Pallas Capital Advisors LLC Takes Position in PBF Energy Inc. $PBF

Pallas Capital Advisors LLC purchased a new position in shares of PBF Energy Inc. (NYSE:PBF) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 20,661 shares of the oil and gas company’s stock, valued at approximately $448,000.

A number of other hedge funds have also recently made changes to their positions in PBF. Fifth Third Bancorp increased its position in shares of PBF Energy by 125.7% during the first quarter. Fifth Third Bancorp now owns 1,442 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 803 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in PBF Energy by 761.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,412 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 1,248 shares during the last quarter. Allworth Financial LP increased its position in shares of PBF Energy by 194.3% during the first quarter. Allworth Financial LP now owns 1,651 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 1,090 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of PBF Energy in the 1st quarter worth approximately $35,000. Finally, Neo Ivy Capital Management purchased a new position in PBF Energy in the first quarter worth $37,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on PBF. Morgan Stanley upped their price objective on shares of PBF Energy from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Mizuho lifted their price objective on shares of PBF Energy from $23.00 to $26.00 and gave the stock an “underperform” rating in a research report on Monday, September 15th. Citigroup increased their target price on shares of PBF Energy from $16.00 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Wells Fargo & Company increased 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 report on Tuesday, July 15th. Finally, Scotiabank reissued a “sector perform” rating and issued a $25.00 target price (up previously from $16.00) on shares of PBF Energy in a research note on Friday, July 11th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $25.54.

PBF Energy Stock Down 1.8%

Shares of NYSE PBF opened at $30.12 on Friday. PBF Energy Inc. has a 12 month low of $13.61 and a 12 month high of $34.22. The firm has a fifty day simple moving average of $25.53 and a two-hundred day simple moving average of $21.79. The firm has a market capitalization of $3.48 billion, a PE ratio of -3.51 and a beta of 0.98. The company has a current ratio of 1.31, a quick ratio of 0.55 and a debt-to-equity ratio of 0.46.

PBF Energy (NYSE:PBF) last posted its quarterly earnings data on Thursday, July 31st. The oil and gas company reported ($1.03) EPS for the quarter, topping 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 company had revenue of $7.48 billion during the quarter, compared to analyst estimates of $6.65 billion. During the same period in the previous year, the firm earned ($0.54) earnings per share. PBF Energy’s quarterly revenue was down 14.4% compared to the same quarter last year. Equities analysts expect that PBF Energy Inc. will post -1.12 earnings per share for the current year.

PBF Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, August 14th. PBF Energy’s dividend payout ratio is currently -12.81%.

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.