, according to its most recent filing with the SEC. The firm purchased 7,467 shares of the oil and gas company’s stock, valued at approximately $217,000.

Several other institutional investors have also recently modified their holdings of PBF. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in shares of PBF Energy during the 1st quarter worth approximately $48,000. Meeder Asset Management Inc. raised its position in shares of PBF Energy by 354.0% during the 1st quarter. Meeder Asset Management Inc. now owns 2,792 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 2,177 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of PBF Energy during the 1st quarter worth approximately $76,000. Signaturefd LLC raised its position in shares of PBF Energy by 6.9% during the 1st quarter. Signaturefd LLC now owns 6,287 shares of the oil and gas company’s stock worth $153,000 after purchasing an additional 407 shares during the last quarter. Finally, Regatta Capital Group LLC acquired a new position in shares of PBF Energy during the 4th quarter worth approximately $199,000. 87.50% of the stock is currently owned by institutional investors and hedge funds.

PBF Energy Stock Down 0.3 %

Shares of NYSE PBF opened at $29.60 on Thursday. PBF Energy Inc. has a 52-week low of $10.44 and a 52-week high of $44.12. The firm has a fifty day moving average of $32.05 and a 200-day moving average of $30.17. The stock has a market capitalization of $3.61 billion, a PE ratio of 2.60 and a beta of 2.15. The company has a quick ratio of 0.64, a current ratio of 1.08 and a debt-to-equity ratio of 0.55.

PBF Energy (NYSE:PBFGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The oil and gas company reported $10.58 earnings per share for the quarter, topping analysts’ consensus estimates of $7.36 by $3.22. PBF Energy had a net margin of 3.64% and a return on equity of 55.28%. The firm had revenue of $14.08 billion during the quarter, compared to analysts’ expectations of $10.67 billion. During the same period in the prior year, the company earned ($1.26) EPS. The firm’s revenue was up 104.1% on a year-over-year basis. On average, analysts anticipate that PBF Energy Inc. will post 19.96 EPS for the current year.

Insider Buying and Selling

In related news, SVP Connor Thomas L. O sold 100,000 shares of the company’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $37.54, for a total transaction of $3,754,000.00. Following the completion of the sale, the senior vice president now directly owns 80,000 shares of the company’s stock, valued at approximately $3,003,200. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PBF has been the subject of several research reports. JPMorgan Chase & Co. upgraded PBF Energy from a “neutral” rating to an “overweight” rating and set a $43.00 price objective for the company in a research report on Wednesday. Cowen lifted their target price on shares of PBF Energy to $32.00 in a research note on Tuesday, August 9th. Barclays lifted their target price on shares of PBF Energy from $25.00 to $27.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 5th. StockNews.com raised shares of PBF Energy from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Finally, Wells Fargo & Company lifted their target price on shares of PBF Energy from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, PBF Energy presently has an average rating of “Hold” and an average price target of $34.15.

About PBF Energy

(Get Rating)

PBF Energy Inc, together with 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.

Featured Stories

Want to see what other hedge funds are holding PBF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PBF Energy Inc. (NYSE:PBFGet Rating).

Institutional Ownership by Quarter for PBF Energy (NYSE:PBF)

Receive News & Ratings for PBF Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PBF Energy and related companies with MarketBeat.com's FREE daily email newsletter.