Northern Trust Corp Boosts Holdings in PBF Energy Inc. $PBF

Northern Trust Corp lifted its stake in PBF Energy Inc. (NYSE:PBF) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,390,455 shares of the oil and gas company’s stock after purchasing an additional 11,499 shares during the period. Northern Trust Corp owned 1.21% of PBF Energy worth $26,544,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp increased its stake in shares of PBF Energy by 125.7% in the 1st quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 803 shares in the last quarter. Allworth Financial LP increased its stake in PBF Energy by 194.3% during the 1st quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,090 shares in the last quarter. Neo Ivy Capital Management bought a new stake in PBF Energy during the 1st quarter valued at about $37,000. Parallel Advisors LLC increased its stake 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 purchasing an additional 1,085 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in PBF Energy by 54.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,664 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 936 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

Insider Activity at PBF Energy

In related news, insider Control Empresarial De Capital bought 48,500 shares of the stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price of $17.99 per share, with a total value 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 represents a 0.16% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.30% of the company’s stock.

PBF Energy Price Performance

Shares of NYSE:PBF opened at $27.36 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.31 and a quick ratio of 0.55. PBF Energy Inc. has a 1-year low of $13.61 and a 1-year high of $34.49. The company has a market capitalization of $3.16 billion, a P/E ratio of -3.18 and a beta of 0.92. The firm’s 50 day simple moving average is $24.00 and its two-hundred day simple moving average is $21.12.

PBF Energy (NYSE:PBF) last issued its quarterly earnings results on Thursday, July 31st. The oil and gas company reported ($1.03) earnings per share 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 the consensus estimate of $6.65 billion. During the same quarter in the previous year, the firm earned ($0.54) earnings per share. The company’s revenue for the quarter was down 14.4% on a year-over-year basis. Research analysts expect that PBF Energy Inc. will post -1.12 EPS for the current fiscal year.

PBF Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Thursday, August 14th. PBF Energy’s payout ratio is -12.81%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Piper Sandler reiterated an “underweight” rating and issued a $22.00 price target (up from $21.00) on shares of PBF Energy in a research note on Monday, August 4th. UBS Group raised shares of PBF Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $20.00 to $26.00 in a report on Tuesday, May 13th. Scotiabank reissued a “sector perform” rating and issued a $25.00 price objective (up previously from $16.00) on shares of PBF Energy in a report on Friday, July 11th. Citigroup raised their price objective on shares of PBF Energy from $16.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company raised their price objective on shares of PBF Energy from $21.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average 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.