Harbor Capital Advisors Inc. Increases Stake in PBF Energy Inc. (NYSE:PBF)

Harbor Capital Advisors Inc. boosted its position in shares of PBF Energy Inc. (NYSE:PBF) by 61.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 3,458 shares of the oil and gas company’s stock after purchasing an additional 1,320 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in PBF Energy were worth $66,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its position in PBF Energy by 150.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company’s stock valued at $56,191,000 after purchasing an additional 1,272,254 shares during the last quarter. American Century Companies Inc. grew its position in PBF Energy by 11.2% during the 4th quarter. American Century Companies Inc. now owns 1,865,625 shares of the oil and gas company’s stock valued at $49,532,000 after purchasing an additional 187,351 shares during the last quarter. Two Sigma Investments LP grew its position in PBF Energy by 12.6% during the 4th quarter. Two Sigma Investments LP now owns 1,645,584 shares of the oil and gas company’s stock valued at $43,690,000 after purchasing an additional 184,194 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in PBF Energy by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,492,817 shares of the oil and gas company’s stock valued at $39,634,000 after purchasing an additional 78,045 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in PBF Energy by 60.4% during the 4th quarter. JPMorgan Chase & Co. now owns 1,492,573 shares of the oil and gas company’s stock valued at $39,628,000 after purchasing an additional 562,287 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

PBF Energy Trading Up 1.6%

Shares of PBF stock opened at $21.17 on Monday. PBF Energy Inc. has a 1 year low of $13.62 and a 1 year high of $48.20. The firm has a fifty day moving average price of $18.41 and a 200-day moving average price of $22.89. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.25 and a quick ratio of 0.54. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -4.49 and a beta of 0.82.

PBF Energy (NYSE:PBF) last issued its quarterly earnings data on Thursday, May 1st. The oil and gas company reported ($3.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.50) by $0.41. PBF Energy had a negative net margin of 1.61% and a negative return on equity of 7.40%. The firm had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The company’s revenue for the quarter was down 18.3% compared to the same quarter last year. As a group, equities analysts predict that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date was Thursday, May 15th. PBF Energy’s payout ratio is -12.09%.

Insider Activity

In other news, insider Control Empresarial De Capital bought 15,000 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were bought at an average price of $13.98 per share, for a total transaction of $209,700.00. Following the purchase, the insider now owns 30,757,998 shares in the company, valued at $429,996,812.04. This represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired a total of 224,500 shares of company stock valued at $3,816,695 in the last 90 days. Company insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on PBF shares. JPMorgan Chase & Co. cut their price objective on shares of PBF Energy from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 11th. The Goldman Sachs Group dropped their price target on shares of PBF Energy from $28.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, March 27th. Wells Fargo & Company raised their price target on shares of PBF Energy from $18.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, June 11th. TD Cowen dropped their price target on shares of PBF Energy from $19.00 to $17.00 and set a “sell” rating on the stock in a report on Tuesday, March 11th. Finally, UBS Group raised shares of PBF Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $20.00 to $26.00 in a report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $23.18.

PBF Energy Profile

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.