Putnam Investments LLC increased its position in PBF Energy Inc. (NYSE:PBF – Get Rating) by 13.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,201 shares of the oil and gas company’s stock after acquiring an additional 8,217 shares during the period. Putnam Investments LLC owned about 0.05% of PBF Energy worth $2,363,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Lazard Asset Management LLC bought a new stake in shares of PBF Energy in the third quarter worth $33,000. Financial Management Professionals Inc. bought a new stake in shares of PBF Energy in the third quarter worth $34,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of PBF Energy in the first quarter worth $48,000. Point72 Hong Kong Ltd bought a new stake in shares of PBF Energy in the first quarter worth $76,000. Finally, Quadrant Capital Group LLC lifted its position in PBF Energy by 17.6% during the second quarter. Quadrant Capital Group LLC now owns 2,900 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 433 shares in the last quarter. Institutional investors own 90.69% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on PBF. Morgan Stanley lifted their target price on PBF Energy from $40.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, January 20th. JPMorgan Chase & Co. boosted their price objective on PBF Energy from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Monday, January 9th. Wells Fargo & Company lowered their price objective on PBF Energy from $59.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, January 5th. UBS Group began coverage on PBF Energy in a research report on Wednesday, March 8th. They issued a “neutral” rating and a $53.00 price objective on the stock. Finally, TheStreet downgraded PBF Energy from a “b-” rating to a “c” rating in a research report on Friday, February 17th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $44.31.
PBF Energy Trading Down 0.4 %
PBF Energy (NYSE:PBF – Get Rating) last issued its quarterly earnings data on Thursday, February 16th. The oil and gas company reported $4.41 earnings per share for the quarter, missing the consensus estimate of $4.95 by ($0.54). The company had revenue of $10.85 billion for the quarter, compared to the consensus estimate of $9.71 billion. PBF Energy had a return on equity of 72.79% and a net margin of 6.14%. The company’s revenue was up 31.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.28 earnings per share. As a group, research analysts expect that PBF Energy Inc. will post 10.44 EPS for the current year.
PBF Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 16th. Stockholders of record on Wednesday, March 1st will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, February 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.81%. PBF Energy’s dividend payout ratio is 3.52%.
About PBF Energy
PBF Energy, Inc engages in the operation of a petroleum refiner and supplies unbranded transportation fuels, heating oil, petrochemical feed stocks, lubricants, and other petroleum products in the United States. It operates through the following segments: Refining and Logistics. The Refining segment refines crude oil and other feed stocks into petroleum products.
- Get a free copy of the StockNews.com research report on PBF Energy (PBF)
- What the SVB Financial Collapse Means for U.S. Banks
- MarketBeat Week in Review – 3/6 – 3/10
- 2 Offshore Drilling Stocks Set to Extract Big Profits
- Three Staples Stocks With Double-Digit Upside Ahead
- Can Investors Trust Consumers to Lift American Outdoor Brands?
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:PBF – Get Rating).
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.