Victory Capital Management Inc. Buys 77,858 Shares of PBF Energy Inc. (NYSE:PBF)

Victory Capital Management Inc. grew its stake in shares of PBF Energy Inc. (NYSE:PBF) by 163.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,435 shares of the oil and gas company’s stock after purchasing an additional 77,858 shares during the period. Victory Capital Management Inc. owned approximately 0.11% of PBF Energy worth $2,395,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its holdings in PBF Energy by 14.0% in the first quarter. Bank of New York Mellon Corp now owns 2,121,727 shares of the oil and gas company’s stock worth $40,504,000 after buying an additional 260,464 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of PBF Energy by 150.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,116,396 shares of the oil and gas company’s stock worth $56,191,000 after acquiring an additional 1,272,254 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of PBF Energy by 12.6% in 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 period. JPMorgan Chase & Co. lifted its stake in shares of PBF Energy by 60.4% in 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 period. Finally, Two Sigma Advisers LP boosted its position in shares of PBF Energy by 1.2% during the fourth quarter. Two Sigma Advisers LP now owns 1,401,700 shares of the oil and gas company’s stock valued at $37,215,000 after purchasing an additional 17,100 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

PBF Energy Trading Up 3.8%

Shares of NYSE PBF opened at $25.07 on Tuesday. The firm’s 50 day moving average price is $22.46 and its 200-day moving average price is $22.05. PBF Energy Inc. has a 52-week low of $13.61 and a 52-week high of $42.64. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.52 and a current ratio of 1.29. The company has a market cap of $2.90 billion, a PE ratio of -2.75 and a beta of 0.84.

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

PBF Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, May 15th. This represents a $1.10 annualized dividend and a dividend yield of 4.39%. PBF Energy’s dividend payout ratio (DPR) is presently -12.09%.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital bought 48,500 shares of the stock in a transaction on Thursday, June 5th. The shares were acquired at an average price of $17.99 per share, for a total transaction of $872,515.00. Following the purchase, the insider owned 30,823,498 shares of the company’s stock, valued at approximately $554,514,729.02. The trade was a 0.16% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PBF. UBS Group upgraded PBF Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $20.00 to $26.00 in a report on Tuesday, May 13th. Citigroup upped their target price on shares of PBF Energy from $16.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Morgan Stanley lifted their price target on shares of PBF Energy from $20.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Wells Fargo & Company boosted their price objective on shares of PBF Energy from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Finally, Piper Sandler raised their target price on shares of PBF Energy from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Tuesday, July 22nd. Seven 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $25.08.

About PBF Energy

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.