Bank of New York Mellon Corp Has $40.50 Million Stake in PBF Energy Inc. (NYSE:PBF)

Bank of New York Mellon Corp raised its stake in shares of PBF Energy Inc. (NYSE:PBF) by 14.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,121,727 shares of the oil and gas company’s stock after purchasing an additional 260,464 shares during the period. Bank of New York Mellon Corp owned approximately 1.84% of PBF Energy worth $40,504,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its stake in PBF Energy by 125.7% in the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 803 shares during the last quarter. Parallel Advisors LLC raised its holdings in PBF Energy by 80.4% during the 1st quarter. Parallel Advisors LLC now owns 2,434 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 1,085 shares during the period. Golden State Wealth Management LLC raised its holdings in PBF Energy by 43.5% during the 1st quarter. Golden State Wealth Management LLC now owns 3,300 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 1,000 shares during the period. EverSource Wealth Advisors LLC raised its holdings in PBF Energy by 33.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,463 shares of the oil and gas company’s stock valued at $65,000 after acquiring an additional 614 shares during the period. Finally, Harbor Capital Advisors Inc. raised its holdings in PBF Energy by 61.7% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,458 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 1,320 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

PBF Energy Price Performance

NYSE PBF opened at $27.02 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.29 and a quick ratio of 0.52. The stock’s fifty day moving average price is $21.72 and its 200 day moving average price is $22.20. PBF Energy Inc. has a 1 year low of $13.62 and a 1 year high of $42.64. The company has a market cap of $3.13 billion, a price-to-earnings ratio of -2.97 and a beta of 0.84.

PBF Energy (NYSE:PBF) last posted its quarterly earnings results on Thursday, May 1st. The oil and gas company reported ($3.09) EPS for the quarter, beating the consensus estimate of ($3.50) by $0.41. PBF Energy had a negative net margin of 3.30% and a negative return on equity of 15.67%. The company had revenue of $7.07 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same period in the prior year, the company earned $0.85 earnings per share. The firm’s revenue was down 18.3% on a year-over-year basis. As a group, equities research analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.275 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.10 dividend on an annualized basis and a yield of 4.07%. PBF Energy’s payout ratio is -12.09%.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital purchased 48,500 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was acquired at an average price of $17.99 per share, for a total transaction of $872,515.00. Following the acquisition, the insider directly owned 30,823,498 shares of the company’s stock, valued at approximately $554,514,729.02. This represents a 0.16% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PBF shares. Wells Fargo & Company lifted their price objective on PBF Energy from $18.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 11th. Scotiabank restated a “sector perform” rating and set a $25.00 target price (up from $16.00) on shares of PBF Energy in a research report on Friday. Morgan Stanley reduced their target price on PBF Energy from $28.00 to $20.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Piper Sandler reduced their target price on PBF Energy from $23.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, May 2nd. Finally, UBS Group upgraded PBF Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $20.00 to $26.00 in a research report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, PBF Energy has a consensus rating of “Hold” and an average price target of $24.00.

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.