Charles Schwab Investment Management Inc. Has $31.98 Million Stake in PBF Energy Inc. $PBF

Charles Schwab Investment Management Inc. grew its holdings in shares of PBF Energy Inc. (NYSE:PBF) by 12.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,675,273 shares of the oil and gas company’s stock after purchasing an additional 182,456 shares during the period. Charles Schwab Investment Management Inc. owned about 1.45% of PBF Energy worth $31,981,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. LPL Financial LLC increased its holdings in PBF Energy by 3.2% in the 4th quarter. LPL Financial LLC now owns 23,802 shares of the oil and gas company’s stock valued at $632,000 after buying an additional 748 shares during the period. Wells Fargo & Company MN boosted its position in shares of PBF Energy by 19.4% during the 4th quarter. Wells Fargo & Company MN now owns 111,288 shares of the oil and gas company’s stock worth $2,955,000 after acquiring an additional 18,097 shares in the last quarter. Legal & General Group Plc increased its stake in PBF Energy by 3.0% in the fourth quarter. Legal & General Group Plc now owns 179,283 shares of the oil and gas company’s stock valued at $4,760,000 after acquiring an additional 5,184 shares during the last quarter. Raymond James Financial Inc. acquired a new position in PBF Energy during the fourth quarter valued at approximately $1,654,000. Finally, Sterling Capital Management LLC lifted its stake in PBF Energy by 783.2% during the fourth quarter. Sterling Capital Management LLC now owns 3,162 shares of the oil and gas company’s stock worth $84,000 after purchasing an additional 2,804 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Control Empresarial De Capital purchased 48,500 shares of PBF Energy stock in a transaction on Thursday, June 5th. The stock was acquired at an average cost of $17.99 per share, for a total transaction of $872,515.00. Following the completion of the acquisition, the insider owned 30,823,498 shares of the company’s stock, valued at $554,514,729.02. This trade represents a 0.16% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 6.70% of the company’s stock.

PBF Energy Stock Down 1.0%

PBF Energy stock opened at $23.4760 on Wednesday. PBF Energy Inc. has a 52-week low of $13.61 and a 52-week high of $36.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.55 and a current ratio of 1.31. The firm has a 50 day moving average price of $23.59 and a two-hundred day moving average price of $21.31. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of -2.73 and a beta of 0.92.

PBF Energy (NYSE:PBF) last released its earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.19) by $0.16. PBF Energy had a negative net margin of 3.24% and a negative return on equity of 17.46%. The business had revenue of $7.48 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the previous year, the business earned ($0.54) earnings per share. PBF Energy’s revenue for the quarter was down 14.4% on a year-over-year basis. Equities analysts predict that PBF Energy Inc. will post -1.12 EPS for the current year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.10 annualized dividend and a yield of 4.7%. PBF Energy’s payout ratio is -12.81%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PBF. UBS Group upgraded PBF Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $20.00 to $26.00 in a research report on Tuesday, May 13th. Wells Fargo & Company raised their price target on shares of PBF Energy from $21.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Piper Sandler reiterated an “underweight” rating and set a $22.00 price objective (up from $21.00) on shares of PBF Energy in a research report on Monday, August 4th. Morgan Stanley increased their price objective on shares of PBF Energy from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Finally, Scotiabank restated a “sector perform” rating and issued a $25.00 target price (up previously from $16.00) on shares of PBF Energy in a research report on Friday, July 11th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, PBF Energy has a consensus rating of “Reduce” and a consensus price target of $25.17.

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.