Rhumbline Advisers boosted its position in PBF Energy Inc. (NYSE:PBF – Free Report) by 6.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410,262 shares of the oil and gas company’s stock after buying an additional 25,517 shares during the period. Rhumbline Advisers owned approximately 0.32% of PBF Energy worth $17,789,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its position in PBF Energy by 4.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 38,809 shares of the oil and gas company’s stock valued at $1,683,000 after buying an additional 1,653 shares in the last quarter. Private Advisor Group LLC bought a new stake in PBF Energy during the 1st quarter worth approximately $356,000. Vanguard Personalized Indexing Management LLC bought a new stake in PBF Energy during the 1st quarter worth approximately $810,000. Burney Co. increased its holdings in PBF Energy by 0.4% during the 1st quarter. Burney Co. now owns 216,675 shares of the oil and gas company’s stock worth $9,395,000 after purchasing an additional 898 shares in the last quarter. Finally, MAI Capital Management increased its holdings in PBF Energy by 123.0% during the 1st quarter. MAI Capital Management now owns 20,733 shares of the oil and gas company’s stock worth $899,000 after purchasing an additional 11,437 shares in the last quarter. 89.56% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have commented on PBF shares. TheStreet raised PBF Energy from a “c” rating to a “b-” rating in a report on Tuesday, May 16th. Bank of America lowered PBF Energy from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $46.00 to $56.00 in a report on Tuesday, August 15th. StockNews.com assumed coverage on PBF Energy in a report on Sunday, August 20th. They issued a “hold” rating for the company. Mizuho upped their target price on PBF Energy from $45.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, August 16th. Finally, Wells Fargo & Company upped their target price on PBF Energy from $47.00 to $56.00 in a report on Friday, August 4th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $51.50.
PBF Energy Price Performance
PBF Energy stock opened at $47.50 on Thursday. PBF Energy Inc. has a 12 month low of $27.00 and a 12 month high of $50.43. The company has a current ratio of 1.47, a quick ratio of 0.81 and a debt-to-equity ratio of 0.24. The business’s 50 day simple moving average is $44.33 and its 200 day simple moving average is $41.44. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 1.98 and a beta of 1.92.
PBF Energy (NYSE:PBF – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.22 by $0.07. PBF Energy had a return on equity of 42.15% and a net margin of 7.36%. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $8.93 billion. During the same quarter in the prior year, the business earned $10.58 earnings per share. PBF Energy’s revenue for the quarter was down 34.9% on a year-over-year basis. Sell-side analysts forecast that PBF Energy Inc. will post 10.15 EPS for the current year.
PBF Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.68%. PBF Energy’s dividend payout ratio is currently 3.33%.
PBF Energy Profile
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 from crude oil.
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